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Oneok Inc. (OKE) Gains But Lags Market: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $40.02 in the latest trading session, marking a +0.48% move from the prior day. The stock lagged the S&P 500's daily gain of 1.61%. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq added 2.55%.
Heading into today, shares of the natural gas company had gained 3.78% over the past month, outpacing the Utilities sector's gain of 0.14% and the S&P 500's loss of 0.35% in that time.
Investors will be hoping for strength from OKE as it approaches its next earnings release, which is expected to be February 22, 2021. On that day, OKE is projected to report earnings of $0.71 per share, which would represent a year-over-year decline of 7.79%. Meanwhile, our latest consensus estimate is calling for revenue of $2.91 billion, up 9.21% from the prior-year quarter.
Any recent changes to analyst estimates for OKE should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.83% higher. OKE is currently a Zacks Rank #2 (Buy).
Investors should also note OKE's current valuation metrics, including its Forward P/E ratio of 13.68. Its industry sports an average Forward P/E of 15.02, so we one might conclude that OKE is trading at a discount comparatively.
Investors should also note that OKE has a PEG ratio of 2.96 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 Utility - Gas Distribution was holding an average PEG ratio of 2.6 at yesterday's closing price.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Oneok Inc. (OKE) Gains But Lags Market: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $40.02 in the latest trading session, marking a +0.48% move from the prior day. The stock lagged the S&P 500's daily gain of 1.61%. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq added 2.55%.
Heading into today, shares of the natural gas company had gained 3.78% over the past month, outpacing the Utilities sector's gain of 0.14% and the S&P 500's loss of 0.35% in that time.
Investors will be hoping for strength from OKE as it approaches its next earnings release, which is expected to be February 22, 2021. On that day, OKE is projected to report earnings of $0.71 per share, which would represent a year-over-year decline of 7.79%. Meanwhile, our latest consensus estimate is calling for revenue of $2.91 billion, up 9.21% from the prior-year quarter.
Any recent changes to analyst estimates for OKE should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.83% higher. OKE is currently a Zacks Rank #2 (Buy).
Investors should also note OKE's current valuation metrics, including its Forward P/E ratio of 13.68. Its industry sports an average Forward P/E of 15.02, so we one might conclude that OKE is trading at a discount comparatively.
Investors should also note that OKE has a PEG ratio of 2.96 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 Utility - Gas Distribution was holding an average PEG ratio of 2.6 at yesterday's closing price.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 188, putting it in the bottom 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.