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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 $64.26 in the latest trading session, marking a -0.4% move from the prior day. This change lagged the S&P 500's 2.14% gain on the day. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the natural gas company had gained 2.54% over the past month, outpacing the Oils-Energy sector's gain of 2.39% and the S&P 500's loss of 5.01% in that time.
Oneok Inc. will be looking to display strength as it nears its next earnings release. On that day, Oneok Inc. is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 2.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.73 billion, up 79.5% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $3.79 per share and revenue of $21.73 billion. These results would represent year-over-year changes of +13.13% and +31.36%, respectively.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 2.43% higher within the past month. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 17.02. This represents a premium compared to its industry's average Forward P/E of 10.5.
Investors should also note that OKE has a PEG ratio of 2.02 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 Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 3.11 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% 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.
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 $64.26 in the latest trading session, marking a -0.4% move from the prior day. This change lagged the S&P 500's 2.14% gain on the day. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the natural gas company had gained 2.54% over the past month, outpacing the Oils-Energy sector's gain of 2.39% and the S&P 500's loss of 5.01% in that time.
Oneok Inc. will be looking to display strength as it nears its next earnings release. On that day, Oneok Inc. is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 2.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.73 billion, up 79.5% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $3.79 per share and revenue of $21.73 billion. These results would represent year-over-year changes of +13.13% and +31.36%, respectively.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 2.43% higher within the past month. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 17.02. This represents a premium compared to its industry's average Forward P/E of 10.5.
Investors should also note that OKE has a PEG ratio of 2.02 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 Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 3.11 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.