ONEOK, Inc. (OKE) Expected to Post Quarterly Sales of $2.70 Billion
Wall Street analysts expect ONEOK, Inc. (NYSE:OKE) to post sales of $2.70 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for ONEOK’s earnings, with the lowest sales estimate coming in at $2.49 billion and the highest estimate coming in at $2.86 billion. ONEOK reported sales of $3.10 billion during the same quarter last year, which indicates a negative year over year growth rate of 12.9%. The firm is scheduled to announce its next earnings results after the market closes on Tuesday, April 30th.
On average, analysts expect that ONEOK will report full year sales of $11.99 billion for the current year, with estimates ranging from $10.56 billion to $14.02 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $13.26 billion, with estimates ranging from $11.21 billion to $17.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow ONEOK.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 25th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.04). ONEOK had a net margin of 9.14% and a return on equity of 17.10%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period in the prior year, the business earned $0.53 EPS.
ONEOK stock traded up $0.79 during mid-day trading on Wednesday, hitting $69.93. 2,010,405 shares of the company’s stock traded hands, compared to its average volume of 2,667,186. ONEOK has a fifty-two week low of $50.26 and a fifty-two week high of $71.99. The company has a market capitalization of $28.54 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 2.00 and a beta of 1.23. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.66 and a quick ratio of 0.46.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 29th will be given a dividend of $0.865 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.46 annualized dividend and a yield of 4.95%. ONEOK’s dividend payout ratio (DPR) is presently 123.74%.
In other ONEOK news, Director Eduardo A. Rodriguez sold 1,500 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the transaction, the director now owns 15,536 shares in the company, valued at approximately $1,037,028. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of OKE. JPMorgan Chase & Co. increased its holdings in shares of ONEOK by 28.1% during the third quarter. JPMorgan Chase & Co. now owns 3,059,991 shares of the utilities provider’s stock valued at $207,436,000 after acquiring an additional 671,577 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in ONEOK by 6.3% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 14,720,159 shares of the utilities provider’s stock valued at $997,880,000 after buying an additional 877,072 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in ONEOK by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,655,355 shares of the utilities provider’s stock valued at $451,167,000 after buying an additional 31,370 shares in the last quarter. FMR LLC lifted its stake in ONEOK by 42.3% in the 3rd quarter. FMR LLC now owns 209,634 shares of the utilities provider’s stock valued at $14,211,000 after buying an additional 62,346 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in ONEOK in the 3rd quarter valued at about $301,000. Hedge funds and other institutional investors own 75.54% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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