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Oneok Inc. (OKE) Stock Moves -1.98%: What You Should Know
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $54.53, moving -1.98% from the previous trading session. This change was narrower than the S&P 500's 2.8% loss on the day. Elsewhere, the Dow lost 2.11%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the natural gas company had lost 9.26% in the past month. In that same time, the Oils-Energy sector gained 1.49%, while the S&P 500 lost 4.08%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be November 1, 2022. In that report, analysts expect Oneok Inc. to post earnings of $0.95 per share. This would mark year-over-year growth of 7.95%. Meanwhile, our latest consensus estimate is calling for revenue of $6.73 billion, up 48.28% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.71 per share and revenue of $24.91 billion. These totals would mark changes of +10.75% and +50.61%, respectively, from last year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Oneok Inc. currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 15. For comparison, its industry has an average Forward P/E of 10.58, which means Oneok Inc. is trading at a premium to the group.
Meanwhile, OKE's PEG ratio is currently 1.99. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 2.56 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Oneok Inc. (OKE) Stock Moves -1.98%: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $54.53, moving -1.98% from the previous trading session. This change was narrower than the S&P 500's 2.8% loss on the day. Elsewhere, the Dow lost 2.11%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the natural gas company had lost 9.26% in the past month. In that same time, the Oils-Energy sector gained 1.49%, while the S&P 500 lost 4.08%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be November 1, 2022. In that report, analysts expect Oneok Inc. to post earnings of $0.95 per share. This would mark year-over-year growth of 7.95%. Meanwhile, our latest consensus estimate is calling for revenue of $6.73 billion, up 48.28% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.71 per share and revenue of $24.91 billion. These totals would mark changes of +10.75% and +50.61%, respectively, from last year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Oneok Inc. currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 15. For comparison, its industry has an average Forward P/E of 10.58, which means Oneok Inc. is trading at a premium to the group.
Meanwhile, OKE's PEG ratio is currently 1.99. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 2.56 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.