In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $66.49, marking a +0.85% move from the previous day. This move outpaced the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 1.37%.
Heading into today, shares of the natural gas company had gained 13.3% over the past month, outpacing the Oils-Energy sector's gain of 3.85% and the S&P 500's gain of 3.43% in that time.
Oneok Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 7, 2023. The company is expected to report EPS of $0.99, up 7.61% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.15 billion, down 14.1% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.48 per share and revenue of $20.97 billion, which would represent changes of +42.71% and -6.34%, respectively, from the prior year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 12.04. For comparison, its industry has an average Forward P/E of 12.46, which means Oneok Inc. is trading at a discount to the group.
Investors should also note that OKE has a PEG ratio of 1.92 right now. 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 was holding an average PEG ratio of 1.92 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $66.49, marking a +0.85% move from the previous day. This move outpaced the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 1.37%.
Heading into today, shares of the natural gas company had gained 13.3% over the past month, outpacing the Oils-Energy sector's gain of 3.85% and the S&P 500's gain of 3.43% in that time.
Oneok Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 7, 2023. The company is expected to report EPS of $0.99, up 7.61% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.15 billion, down 14.1% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.48 per share and revenue of $20.97 billion, which would represent changes of +42.71% and -6.34%, respectively, from the prior year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 12.04. For comparison, its industry has an average Forward P/E of 12.46, which means Oneok Inc. is trading at a discount to the group.
Investors should also note that OKE has a PEG ratio of 1.92 right now. 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 was holding an average PEG ratio of 1.92 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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