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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $59.59 in the latest trading session, marking a +1.64% move from the prior day. This change outpaced the S&P 500's 1.22% loss on the day. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.53%.
Prior to today's trading, shares of the natural gas company had lost 1.31% over the past month. This has was narrower than the Utilities sector's loss of 2.2% and the S&P 500's loss of 6.58% in that time.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be February 28, 2022. The company is expected to report EPS of $0.89, up 28.99% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.88 billion, up 167.83% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.42% lower. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 15.57. Its industry sports an average Forward P/E of 15.61, so we one might conclude that Oneok Inc. is trading at a discount comparatively.
Also, we should mention that OKE has a PEG ratio of 1.98. 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. OKE's industry had an average PEG ratio of 2.57 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 79, putting it in the top 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $59.59 in the latest trading session, marking a +1.64% move from the prior day. This change outpaced the S&P 500's 1.22% loss on the day. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.53%.
Prior to today's trading, shares of the natural gas company had lost 1.31% over the past month. This has was narrower than the Utilities sector's loss of 2.2% and the S&P 500's loss of 6.58% in that time.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be February 28, 2022. The company is expected to report EPS of $0.89, up 28.99% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.88 billion, up 167.83% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.42% lower. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 15.57. Its industry sports an average Forward P/E of 15.61, so we one might conclude that Oneok Inc. is trading at a discount comparatively.
Also, we should mention that OKE has a PEG ratio of 1.98. 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. OKE's industry had an average PEG ratio of 2.57 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 79, putting it in the top 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.