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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 the most recent trading day at $53.31, moving -0.95% from the previous trading session. This move lagged the S&P 500's daily gain of 0.95%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.12%.
Prior to today's trading, shares of the natural gas company had lost 17.38% over the past month. This has lagged the Oils-Energy sector's loss of 7.59% and the S&P 500's loss of 3.49% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.94, up 22.08% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.09 billion, up 79.61% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.88 per share and revenue of $23.93 billion, which would represent changes of +15.82% and +44.69%, respectively, from the prior year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-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 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. Within the past 30 days, our consensus EPS projection has moved 0.18% lower. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 13.86. This represents a premium compared to its industry's average Forward P/E of 10.13.
It is also worth noting that OKE currently has a PEG ratio of 1.75. 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. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.75 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% 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.
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 the most recent trading day at $53.31, moving -0.95% from the previous trading session. This move lagged the S&P 500's daily gain of 0.95%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.12%.
Prior to today's trading, shares of the natural gas company had lost 17.38% over the past month. This has lagged the Oils-Energy sector's loss of 7.59% and the S&P 500's loss of 3.49% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.94, up 22.08% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.09 billion, up 79.61% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.88 per share and revenue of $23.93 billion, which would represent changes of +15.82% and +44.69%, respectively, from the prior year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-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 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. Within the past 30 days, our consensus EPS projection has moved 0.18% lower. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 13.86. This represents a premium compared to its industry's average Forward P/E of 10.13.
It is also worth noting that OKE currently has a PEG ratio of 1.75. 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. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.75 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 42, which puts it in the top 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.