ONEOK, Inc. (OKE - Free Report) is scheduled to release fourth-quarter 2021 results on Feb 28 after market close. ONEOK delivered an earnings surprise of 6.02% in the last reported quarter.
Let’s see how things have been placed ahead of the upcoming quarterly announcement.
Factors to Consider
Improving volumes of natural gas and natural gas liquids in OKE’s pipelines, along with a diversified customer base and fee-based income, are likely to have boosted fourth-quarter earnings. The completion of Bear Creek natural gas processing plant expansion has allowed ONEOK to process more volumes produced in the Rocky Mountain region during the fourth quarter.
Expectations
The Zacks Consensus Estimate for fourth-quarter earnings per share (EPS) is pegged at 88 cents, indicating a 27.5% rise from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for fourth-quarter 2021 revenues is pegged at $6.49 billion, indicating a 152.5% rise from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for ONEOK this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here as you will see below.
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ONEOK, Inc. (OKE - Free Report) is scheduled to release fourth-quarter 2021 results on Feb 28 after market close. ONEOK delivered an earnings surprise of 6.02% in the last reported quarter.
Let’s see how things have been placed ahead of the upcoming quarterly announcement.
Factors to Consider
Improving volumes of natural gas and natural gas liquids in OKE’s pipelines, along with a diversified customer base and fee-based income, are likely to have boosted fourth-quarter earnings. The completion of Bear Creek natural gas processing plant expansion has allowed ONEOK to process more volumes produced in the Rocky Mountain region during the fourth quarter.
Expectations
The Zacks Consensus Estimate for fourth-quarter earnings per share (EPS) is pegged at 88 cents, indicating a 27.5% rise from the year-ago quarter’s reported figure.
The Zacks Consensus Estimate for fourth-quarter 2021 revenues is pegged at $6.49 billion, indicating a 152.5% rise from the year-ago quarter’s reported figure.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for ONEOK this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here as you will see below.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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