Trading Report: The Oneok Inc. (OKE) to Post Q3 2016 Earnings of $0.46 Per Share, Jefferies Group Forecasts

The Oneok Inc. (OKE) to Post Q3 2016 Earnings of $0.46 Per Share, Jefferies Group Forecasts

Oneok Inc. (NYSE:OKE) – Investment analysts at Jefferies Group cut their Q3 2016 earnings per share estimates for shares of Oneok in a research note issued on Thursday. Jefferies Group analyst C. Sighinolfi now expects that the firm will post earnings of $0.46 per share for the quarter, down from their previous forecast of $0.47. Jefferies Group currently 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 released 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 prior year, the business earned $0.36 earnings per share.

Several other research firms have also recently issued reports on OKE. Morgan Stanley cut Oneok from an “overweight” rating to an “equal weight” rating and raised their target price 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. Deutsche Bank AG raised Oneok from a “sell” rating to a “hold” rating and raised their target price for the stock from $49.00 to $52.00 in a research note on Monday. RBC Capital Markets reissued a “sector perform” rating and issued a $46.00 target price (up from $39.00) on shares of Oneok in a research note on Tuesday, August 16th. Royal Bank Of Canada raised their target price on Oneok from $39.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 16th. Finally, Zacks Investment Research lowered shares of Oneok from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Fourteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Oneok presently has an average rating of “Hold” and a consensus target price of $40.79.

Oneok (NYSE:OKE) traded up 0.70% during trading on Friday, hitting $50.15. The stock had a trading volume of 843,483 shares. The company has a market capitalization of $10.55 billion, a P/E ratio of 38.14 and a beta of 1.10. The stock’s 50-day moving average price is $48.80 and its 200-day moving average price is $43.49. Oneok has a 1-year low of $18.84 and a 1-year high of $51.72.

A number of institutional investors have recently made changes to their positions in the company. Washington Trust Bank raised its position in shares of 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 during the last quarter. Van ECK Associates Corp raised its position in shares of Oneok by 1.0% in the second quarter. Van ECK Associates Corp now owns 3,207 shares of the company’s stock worth $152,000 after buying an additional 33 shares during the last quarter. Prospera Financial Services Inc raised its position in shares of Oneok by 1.0% in the third quarter. Prospera Financial Services Inc now owns 4,777 shares of the company’s stock worth $246,000 after buying an additional 48 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in shares of Oneok by 0.5% in the second quarter. Johnson Investment Counsel Inc. now owns 15,090 shares of the company’s stock worth $716,000 after buying an additional 75 shares during the last quarter. Finally, WFG Advisors LP raised its position in shares of 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 during the last quarter. Institutional investors own 72.28% of the company’s stock.

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