ONEOK Inc (NYSE: OKE) has reported earnings for its second fiscal quarter (ending June 30) of $1.33 versus $1.04 for the same period a year ago — an increase of 28%. This result exceeded the consensus estimate of $1.19 by $0.14. For the latest four quarters through June 30, E.P.S. were $4.60 versus $5.42 for the same period a year ago — a decline of -15%.
Recent Price Action
ONEOK Inc (NYSE: OKE) stock declined modestly by -1.9% on 8/5/24. The stock closed at $78.62. Moreover, above average trading volume at 139% of normal accompanied the decline. Relative to the market the stock has been strong over the last nine months but has declined -4.1% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, OKE is expected to continue to be a major Value Builder.
ONEOK has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. ONEOK has a neutral Appreciation Score of 45 but a very high Power Rating of 85, triggering the Positive Value Trend Rating.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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