Will stock surge before Earnings results? ONEOK (NYSE:OKE)


Earnings results for ONEOK (NYSE:OKE)

ONEOK, Inc. is expected* to report earnings on 10/27/2020 after market close. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 9 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.59. The reported EPS for the same quarter last year was $0.74.

ONEOK last posted its earnings results on July 28th, 2020. The utilities provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.51 by $0.19. The company earned $1.66 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Its revenue for the quarter was down 32.4% compared to the same quarter last year. ONEOK has generated $3.07 earnings per share over the last year and currently has a price-to-earnings ratio of 19.8. ONEOK has confirmed that its next quarterly earnings report will be published on Tuesday, October 27th, 2020.

Analyst Opinion on ONEOK (NYSE:OKE)

20 Wall Street analysts have issued ratings and price targets for ONEOK in the last 12 months. Their average twelve-month price target is $35.33, predicting that the stock has a possible upside of 19.73%. The high price target for OKE is $79.00 and the low price target for OKE is $25.00. There are currently 2 sell ratings, 11 hold ratings and 7 buy ratings for the stock, resulting in a consensus rating of “Hold.”

ONEOK has received a consensus rating of Hold. The company’s average rating score is 2.25, and is based on 7 buy ratings, 11 hold ratings, and 2 sell ratings. According to analysts’ consensus price target of $35.33, ONEOK has a forecasted upside of 19.7% from its current price of $29.51. ONEOK has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Dividend Strength: ONEOK (NYSE:OKE)

ONEOK is a leading dividend payer. It pays a dividend yield of 12.24%, putting its dividend yield in the top 25% of dividend-paying stocks. ONEOK has only been increasing its dividend for 3 years. The dividend payout ratio of ONEOK is 121.82%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, ONEOK will have a dividend payout ratio of 146.67% in the coming year. This indicates that ONEOK may not be able to sustain their current dividend.

Insiders buying/selling: ONEOK (NYSE:OKE)

In the past three months, ONEOK insiders have not sold or bought any company stock. Only 0.60% of the stock of ONEOK is held by insiders. 66.65% of the stock of ONEOK is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of ONEOK (NYSE:OKE

Earnings for ONEOK are expected to grow by 5.37% in the coming year, from $2.42 to $2.55 per share. The P/E ratio of ONEOK is 19.81, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 19.34. The P/E ratio of ONEOK is 19.81, which means that it is trading at a less expensive P/E ratio than the Utilities sector average P/E ratio of about 21.29. ONEOK has a PEG Ratio of 1.95. PEG Ratios above 1 indicate that a company could be overvalued. ONEOK has a P/B Ratio of 1.96. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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