ONEOK, Inc. (NYSE:OKE) Expected to Post Quarterly Sales of $2.70 Billion

Equities research analysts expect that ONEOK, Inc. (NYSE:OKE) will post $2.70 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for ONEOK’s earnings, with the lowest sales estimate coming in at $2.26 billion and the highest estimate coming in at $3.29 billion. ONEOK reported sales of $2.96 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 8.8%. The business is scheduled to announce its next earnings report after the market closes on Tuesday, July 30th.

On average, analysts expect that ONEOK will report full-year sales of $11.31 billion for the current financial year, with estimates ranging from $9.87 billion to $12.85 billion. For the next financial year, analysts anticipate that the company will post sales of $13.00 billion, with estimates ranging from $10.12 billion to $15.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover ONEOK.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. ONEOK had a net margin of 9.98% and a return on equity of 18.47%. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the business posted $0.64 EPS.

Several research firms have issued reports on OKE. Mitsubishi UFJ Financial Group began coverage on shares of ONEOK in a research report on Wednesday, June 5th. They issued a “neutral” rating and a $74.00 price target on the stock. Seaport Global Securities lowered shares of ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 price target on the stock. in a research report on Monday, April 22nd. Jefferies Financial Group raised their price target on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Citigroup lowered shares of BCE from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. Finally, UBS Group lowered shares of Guangshen Railway Co. Ltd ADR Class H from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 3rd. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. ONEOK presently has a consensus rating of “Hold” and a consensus price target of $71.45.

A number of hedge funds have recently made changes to their positions in OKE. Norges Bank bought a new position in ONEOK during the 4th quarter valued at about $209,832,000. BlackRock Inc. lifted its holdings in ONEOK by 7.9% during the 1st quarter. BlackRock Inc. now owns 44,615,090 shares of the utilities provider’s stock valued at $3,115,917,000 after purchasing an additional 3,261,539 shares during the last quarter. Zimmer Partners LP lifted its holdings in ONEOK by 279.5% during the 4th quarter. Zimmer Partners LP now owns 3,712,700 shares of the utilities provider’s stock valued at $200,300,000 after purchasing an additional 2,734,500 shares during the last quarter. Ronna Sue Cohen lifted its holdings in ONEOK by 6,877.6% during the 1st quarter. Ronna Sue Cohen now owns 2,706,461 shares of the utilities provider’s stock valued at $2,706,000 after purchasing an additional 2,667,673 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in ONEOK by 39.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,650,200 shares of the utilities provider’s stock valued at $89,021,000 after purchasing an additional 465,583 shares during the last quarter. 74.97% of the stock is owned by hedge funds and other institutional investors.

NYSE:OKE traded up $0.61 during midday trading on Wednesday, reaching $69.14. The stock had a trading volume of 1,510,815 shares, compared to its average volume of 2,327,149. ONEOK has a 1-year low of $50.26 and a 1-year high of $71.43. The business has a fifty day moving average price of $67.63. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.79 and a quick ratio of 0.55. The firm has a market capitalization of $28.29 billion, a PE ratio of 24.87, a P/E/G ratio of 1.97 and a beta of 1.18.

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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Earnings History and Estimates for ONEOK (NYSE:OKE)

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