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ONEOK (OKE) to Report Q3 Earnings: What's in the Cards?
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ONEOK, Inc.OKE is scheduled to release third-quarter 2020 earnings on Oct 27, after market close. The company reported a negative earnings surprise of 36% in the last reported quarter.
Let’s see how things are placed ahead of the upcoming quarterly announcement.
Factors to Consider
ONEOK caters to a wide customer base and none accounts for more than 10% of its top line. Its existing 40,000 miles of natural gas liquids and natural gas pipelines, and presence in key basins are likely to have boosted results in the third quarter, as upstream companies have started to produce and ramp up their production volumes.
Its third-quarter results are likely to have benefited from the completion of the West Texas LPG pipeline expansion in June and the connection of two new third-party processing plants in the Permian Basin during the first half of 2020.
Q3 Expectations
The Zacks Consensus Estimate for third-quarter 2020 sales is pegged at $2.56 billion, which indicates an increase of 13.11% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for third-quarter earnings is pegged at 59 cents per share, implying a 20.27% fall from the year-ago quarter’s reported number.
Our proven model predicts an earnings beat for ONEOK this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: ONEOK has an Earnings ESP of +2.18%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors can consider the following players from the same sector that have the right combination of elements to beat on earnings this season.
Edison International (EIX - Free Report) is scheduled to release third-quarter results on Oct 27. It has an Earnings ESP of +2.90% and a Zacks Rank of 3.
CMS Energy (CMS - Free Report) is set to release third-quarter 2020 numbers on Oct 29. It has an Earnings ESP of +1.47% and a Zacks Rank #3.
Pinnacle West Capital Corp. (PNW - Free Report) is scheduled to release third-quarter results on Oct 30. It has an Earnings ESP of +0.98% and a Zacks Rank #3.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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ONEOK (OKE) to Report Q3 Earnings: What's in the Cards?
ONEOK, Inc. OKE is scheduled to release third-quarter 2020 earnings on Oct 27, after market close. The company reported a negative earnings surprise of 36% in the last reported quarter.
Let’s see how things are placed ahead of the upcoming quarterly announcement.
Factors to Consider
ONEOK caters to a wide customer base and none accounts for more than 10% of its top line. Its existing 40,000 miles of natural gas liquids and natural gas pipelines, and presence in key basins are likely to have boosted results in the third quarter, as upstream companies have started to produce and ramp up their production volumes.
Its third-quarter results are likely to have benefited from the completion of the West Texas LPG pipeline expansion in June and the connection of two new third-party processing plants in the Permian Basin during the first half of 2020.
Q3 Expectations
The Zacks Consensus Estimate for third-quarter 2020 sales is pegged at $2.56 billion, which indicates an increase of 13.11% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for third-quarter earnings is pegged at 59 cents per share, implying a 20.27% fall from the year-ago quarter’s reported number.
ONEOK, Inc. Price and EPS Surprise
ONEOK, Inc. price-eps-surprise | ONEOK, Inc. Quote
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for ONEOK this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: ONEOK has an Earnings ESP of +2.18%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, ONEOK carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same sector that have the right combination of elements to beat on earnings this season.
Edison International (EIX - Free Report) is scheduled to release third-quarter results on Oct 27. It has an Earnings ESP of +2.90% and a Zacks Rank of 3.
CMS Energy (CMS - Free Report) is set to release third-quarter 2020 numbers on Oct 29. It has an Earnings ESP of +1.47% and a Zacks Rank #3.
Pinnacle West Capital Corp. (PNW - Free Report) is scheduled to release third-quarter results on Oct 30. It has an Earnings ESP of +0.98% and a Zacks Rank #3.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>