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Oneok Inc. (OKE) Dips More Than Broader Markets: What You Should Know
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $56.13, moving -1.49% from the previous trading session. This change lagged the S&P 500's 0.07% loss on the day. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 0.02%.
Prior to today's trading, shares of the natural gas company had lost 13.47% over the past month. This has lagged the Oils-Energy sector's loss of 11.91% and the S&P 500's loss of 7.99% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release. On that day, Oneok Inc. is projected to report earnings of $0.94 per share, which would represent year-over-year growth of 22.08%. Meanwhile, our latest consensus estimate is calling for revenue of $6.09 billion, up 79.61% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.88 per share and revenue of $23.93 billion. These totals would mark changes of +15.82% and +44.69%, respectively, from last year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 0.11% lower. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 14.67. This valuation marks a premium compared to its industry's average Forward P/E of 10.5.
It is also worth noting that OKE currently has a PEG ratio of 1.86. 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. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.86 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 89, which puts it in the top 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Oneok Inc. (OKE) Dips More Than Broader Markets: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $56.13, moving -1.49% from the previous trading session. This change lagged the S&P 500's 0.07% loss on the day. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 0.02%.
Prior to today's trading, shares of the natural gas company had lost 13.47% over the past month. This has lagged the Oils-Energy sector's loss of 11.91% and the S&P 500's loss of 7.99% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release. On that day, Oneok Inc. is projected to report earnings of $0.94 per share, which would represent year-over-year growth of 22.08%. Meanwhile, our latest consensus estimate is calling for revenue of $6.09 billion, up 79.61% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.88 per share and revenue of $23.93 billion. These totals would mark changes of +15.82% and +44.69%, respectively, from last year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 0.11% lower. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 14.67. This valuation marks a premium compared to its industry's average Forward P/E of 10.5.
It is also worth noting that OKE currently has a PEG ratio of 1.86. 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. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.86 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 89, which puts it in the top 36% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.