Seaport Res Ptn Comments on ONEOK's Q4 Earnings (NYSE:OKE)

ONEOK, Inc. (NYSE:OKE - Free Report) - Research analysts at Seaport Res Ptn raised their Q4 2024 earnings estimates for shares of ONEOK in a research note issued to investors on Wednesday, February 5th. Seaport Res Ptn analyst S. Sibal now forecasts that the utilities provider will earn $1.39 per share for the quarter, up from their previous estimate of $1.36. The consensus estimate for ONEOK's current full-year earnings is $5.07 per share. Seaport Res Ptn also issued estimates for ONEOK's FY2027 earnings at $6.56 EPS.

Other equities research analysts have also recently issued research reports about the stock. Barclays initiated coverage on shares of ONEOK in a research note on Thursday, February 6th. They set an "equal weight" rating and a $105.00 price objective on the stock. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 16th. Mizuho upgraded ONEOK to a "hold" rating in a research report on Thursday, November 7th. Wells Fargo & Company lowered ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Finally, Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a "buy" rating and a $105.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $103.92.

ONEOK Stock Performance

Shares of NYSE OKE traded up $1.24 during midday trading on Monday, reaching $98.86. 4,336,496 shares of the stock were exchanged, compared to its average volume of 4,040,992. The firm has a market cap of $57.75 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 3.67 and a beta of 1.70. ONEOK has a twelve month low of $68.65 and a twelve month high of $118.07. The firm has a 50-day simple moving average of $102.23 and a two-hundred day simple moving average of $97.94. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.17%. ONEOK's payout ratio is currently 86.19%.

Hedge Funds Weigh In On ONEOK

A number of institutional investors and hedge funds have recently made changes to their positions in OKE. Kieckhefer Group LLC purchased a new stake in ONEOK during the fourth quarter worth approximately $30,000. Access Investment Management LLC purchased a new stake in ONEOK during the third quarter worth approximately $37,000. Canton Hathaway LLC purchased a new stake in ONEOK during the fourth quarter worth approximately $40,000. Values First Advisors Inc. purchased a new stake in ONEOK during the third quarter worth approximately $44,000. Finally, Fortitude Family Office LLC lifted its stake in ONEOK by 37.4% during the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider's stock worth $45,000 after purchasing an additional 135 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.