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Oneok Inc. (OKE) Outpaces Stock Market Gains: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $55.78 in the latest trading session, marking a +1.11% move from the prior day. This move outpaced the S&P 500's daily gain of 0.02%.
Prior to today's trading, shares of the natural gas company had gained 2.24% over the past month. This has outpaced the Utilities sector's loss of 1.39% and the S&P 500's gain of 0.04% in that time.
Investors will be hoping for strength from OKE as it approaches its next earnings release. On that day, OKE is projected to report earnings of $0.78 per share, which would represent year-over-year growth of 143.75%. Our most recent consensus estimate is calling for quarterly revenue of $3.9 billion, up 134.62% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $3.31 per share and revenue of $13.93 billion. These results would represent year-over-year changes of +133.1% and +63.09%, respectively.
Investors should also note any recent changes to analyst estimates for OKE. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 2.66% higher. OKE is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that OKE has a Forward P/E ratio of 16.65 right now. Its industry sports an average Forward P/E of 16.94, so we one might conclude that OKE is trading at a discount comparatively.
Also, we should mention that OKE has a PEG ratio of 2.77. 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. Utility - Gas Distribution stocks are, on average, holding a PEG ratio of 2.97 based on yesterday's closing prices.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 125, putting it in the top 50% 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) Outpaces Stock Market Gains: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $55.78 in the latest trading session, marking a +1.11% move from the prior day. This move outpaced the S&P 500's daily gain of 0.02%.
Prior to today's trading, shares of the natural gas company had gained 2.24% over the past month. This has outpaced the Utilities sector's loss of 1.39% and the S&P 500's gain of 0.04% in that time.
Investors will be hoping for strength from OKE as it approaches its next earnings release. On that day, OKE is projected to report earnings of $0.78 per share, which would represent year-over-year growth of 143.75%. Our most recent consensus estimate is calling for quarterly revenue of $3.9 billion, up 134.62% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $3.31 per share and revenue of $13.93 billion. These results would represent year-over-year changes of +133.1% and +63.09%, respectively.
Investors should also note any recent changes to analyst estimates for OKE. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 2.66% higher. OKE is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that OKE has a Forward P/E ratio of 16.65 right now. Its industry sports an average Forward P/E of 16.94, so we one might conclude that OKE is trading at a discount comparatively.
Also, we should mention that OKE has a PEG ratio of 2.77. 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. Utility - Gas Distribution stocks are, on average, holding a PEG ratio of 2.97 based on yesterday's closing prices.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 125, putting it in the top 50% 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.