ONEOK (NYSE:OKE) Issues Earnings Results

ONEOK (NYSE:OKE) announced its quarterly earnings data on Monday. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.07, Zacks reports. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $8.77 billion. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.

ONEOK Stock Up 0.2%

Shares of NYSE:OKE traded up $0.20 during trading on Monday, reaching $87.53. 4,724,731 shares of the company traded hands, compared to its average volume of 4,628,948. The firm has a fifty day simple moving average of $77.00 and a 200 day simple moving average of $73.65. The firm has a market cap of $55.08 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 4.90 and a beta of 0.96. ONEOK has a 1-year low of $64.02 and a 1-year high of $103.64. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is currently 78.68%.

Institutional Investors Weigh In On ONEOK

A number of hedge funds and other institutional investors have recently made changes to their positions in OKE. Hoxton Planning & Management LLC increased its holdings in ONEOK by 2.3% in the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock worth $395,000 after buying an additional 120 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of ONEOK by 14.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,034 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 133 shares in the last quarter. Empowered Funds LLC boosted its holdings in ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in ONEOK by 1.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 11,747 shares of the utilities provider’s stock valued at $867,000 after buying an additional 138 shares in the last quarter. Finally, Zions Bancorporation National Association UT raised its holdings in ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after buying an additional 143 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on OKE shares. Jefferies Financial Group began coverage on ONEOK in a research report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target for the company. Barclays dropped their target price on ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. JPMorgan Chase & Co. downgraded shares of ONEOK from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Wells Fargo & Company reduced their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Finally, Citigroup lowered their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $86.27.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.