Zacks: Analysts Anticipate ONEOK, Inc. (OKE) Will Post Quarterly Sales of $3.68 Billion
Equities analysts expect that ONEOK, Inc. (NYSE:OKE) will report $3.68 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for ONEOK’s earnings, with estimates ranging from $3.26 billion to $4.10 billion. ONEOK posted sales of $2.65 billion during the same quarter last year, which suggests a positive year over year growth rate of 38.9%. The business is scheduled to issue its next earnings results on Monday, February 26th.
According to Zacks, analysts expect that ONEOK will report full-year sales of $3.68 billion for the current fiscal year, with estimates ranging from $10.39 billion to $12.85 billion. For the next financial year, analysts expect that the firm will report sales of $12.31 billion per share, with estimates ranging from $9.90 billion to $15.11 billion. Zacks’ sales averages are an average based on a survey of analysts that follow ONEOK.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.80 billion. ONEOK had a net margin of 3.76% and a return on equity of 9.25%. During the same quarter in the previous year, the company posted $0.43 EPS.
A number of analysts recently issued reports on OKE shares. Barclays started coverage on ONEOK in a research report on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 target price for the company. Zacks Investment Research cut ONEOK from a “buy” rating to a “sell” rating in a research report on Tuesday, October 31st. Jefferies Group reissued a “hold” rating and issued a $52.00 target price (up from $51.00) on shares of ONEOK in a research report on Friday, September 1st. Mizuho started coverage on ONEOK in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 target price for the company. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $58.00 price objective on shares of ONEOK in a research report on Monday, September 11th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.07.
In related news, Director Brian L. Derksen purchased 1,800 shares of the company’s stock in a transaction on Monday, November 20th. The stock was bought at an average price of $51.00 per share, with a total value of $91,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Ropes Wealth Advisors LLC acquired a new stake in shares of ONEOK during the second quarter worth $103,000. Winslow Evans & Crocker Inc. boosted its holdings in shares of ONEOK by 462.9% during the third quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 1,620 shares during the last quarter. Mercer Capital Advisers Inc. boosted its holdings in shares of ONEOK by 229.8% during the third quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 1,379 shares during the last quarter. Enterprise Financial Services Corp boosted its holdings in shares of ONEOK by 332.8% during the third quarter. Enterprise Financial Services Corp now owns 2,268 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 1,744 shares during the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new stake in shares of ONEOK during the third quarter worth $150,000. 70.89% of the stock is owned by institutional investors.
Shares of ONEOK (NYSE:OKE) opened at $53.21 on Tuesday. The stock has a market capitalization of $20,402.67, a PE ratio of 33.26, a P/E/G ratio of 3.33 and a beta of 1.26. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.55 and a quick ratio of 0.41. ONEOK has a 1 year low of $47.14 and a 1 year high of $59.47.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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