Oneok Inc. Forecasted to Earn Q3 2016 Earnings of $0.46 Per Share (OKE)
Oneok Inc. (NYSE:OKE) – Jefferies Group dropped their Q3 2016 earnings estimates for shares of Oneok in a report released on Thursday. Jefferies Group analyst C. Sighinolfi now anticipates that the brokerage will post earnings of $0.46 per share for the quarter, down from their previous estimate of $0.47. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Oneok’s FY2016 earnings at $1.72 EPS and FY2017 earnings at $1.78 EPS.
Oneok (NYSE:OKE) last announced its earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.03. Oneok had a net margin of 3.58% and a return on equity of 9.41%. During the same period in the previous year, the business earned $0.36 EPS.
Several other brokerages have also recently weighed in on OKE. Citigroup Inc. upped their price target on Oneok from $35.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, June 17th. Argus cut Oneok from a “buy” rating to a “hold” rating in a research note on Friday, June 17th. Morgan Stanley cut Oneok from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $48.00 to $50.00 in a research note on Tuesday, October 4th. They noted that the move was a valuation call. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $46.00 price target (up from $39.00) on shares of Oneok in a research note on Tuesday, August 16th. Finally, Royal Bank Of Canada upped their price target on Oneok from $39.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.79.
Shares of Oneok (NYSE:OKE) opened at 50.13 on Friday. Oneok has a 12 month low of $18.84 and a 12 month high of $51.72. The stock’s 50 day moving average price is $48.89 and its 200 day moving average price is $43.65. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 38.12 and a beta of 1.10.
A number of hedge funds and other institutional investors have recently bought and sold shares of OKE. Washington Trust Bank increased its position in Oneok by 0.6% in the third quarter. Washington Trust Bank now owns 2,007 shares of the company’s stock worth $103,000 after buying an additional 11 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Oneok during the second quarter worth $123,000. Baker Ellis Asset Management LLC purchased a new position in Oneok during the second quarter worth $133,000. WFG Advisors LP increased its position in Oneok by 3.1% in the second quarter. WFG Advisors LP now owns 2,947 shares of the company’s stock worth $140,000 after buying an additional 88 shares in the last quarter. Finally, Euclid Advisors LLC purchased a new position in Oneok during the second quarter worth $149,000. 72.28% of the stock is currently owned by institutional investors.
Oneok Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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