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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 at $50.98 in the latest trading session, marking a +0.79% move from the prior day. This move outpaced the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq gained 0.03%.
Coming into today, shares of the natural gas company had lost 21.58% in the past month. In that same time, the Oils-Energy sector lost 15.96%, while the S&P 500 lost 9.7%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. 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%. Our most recent consensus estimate is calling for quarterly revenue of $6.73 billion, up 48.28% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $3.71 per share and revenue of $24.91 billion. These results would represent year-over-year changes of +10.75% and +50.61%, respectively.
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. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.08% higher. Oneok Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 13.64. For comparison, its industry has an average Forward P/E of 10.45, which means Oneok Inc. is trading at a premium to the group.
Meanwhile, OKE's PEG ratio is currently 1.81. 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 2.43 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 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains As Market Dips: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $50.98 in the latest trading session, marking a +0.79% move from the prior day. This move outpaced the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq gained 0.03%.
Coming into today, shares of the natural gas company had lost 21.58% in the past month. In that same time, the Oils-Energy sector lost 15.96%, while the S&P 500 lost 9.7%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. 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%. Our most recent consensus estimate is calling for quarterly revenue of $6.73 billion, up 48.28% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $3.71 per share and revenue of $24.91 billion. These results would represent year-over-year changes of +10.75% and +50.61%, respectively.
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. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.08% higher. Oneok Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 13.64. For comparison, its industry has an average Forward P/E of 10.45, which means Oneok Inc. is trading at a premium to the group.
Meanwhile, OKE's PEG ratio is currently 1.81. 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 2.43 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 152, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.