ONEOK Partners (NYSE: OKS) is expected to report Q2 earnings on July 30. 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's revenues will increase 25.6% and EPS will decrease -18.8%.

The average estimate for revenue is $2.67 billion. On the bottom line, the average EPS estimate is $0.56.

Revenue details
Last quarter, ONEOK Partners notched revenue of $2.52 billion. GAAP reported sales were 3.0% lower than the prior-year quarter's $2.59 billion.

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 $0.42. GAAP EPS of $0.42 for Q1 were 54% lower than the prior-year quarter's $0.91 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 14.7%, 150 basis points worse than the prior-year quarter. Operating margin was 7.1%, 280 basis points worse than the prior-year quarter. Net margin was 6.2%, 300 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $11.15 billion. The average EPS estimate is $2.24.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 669 members out of 684 rating the stock outperform, and 15 members rating it underperform. Among 220 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 217 give ONEOK Partners a green thumbs-up, and three 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 $59.29.

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