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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
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In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $56.52, marking a +0.36% move from the previous day. This change outpaced the S&P 500's 0.2% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the natural gas company had lost 5.44% over the past month, lagging the Oils-Energy sector's loss of 0.9% and the S&P 500's loss of 3.29% 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, the Zacks Consensus Estimate for revenue is projecting net sales of $6.73 billion, up 48.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.71 per share and revenue of $24.91 billion, which would represent changes of +10.75% and +50.61%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.Recent revisions tend to reflect the latest near-term business trends. 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 remained stagnant. Oneok Inc. is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 15.19 right now. For comparison, its industry has an average Forward P/E of 10.72, which means Oneok Inc. is trading at a premium to the group.
We can also see that OKE currently has a PEG ratio of 2.01. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 2.61 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
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
In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $56.52, marking a +0.36% move from the previous day. This change outpaced the S&P 500's 0.2% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the natural gas company had lost 5.44% over the past month, lagging the Oils-Energy sector's loss of 0.9% and the S&P 500's loss of 3.29% 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, the Zacks Consensus Estimate for revenue is projecting net sales of $6.73 billion, up 48.28% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.71 per share and revenue of $24.91 billion, which would represent changes of +10.75% and +50.61%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.Recent revisions tend to reflect the latest near-term business trends. 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 remained stagnant. Oneok Inc. is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 15.19 right now. For comparison, its industry has an average Forward P/E of 10.72, which means Oneok Inc. is trading at a premium to the group.
We can also see that OKE currently has a PEG ratio of 2.01. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 2.61 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.