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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 $59.70, moving -1.97% from the previous trading session. This change lagged the S&P 500's 1.13% loss on the day. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the natural gas company had lost 4.09% over the past month. This has lagged the Oils-Energy sector's loss of 1.89% and was narrower than the S&P 500's loss of 7.59% 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 $0.95 per share, which would represent year-over-year growth of 7.95%. Meanwhile, our latest consensus estimate is calling for revenue of $6.73 billion, up 48.28% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.71 per share and revenue of $24.91 billion. These totals would mark changes of +10.75% and +50.61%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 0.08% higher. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 16.42. Its industry sports an average Forward P/E of 11.31, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
We can also see that OKE currently has a PEG ratio of 2.18. 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. OKE's industry had an average PEG ratio of 2.79 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 90, 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.
View the Zacks #1 Rank List
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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 $59.70, moving -1.97% from the previous trading session. This change lagged the S&P 500's 1.13% loss on the day. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the natural gas company had lost 4.09% over the past month. This has lagged the Oils-Energy sector's loss of 1.89% and was narrower than the S&P 500's loss of 7.59% 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 $0.95 per share, which would represent year-over-year growth of 7.95%. Meanwhile, our latest consensus estimate is calling for revenue of $6.73 billion, up 48.28% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.71 per share and revenue of $24.91 billion. These totals would mark changes of +10.75% and +50.61%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 0.08% higher. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 16.42. Its industry sports an average Forward P/E of 11.31, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
We can also see that OKE currently has a PEG ratio of 2.18. 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. OKE's industry had an average PEG ratio of 2.79 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 90, 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.