We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Oneok Inc. (OKE) Stock Moves -1.68%: What You Should Know
Read MoreHide Full Article
Oneok Inc. (OKE - Free Report) closed at $66.13 in the latest trading session, marking a -1.68% move from the prior day. This change was narrower than the S&P 500's daily loss of 2%. Meanwhile, the Dow lost 2.06%, and the Nasdaq, a tech-heavy index, lost 2.32%.
Coming into today, shares of the natural gas company had lost 3.54% in the past month. In that same time, the Oils-Energy sector lost 3.93%, while the S&P 500 gained 2.88%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be February 27, 2023. In that report, analysts expect Oneok Inc. to post earnings of $1.02 per share. This would mark year-over-year growth of 20%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.61 billion, up 3.46% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Oneok Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.54% higher. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 14.26. This represents a premium compared to its industry's average Forward P/E of 11.32.
It is also worth noting that OKE currently has a PEG ratio of 1.63. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 4.67 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% 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.
To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Oneok Inc. (OKE) Stock Moves -1.68%: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $66.13 in the latest trading session, marking a -1.68% move from the prior day. This change was narrower than the S&P 500's daily loss of 2%. Meanwhile, the Dow lost 2.06%, and the Nasdaq, a tech-heavy index, lost 2.32%.
Coming into today, shares of the natural gas company had lost 3.54% in the past month. In that same time, the Oils-Energy sector lost 3.93%, while the S&P 500 gained 2.88%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be February 27, 2023. In that report, analysts expect Oneok Inc. to post earnings of $1.02 per share. This would mark year-over-year growth of 20%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.61 billion, up 3.46% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Oneok Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.54% higher. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 14.26. This represents a premium compared to its industry's average Forward P/E of 11.32.
It is also worth noting that OKE currently has a PEG ratio of 1.63. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 4.67 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% 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.
To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.