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ONEOK (OKE) to Report Q3 Earnings: What's in the Cards?

Zacks Equity Research
·2-min read

ONEOK, Inc. OKE is scheduled to release third-quarter 2021 earnings on Nov2, after market close. The company delivered an earnings surprise of 1.32% in the last reported quarter.

Let’s see how things are placed ahead of the upcoming quarterly announcement.

Factors to Consider

Improving volumes of natural gas and natural gas liquids in ONEOK’s pipelines along with a diversified customer base and fee-based income are likely to have benefited the utility. Its presence in the key producing regions and contributions from projects completed in 2020 are expected to have aided the company’s financials.

Expectations

The Zacks Consensus Estimate for third-quarter 2021 sales is pegged at $5.32 billion, which indicates an increase of 144.85% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for third-quarter earnings is pegged at 83 cents per share, implying an 18.57% rise from the year-earlier quarter’s reported number.

What Our Quantitative Model Predicts

Our proven model predictsan 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, which is the case here.

ONEOK, Inc. Price and EPS Surprise

ONEOK, Inc. Price and EPS Surprise
ONEOK, Inc. Price and EPS Surprise

ONEOK, Inc. price-eps-surprise | ONEOK, Inc. Quote

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Earnings ESP: ONEOK has an Earnings ESP of +0.05%. 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.

Other Stocks to Consider

Here are some other companies worth considering from the same sector, which according to our model, have the right combination of elements to beat on earnings in the upcoming releases.

American Water Works Company, Inc. AWK is set to release third-quarter 2021 results on Nov2. It has an Earnings ESP of +0.83% and a Zacks Rank of 3, currently.

Edison International EIX is set to release third-quarter 2021 results on Nov 2. It has an Earnings ESP of +1.46% and a Zacks Rank #2 at present.

Pinnacle West Capital Corporation PNW is set to release third-quarter 2021 results on Nov 5. It has an Earnings ESP of +0.30% and a Zacks Rank of 3, currently.


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Edison International (EIX) : Free Stock Analysis Report

ONEOK, Inc. (OKE) : Free Stock Analysis Report

Pinnacle West Capital Corporation (PNW) : Free Stock Analysis Report

American Water Works Company, Inc. (AWK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research