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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $60.04, moving +1.52% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Heading into today, shares of the natural gas company had gained 4.36% over the past month, outpacing the Oils-Energy sector's gain of 2.96% and the S&P 500's gain of 1.44% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be August 8, 2022. In that report, analysts expect Oneok Inc. to post earnings of $0.90 per share. This would mark year-over-year growth of 16.88%. Meanwhile, our latest consensus estimate is calling for revenue of $6.4 billion, up 88.73% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.76 per share and revenue of $25.18 billion. These totals would mark changes of +12.24% and +52.25%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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 3.16% lower. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 15.72. Its industry sports an average Forward P/E of 10.44, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Meanwhile, OKE's PEG ratio is currently 2.08. 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 2.08 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% 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) Gains As Market Dips: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $60.04, moving +1.52% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.08%.
Heading into today, shares of the natural gas company had gained 4.36% over the past month, outpacing the Oils-Energy sector's gain of 2.96% and the S&P 500's gain of 1.44% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be August 8, 2022. In that report, analysts expect Oneok Inc. to post earnings of $0.90 per share. This would mark year-over-year growth of 16.88%. Meanwhile, our latest consensus estimate is calling for revenue of $6.4 billion, up 88.73% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.76 per share and revenue of $25.18 billion. These totals would mark changes of +12.24% and +52.25%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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 3.16% lower. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 15.72. Its industry sports an average Forward P/E of 10.44, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Meanwhile, OKE's PEG ratio is currently 2.08. 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 2.08 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% 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.