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Oneok Inc. (OKE) Stock Moves -0.27%: What You Should Know
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $66.25, moving -0.27% from the previous trading session. This change was narrower than the S&P 500's 0.41% loss on the day. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Coming into today, shares of the natural gas company had gained 3.18% in the past month. In that same time, the Oils-Energy sector gained 3.28%, while the S&P 500 gained 6.51%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be May 2, 2023. The company is expected to report EPS of $1.81, up 108.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.56 billion, up 2.13% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.40 per share and revenue of $22.3 billion. These totals would mark changes of +40.63% and -0.37%, respectively, from last year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.57% lower. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 12.31. This represents a premium compared to its industry's average Forward P/E of 11.06.
Investors should also note that OKE has a PEG ratio of 1.41 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 4.69 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Oneok Inc. (OKE) Stock Moves -0.27%: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $66.25, moving -0.27% from the previous trading session. This change was narrower than the S&P 500's 0.41% loss on the day. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Coming into today, shares of the natural gas company had gained 3.18% in the past month. In that same time, the Oils-Energy sector gained 3.28%, while the S&P 500 gained 6.51%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be May 2, 2023. The company is expected to report EPS of $1.81, up 108.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.56 billion, up 2.13% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.40 per share and revenue of $22.3 billion. These totals would mark changes of +40.63% and -0.37%, respectively, from last year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.57% lower. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 12.31. This represents a premium compared to its industry's average Forward P/E of 11.06.
Investors should also note that OKE has a PEG ratio of 1.41 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 4.69 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.