ONEOK Partners (NYSE: OKS) is expected to report Q2 earnings on July 31. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict ONEOK Partners' revenues will improve 4.8% and EPS will grow 6.0%.

The average estimate for revenue is $2.92 billion. On the bottom line, the average EPS estimate is $0.71.

Revenue details
Last quarter, ONEOK Partners recorded revenue of $2.59 billion. GAAP reported sales were 3.8% higher than the prior-year quarter's $2.50 billion.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, EPS came in at $0.91. GAAP EPS of $0.91 for Q1 were 57% higher than the prior-year quarter's $0.58 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 16.2%, 300 basis points better than the prior-year quarter. Operating margin was 9.9%, 280 basis points better than the prior-year quarter. Net margin was 9.2%, 320 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $11.19 billion. The average EPS estimate is $2.93.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 648 members out of 663 rating the stock outperform, and 15 members rating it underperform. Among 241 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 236 give ONEOK Partners a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ONEOK Partners is hold, with an average price target of $59.59.

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