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Oneok Inc Up 3.28% To $75.30 After Earnings Miss

Tuesday, February 27, 2024 10:01 AM | InvestorsObserver Analysts

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Oneok Inc Up 3.28% To $75.30 After Earnings Miss

ONEOK Inc (OKE) reported less than expected earnings this afternoon for Q4 2023.

Oneok Inc's earnings came in at an EPS of $1.18 per share, 2% lower than estimates for an EPS of $1.2 per share. The firm's earnings are up 9% since reporting $1.08 per share in the same period a year ago.

Revenues were downbeat at $5.2 billion. That is an increase of 4.03% in revenues from the year-ago report and is 11.12% lower than consensus estimates set at $5.9 billion.

The stock is up 3.28% to $75.30 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Oneok Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 51. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Oneok provides natural gas gathering, processing, storage, and transportation as well as natural gas liquids transportation and fractionation. It owns extensive assets in the midcontinent, Permian, and Rocky Mountain regions.

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