ONEOK, Inc. (NYSE:OKE) Expected to Announce Quarterly Sales of $2.72 Billion
Wall Street brokerages expect ONEOK, Inc. (NYSE:OKE) to announce sales of $2.72 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for ONEOK’s earnings. The lowest sales estimate is $2.29 billion and the highest is $3.24 billion. ONEOK reported sales of $3.39 billion in the same quarter last year, which would suggest a negative year over year growth rate of 19.8%. The business is scheduled to announce its next earnings results after the market closes on Tuesday, October 29th.
According to Zacks, analysts expect that ONEOK will report full-year sales of $11.08 billion for the current year, with estimates ranging from $10.02 billion to $11.94 billion. For the next year, analysts forecast that the business will report sales of $13.08 billion, with estimates ranging from $10.22 billion to $15.56 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover ONEOK.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.04. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.87 billion. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS.
Shares of ONEOK stock traded up $0.40 during trading on Wednesday, hitting $69.60. 1,315,804 shares of the stock were exchanged, compared to its average volume of 2,235,788. The stock has a market cap of $28.36 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 1.92 and a beta of 1.12. The firm’s 50-day moving average price is $72.15 and its 200 day moving average price is $69.22. ONEOK has a 12-month low of $50.26 and a 12-month high of $77.21. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.81 and a quick ratio of 0.60.
A number of large investors have recently made changes to their positions in the stock. Evanson Asset Management LLC boosted its holdings in shares of ONEOK by 0.3% in the third quarter. Evanson Asset Management LLC now owns 45,538 shares of the utilities provider’s stock valued at $3,356,000 after acquiring an additional 145 shares in the last quarter. Liberty Wealth Management LLC boosted its holdings in ONEOK by 25.1% during the second quarter. Liberty Wealth Management LLC now owns 748 shares of the utilities provider’s stock worth $52,000 after buying an additional 150 shares in the last quarter. Synovus Financial Corp boosted its holdings in ONEOK by 3.7% during the second quarter. Synovus Financial Corp now owns 4,291 shares of the utilities provider’s stock worth $296,000 after buying an additional 152 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in ONEOK by 1.2% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 13,140 shares of the utilities provider’s stock worth $904,000 after buying an additional 160 shares in the last quarter. Finally, Laffer Investments boosted its holdings in ONEOK by 1.8% during the second quarter. Laffer Investments now owns 9,905 shares of the utilities provider’s stock worth $682,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 74.55% of the company’s stock.
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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