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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 $68.30 in the latest trading session, marking a -0.32% move from the prior day. This change lagged the S&P 500's 1.13% gain on the day. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.87%.
Coming into today, shares of the natural gas company had gained 10.86% in the past month. In that same time, the Oils-Energy sector gained 8.56%, while the S&P 500 gained 2.65%.
Oneok Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Oneok Inc. to post earnings of $0.88 per share. This would mark year-over-year growth of 2.33%. Meanwhile, our latest consensus estimate is calling for revenue of $5.73 billion, up 79.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.79 per share and revenue of $21.73 billion, which would represent changes of +13.13% and +31.36%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 2.43% higher. Oneok Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 18.07. Its industry sports an average Forward P/E of 11.06, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Investors should also note that OKE has a PEG ratio of 2.14 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. OKE's industry had an average PEG ratio of 3.22 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow OKE in the coming trading sessions, be sure to utilize 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 $68.30 in the latest trading session, marking a -0.32% move from the prior day. This change lagged the S&P 500's 1.13% gain on the day. Elsewhere, the Dow gained 0.74%, while the tech-heavy Nasdaq added 0.87%.
Coming into today, shares of the natural gas company had gained 10.86% in the past month. In that same time, the Oils-Energy sector gained 8.56%, while the S&P 500 gained 2.65%.
Oneok Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Oneok Inc. to post earnings of $0.88 per share. This would mark year-over-year growth of 2.33%. Meanwhile, our latest consensus estimate is calling for revenue of $5.73 billion, up 79.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.79 per share and revenue of $21.73 billion, which would represent changes of +13.13% and +31.36%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 2.43% higher. Oneok Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 18.07. Its industry sports an average Forward P/E of 11.06, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Investors should also note that OKE has a PEG ratio of 2.14 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. OKE's industry had an average PEG ratio of 3.22 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.