ONEOK Inc. ($OKE) Stock Forecast: Up 5.2% Today

What is ONEOK Inc.?

ONEOK Inc. (OKE) saw a significant uptrend in its stock price today.

Why is ONEOK Inc. going up?

OKE stock is up 5.2% on Aug 6, 2024 14:29

• ONEOK (OKE) exceeded EPS forecasts but fell short of revenue predictions in the second quarter, demonstrating a strong performance in terms of bottom-line results.
• Although revenue was below expectations, the company's adjusted EBITDA showed a year-over-year increase, highlighting efficient operations and cost control.
• Investor confidence in ONEOK's ability to meet annual financial targets following the second quarter results has bolstered the bullish market trend.
• The second-quarter profit growth and outperformance against forecasts indicate that despite revenue hurdles, ONEOK's profitability and strategic trajectory are in line with market consensus, fueling positive market sentiment.

OKE Price Chart

OKE Technical Analysis

OKE News

ONEOK ( OKE ) Q2 Earnings Top Estimates, Revenues Miss

ONEOK's (OKE) second-quarter 2024 earnings and revenues increase year over year. Adjusted EBITDA also increases during the same period.

https://www.zacks.com/stock/news/2316787/oneok-oke-q2-earnings-top-estimates-revenues-miss

OKE Stock Earnings: ONEOK Beats EPS, Misses Revenue for Q2 2024

ONEOK (NYSE: OKE ) just reported results for the second quarter of 2024. ONEOK reported earnings per share of $1.33. This was above the analyst estimate for EPS of $1.20. The company reported revenue of $4.89 billion. This was 18.30% worse than the analyst estimate for revenue of $5.99 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com. More From InvestorPlace Legendary Investor Predicts: “Forget AI… THIS Technology Is the Future” The post OKE Stock Earnings: ONEOK Beats EPS, Misses Revenue for Q2 2024 appeared first on InvestorPlace .

https://investorplace.com/earning-results/2024/08/oke-stock-earnings-oneok-for-q2-of-2024/

Oneok Inc. ( OKE ) Beats Q2 Earnings Estimates

Oneok (OKE) delivered earnings and revenue surprises of 12.71% and 11.34%, respectively, for the quarter ended June 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2316430/oneok-inc-oke-beats-q2-earnings-estimates

Oneok Maintains Annual Financial Projections Post-Q2 Results

Oneok (OKE) has provided an update. Our company disclosed its operational results for the quarter ending on June 30, 2024, on August 5, 2024, and c…

https://www.tipranks.com/news/company-announcements/oneok-maintains-annual-financial-projections-post-q2-results

ONEOK Inc. Profit Rises In Q2, Beats Estimates

WASHINGTON (dpa-AFX) - ONEOK Inc. (OKE) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates.The company''s earnings came in at $780 …

https://www.finanznachrichten.de/nachrichten-2024-08/62913503-oneok-inc-profit-rises-in-q2-beats-estimates-020.htm

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ONEOK Inc. Price History

16.10.2023 - OKE Stock was down 0.6%

• ONEOK announced a reduced dividend payout, which may have disappointed investors and led to a bearish market movement.
• Coastal Investment Advisors Inc. increased its holdings in ONEOK, indicating positive sentiment towards the stock. However, this did not prevent the bearish movement.
• Jones Financial Companies Lllp sold a significant number of shares in ONEOK, suggesting a lack of confidence in the stock.
• Despite beating earnings estimates and completing an acquisition, ONEOK's stock still experienced a decline, possibly due to overall market conditions or other factors not mentioned in the provided articles.

15.04.2023 - OKE Stock was down 5.8%

• ONEOK Inc. (OKE) agreed to acquire all outstanding units of Magellan Midstream Partners L.P. (MMP) in a cash-and-stock transaction valued at about $18.8 billion. The acquisition might have been seen as a negative move by investors, leading to the bearish movement.
• The acquisition will create a Tulsa, Oklahoma-based midstream giant with a combined 25,000 miles of liquids-oriented pipelines. The investors might have been concerned about the integration of the two companies and the potential risks involved.
• Cash-rich oil and gas companies are seeking acquisitions after a lengthy dry spell, which might have caused investors to be cautious about the deal and the future prospects of the company.
• The deal will combine ONEOK and Magellan, forming the second-largest U.S.-based pipeline company by stock-market value. However, the investors might have been concerned about the competition in the market and the impact on the company's profitability.

06.07.2024 - OKE Stock was up 5.2%

• ONEOK (OKE) exceeded EPS forecasts but fell short of revenue predictions in the second quarter, demonstrating a strong performance in terms of bottom-line results.
• Although revenue was below expectations, the company's adjusted EBITDA showed a year-over-year increase, highlighting efficient operations and cost control.
• Investor confidence in ONEOK's ability to meet annual financial targets following the second quarter results has bolstered the bullish market trend.
• The second-quarter profit growth and outperformance against forecasts indicate that despite revenue hurdles, ONEOK's profitability and strategic trajectory are in line with market consensus, fueling positive market sentiment.