In the last trading session, 7.1 million ONEOK Inc. (NYSE:OKE) shares changed hands as the company’s beta touched 1.64. With the company’s per share price at $67.54 changed hands at -$0.99 or -1.44% during last session, the market valuation stood at $30.68B. OKE’s last price was a discount, traded about -5.97% off its 52-week high of $71.57. The share price had its 52-week low at $50.50, which suggests the last value was 25.23% up since then. When we look at ONEOK Inc.’s average trading volume, we note the 10-day average is 4.02 million shares, with the 3-month average coming to 2.76 million.
Analysts gave the ONEOK Inc. (OKE) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 1 out of 20 analysts rate the stock as a Sell, with a further 5 assigning it an Overweight rating. Of the remaining, 8 recommended OKE as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. ONEOK Inc.’s EPS for the current quarter is expected to be $1.08.
ONEOK Inc. (NYSE:OKE) trade information
Instantly OKE was in red as seen at the end of in last trading. With action 4.28%, the performance over the past five days has been green. The drop to weekly highs of 68.73 on Friday, 09/15/23 subtracted -1.44% to the stock’s daily price. The company’s shares are showing year-to-date upside of 2.80%, with the 5-day performance at 4.28% in the green. However, in the 30-day time frame, ONEOK Inc. (NYSE:OKE) is 3.53% up. Looking at the short shares, we see there were 15.19 million shares sold at short interest cover period of 6.42 days.
The consensus price target for the stock as assigned by Wall Street analysts is $72.44, meaning bulls need an upside of 6.76% from its current market value. According to analyst projections, OKE’s forecast low is $61.00 with $80.00 as the target high. To hit the forecast high, the stock’s price needs a -18.45% plunge from its current level, while the stock would need to tank 9.68% for it to hit the projected low.
ONEOK Inc. (OKE) estimates and forecasts
Data shows that the ONEOK Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 10.69% over the past 6 months, a 46.61% in annual growth rate that is considerably higher than the industry average of 2.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for ONEOK Inc. will rise 12.50%, while the growth in revenue is estimated to hit 7.40% for the next quarter. Year-over-year growth is forecast to reach -19.20% down from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $4.44 billion. 3 analysts are of the opinion that ONEOK Inc.’s revenue for the quarter ending Dec 2023 will be $4.78 billion. The company’s revenue for the corresponding quarters a year ago was $6.12 billion and $5.03 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -27.50%. The estimates for the next quarter sales put growth at -4.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 16.80%. The 2023 estimates are for ONEOK Inc. earnings to increase by 14.60%, but the outlook for the next 5-year period is at 8.20% per year.
ONEOK Inc. is expected to release its next quarterly earnings report in October. The 5.66% annual yield figure for the share gives it an annual dividend of 3.82. It is important to note, however, that the 5.66% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
ONEOK Inc. (NYSE:OKE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.46% of ONEOK Inc. shares while 70.38% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 70.70%. There are 70.38% institutions holding the ONEOK Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 12.00% of the shares, roughly 53.71 million OKE shares worth $3.32 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 10.34% or 46.31 million shares worth $2.86 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. With 13.94 million shares estimated at $860.35 million under it, the former controlled 3.11% of total outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held about 2.72% of the shares, roughly 12.18 million shares worth around $816.43 million.