Shareholders might have noticed that ONEOK, Inc. (NYSE:OKE) filed its quarterly result this time last week. The early response was not positive, with shares down 6.2% to US$80.93 in the past week. It was not a great result overall. Although revenues beat expectations, hitting US$8.0b, statutory earnings missed analyst forecasts by 15%, coming in at just US$1.04 per share. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

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Following last week's earnings report, ONEOK's eight analysts are forecasting 2025 revenues to be US$25.3b, approximately in line with the last 12 months. Statutory earnings per share are predicted to expand 12% to US$5.44. In the lead-up to this report, the analysts had been modelling revenues of US$27.5b and earnings per share (EPS) of US$5.48 in 2025. So it looks like the analysts have become a bit less optimistic after the latest results announcement, with revenues expected to fall even as the company is supposed to maintain EPS.

View our latest analysis for ONEOK

The average price target was steady at US$108even though revenue estimates declined; likely suggesting the analysts place a higher value on earnings. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values ONEOK at US$147 per share, while the most bearish prices it at US$95.00. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the ONEOK's past performance and to peers in the same industry. We would highlight that ONEOK's revenue growth is expected to slow, with the forecast 2.0% annualised growth rate until the end of 2025 being well below the historical 17% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 3.2% per year. Factoring in the forecast slowdown in growth, it seems obvious that ONEOK is also expected to grow slower than other industry participants.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Unfortunately, they also downgraded their revenue estimates, and our data indicates underperformance compared to the wider industry. Even so, earnings per share are more important to the intrinsic value of the business. Even so, long term profitability is more important for the value creation process. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that in mind, we wouldn't be too quick to come to a conclusion on ONEOK. Long-term earnings power is much more important than next year's profits. We have forecasts for ONEOK going out to 2027, and you can see them free on our platform here.

Before you take the next step you should know about the 1 warning sign for ONEOK that we have uncovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.