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ONEOK (OKE) to Report Q4 Earnings: What's in the Offing?
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ONEOK Inc. (OKE - Free Report) is scheduled to release fourth-quarter 2023 results on Feb 26, after market close. The company delivered an earnings surprise of 1.02% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
ONEOK’s fourth-quarter earnings are likely to continue to benefit from strong fee-based contracts, as more than 90% of the amount is likely to be fee-based.
In September 2023, ONEOK completed the acquisition of Magellan Midstream Partners, L.P., which will help create a highly complementary asset base. This is expected to have boosted the company’s overall performance in the to-be-reported quarter.
The company’s fourth-quarter earnings are expected to have gained from increased Natural Gas Liquid (NGL) volumes and rising global demand.
Q4 Expectations
The Zacks Consensus Estimate for earnings is pegged at $1.21 per share, indicating a year-over-year increase of 12%. The Zacks Consensus Estimate for revenues is pinned at $5.55 billion, indicating a deterioration of 23.9% year over year.
The Zacks Consensus Estimate for Raw feed throughput is pinned at 1,430 thousand barrels of oil, up 20.1% year over year. The consensus mark for Natural gas gathered per day in pegged at 3,249 billion British thermal units, up 10.6% year over year.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict 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. That is not the case here, as you will see below.
Earnings ESP: The company’s Earnings ESP is -0.22%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors may consider the following players from the same sector, as these have the right combination of elements to come up with an earnings beat this reporting cycle.
Cheniere Energy (LNG - Free Report) is expected to post an earnings beat when it announces fourth-quarter results on Feb 22, before market open. It has an Earnings ESP of +37.98% and a Zacks Rank #3 at present.
The company’s long-term (three to five years) earnings growth rate is 25.77%. It delivered an average earnings surprise of 92% in the last four quarters.
Southwestern Energy (SWN - Free Report) is expected to post an earnings beat when it announces fourth-quarter results on Feb 22, after market close. It has an Earnings ESP of +1.59% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for SWN’s fourth-quarter earnings is pegged at 13 cents per share. It delivered an average earnings surprise of 13.8% in the last four quarters.
Pembina Pipeline (PBA - Free Report) is likely to report an earnings beat when it announces fourth-quarter results on Feb 22, after market close. It has an Earnings ESP of +0.45% and a Zacks Rank #3 at present.
PBA’s long-term earnings growth rate is 3%. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 55 cents per share.
Image: Bigstock
ONEOK (OKE) to Report Q4 Earnings: What's in the Offing?
ONEOK Inc. (OKE - Free Report) is scheduled to release fourth-quarter 2023 results on Feb 26, after market close. The company delivered an earnings surprise of 1.02% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors to Consider
ONEOK’s fourth-quarter earnings are likely to continue to benefit from strong fee-based contracts, as more than 90% of the amount is likely to be fee-based.
In September 2023, ONEOK completed the acquisition of Magellan Midstream Partners, L.P., which will help create a highly complementary asset base. This is expected to have boosted the company’s overall performance in the to-be-reported quarter.
The company’s fourth-quarter earnings are expected to have gained from increased Natural Gas Liquid (NGL) volumes and rising global demand.
Q4 Expectations
The Zacks Consensus Estimate for earnings is pegged at $1.21 per share, indicating a year-over-year increase of 12%. The Zacks Consensus Estimate for revenues is pinned at $5.55 billion, indicating a deterioration of 23.9% year over year.
The Zacks Consensus Estimate for Raw feed throughput is pinned at 1,430 thousand barrels of oil, up 20.1% year over year. The consensus mark for Natural gas gathered per day in pegged at 3,249 billion British thermal units, up 10.6% year over year.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict 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. That is not the case here, as you will see below.
ONEOK, Inc. Price and EPS Surprise
ONEOK, Inc. price-eps-surprise | ONEOK, Inc. Quote
Earnings ESP: The company’s Earnings ESP is -0.22%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, ONEOK has a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.
Stocks to Consider
Investors may consider the following players from the same sector, as these have the right combination of elements to come up with an earnings beat this reporting cycle.
Cheniere Energy (LNG - Free Report) is expected to post an earnings beat when it announces fourth-quarter results on Feb 22, before market open. It has an Earnings ESP of +37.98% and a Zacks Rank #3 at present.
The company’s long-term (three to five years) earnings growth rate is 25.77%. It delivered an average earnings surprise of 92% in the last four quarters.
Southwestern Energy (SWN - Free Report) is expected to post an earnings beat when it announces fourth-quarter results on Feb 22, after market close. It has an Earnings ESP of +1.59% and a Zacks Rank #3 at present.
The Zacks Consensus Estimate for SWN’s fourth-quarter earnings is pegged at 13 cents per share. It delivered an average earnings surprise of 13.8% in the last four quarters.
Pembina Pipeline (PBA - Free Report) is likely to report an earnings beat when it announces fourth-quarter results on Feb 22, after market close. It has an Earnings ESP of +0.45% and a Zacks Rank #3 at present.
PBA’s long-term earnings growth rate is 3%. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 55 cents per share.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.