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Oneok Inc. (OKE) Stock Sinks As Market Gains: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $62.43 in the latest trading session, marking a -0.78% move from the prior day. This change lagged the S&P 500's daily gain of 1.58%. At the same time, the Dow added 1.22%, and the tech-heavy Nasdaq gained 0.46%.
Coming into today, shares of the natural gas company had gained 0.5% in the past month. In that same time, the Utilities sector lost 3.98%, while the S&P 500 lost 5.54%.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be February 28, 2022. On that day, Oneok Inc. is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 27.54%. Meanwhile, our latest consensus estimate is calling for revenue of $6.49 billion, up 152.49% from the prior-year quarter.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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.
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. The Zacks Consensus EPS estimate has moved 2.08% lower within the past month. Oneok Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 17. This represents a premium compared to its industry's average Forward P/E of 16.03.
Investors should also note that OKE has a PEG ratio of 2.16 right now. 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. Utility - Gas Distribution stocks are, on average, holding a PEG ratio of 2.69 based on yesterday's closing prices.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 29% 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) Stock Sinks As Market Gains: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $62.43 in the latest trading session, marking a -0.78% move from the prior day. This change lagged the S&P 500's daily gain of 1.58%. At the same time, the Dow added 1.22%, and the tech-heavy Nasdaq gained 0.46%.
Coming into today, shares of the natural gas company had gained 0.5% in the past month. In that same time, the Utilities sector lost 3.98%, while the S&P 500 lost 5.54%.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be February 28, 2022. On that day, Oneok Inc. is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 27.54%. Meanwhile, our latest consensus estimate is calling for revenue of $6.49 billion, up 152.49% from the prior-year quarter.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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.
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. The Zacks Consensus EPS estimate has moved 2.08% lower within the past month. Oneok Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 17. This represents a premium compared to its industry's average Forward P/E of 16.03.
Investors should also note that OKE has a PEG ratio of 2.16 right now. 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. Utility - Gas Distribution stocks are, on average, holding a PEG ratio of 2.69 based on yesterday's closing prices.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 29% 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.