ONEOK, Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component ONEOK, Inc. (NYSE:OKE) will unveil its latest earnings on Tuesday, August 2, 2011. ONEOK Inc. is an energy company that distributes natural gas primarily in the United States.

ONEOK, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 55 cents per share, a rise of 41% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 53 cents. For the year, analysts are projecting net income of $3.23 per share, a rise of 5.6% from last year.

Past Earnings Performance: The company has missed estimates in the last two quarters. In the first quarter, it missed the mark by 13 cents as a result of reporting profit of $1.19 against an estimate of net income of $1.32 per share. In the fourth quarter of the last fiscal year, the company fell short of forecasts by 3 cents.

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Wall St. Revenue Expectations: On average, analysts predict $4 billion in revenue this quarter, a rise of 42.3% from the year ago quarter. Analysts are forecasting total revenue of $16.25 billion for the year, a rise of 24.7% from last year’s revenue of $13.03 billion.

Analyst Ratings: Analysts seem relatively indifferent about ONEOK with six of seven analysts surveyed maintaining a hold rating.

Key Stats:

The company has now seen net income fall in each of the last two quarters. In the first quarter, net income fell 15.8% from the year earlier quarter, while the figure dropped 11.1% in the fourth quarter of the last fiscal year.

Revenue has fallen in the past two quarters. In first quarter, revenue declined 1.5% to $3.87 billion from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 10%.

Competitors to Watch: Oneok Partners LP (NYSE:OKS), Atmos Energy Corporation (NYSE:ATO), Western Gas Partners, LP (NYSE:WES), Targa Resources Corp. (NYSE:TRGP), National Fuel Gas Co. (NYSE:NFG), RGC Resources Inc. (NASDAQ:RGCO), Crosstex Energy, Inc. (NASDAQ:XTXI), UGI Corporation (NYSE:UGI), Chesapeake Utilities Corp. (NYSE:CPK), and Southwest Gas Corporation (NYSE:SWX).

Stock Price Performance: During May 2, 2011 to July 27, 2011, the stock price had risen $4.09 (5.9%) from $69.75 to $73.84. The stock price saw one of its best stretches over the last year between November 29, 2010 and December 10, 2010 when shares rose for 10-straight days, rising 6.2% (+$3.10) over that span. It saw one of its worst periods between July 6, 2011 and July 14, 2011 when shares fell for seven-straight days, falling 2.5% (-$1.89) over that span. Shares are up $19.28 (+35.3%) year to date.

(Source: Xignite Financials)

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