ONEOK, Inc. (NYSE:OKE) – Equities researchers at US Capital Advisors raised their Q3 2018 EPS estimates for shares of ONEOK in a research note issued to investors on Wednesday, October 17th, according to Zacks Investment Research. US Capital Advisors analyst C. Crosby now forecasts that the utilities provider will earn $0.75 per share for the quarter, up from their previous forecast of $0.70. US Capital Advisors currently has a “Buy” rating on the stock. US Capital Advisors also issued estimates for ONEOK’s Q4 2018 earnings at $0.76 EPS, FY2019 earnings at $2.82 EPS and FY2020 earnings at $3.03 EPS.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 30th. The utilities provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a return on equity of 16.32% and a net margin of 6.96%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the business posted $0.43 EPS.
ONEOK stock traded down $0.88 during midday trading on Thursday, reaching $63.09. 2,410,421 shares of the stock traded hands, compared to its average volume of 2,515,783. ONEOK has a 12-month low of $49.65 and a 12-month high of $71.99. The stock has a market capitalization of $26.36 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 2.38 and a beta of 0.91. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.74 and a quick ratio of 0.51.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be given a dividend of $0.855 per share. This represents a $3.42 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Friday, November 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $0.83. ONEOK’s dividend payout ratio (DPR) is 194.32%.
Hedge funds and other institutional investors have recently modified their holdings of the company. BerganKDV Wealth Management LLC acquired a new stake in shares of ONEOK during the 2nd quarter worth about $117,000. Private Capital Group LLC raised its position in shares of ONEOK by 12,150.0% during the 1st quarter. Private Capital Group LLC now owns 2,205 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 2,187 shares in the last quarter. JNBA Financial Advisors raised its position in shares of ONEOK by 827.4% during the 3rd quarter. JNBA Financial Advisors now owns 2,031 shares of the utilities provider’s stock worth $138,000 after acquiring an additional 1,812 shares in the last quarter. TRUE Private Wealth Advisors acquired a new stake in shares of ONEOK during the 3rd quarter worth about $140,000. Finally, McKinley Carter Wealth Services Inc. acquired a new position in ONEOK during the first quarter worth approximately $148,000. 73.46% of the stock is currently owned by institutional investors and hedge funds.
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.