ONEOK Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component ONEOK, Inc. (NYSE:OKE) will unveil its latest earnings on Tuesday, November 1, 2011. ONEOK 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 down from 56 cents. Between one and three months ago, the average estimate moved down. It has risen from 54 cents during the last month. For the year, analysts are projecting net income of $3.17 per share, a rise of 3.6% from last year.

Past Earnings Performance: The company showed profit of 51 cents per share versus a mean estimate of net income of last quarter. This marks the fourth month of falling short of estimates.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 51.4% in revenue from the year-earlier quarter to $4.45 billion.

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

A Look Back: In the second quarter, profit rose 32.2% to $55.1 million (51 cents a share) from $41.7 million (39 cents a share) the year earlier, but fell short analyst expectations. Revenue rose 25.2% to $3.51 billion from $2.81 billion.

Key Stats:

A year-over-year revenue increase in the second quarter snapped a streak of two consecutive quarters of revenue declines. Revenue fell 1.5% in the first quarter and 10% in the fourth quarter of the last fiscal year.

The increase in profit in the second quarter broke a streak of two consecutive quarters of year-over-year profit decreases. The figure dropped 15.8% in the first quarter and 11.1% in the fourth quarter of the last fiscal year.

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 September 28, 2011 to October 26, 2011, the stock price had risen $7.76 (11.6%) from $66.76 to $74.52. 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% (+$3.09) over that span. It saw one of its worst periods between July 21, 2011 and August 8, 2011 when shares fell for 13-straight days, falling 21.3% (-$16.06) over that span. Shares are up $20.37 (+37.6%) year to date.

(Source: Xignite Financials)

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