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Oneok Inc. (OKE) Stock Sinks As Market Gains: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $56.31 in the latest trading session, marking a -0.51% move from the prior day. This change lagged the S&P 500's 1.19% gain on the day. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the natural gas company had gained 7.28% over the past month, lagging the Oils-Energy sector's gain of 8.42% and outpacing the S&P 500's loss of 0.84% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be November 1, 2022. In that report, analysts expect Oneok Inc. to post earnings of $0.94 per share. This would mark year-over-year growth of 6.82%. Meanwhile, our latest consensus estimate is calling for revenue of $6.52 billion, up 43.7% from the prior-year quarter.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $3.71 per share and revenue of $23.53 billion. These results would represent year-over-year changes of +10.75% and +42.28%, respectively.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. 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 15.24. This valuation marks a premium compared to its industry's average Forward P/E of 10.81.
Investors should also note that OKE has a PEG ratio of 2.28 right now. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 2.71 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Oneok Inc. (OKE) Stock Sinks As Market Gains: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $56.31 in the latest trading session, marking a -0.51% move from the prior day. This change lagged the S&P 500's 1.19% gain on the day. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the natural gas company had gained 7.28% over the past month, lagging the Oils-Energy sector's gain of 8.42% and outpacing the S&P 500's loss of 0.84% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be November 1, 2022. In that report, analysts expect Oneok Inc. to post earnings of $0.94 per share. This would mark year-over-year growth of 6.82%. Meanwhile, our latest consensus estimate is calling for revenue of $6.52 billion, up 43.7% from the prior-year quarter.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $3.71 per share and revenue of $23.53 billion. These results would represent year-over-year changes of +10.75% and +42.28%, respectively.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate has moved 0.12% higher within the past month. 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 15.24. This valuation marks a premium compared to its industry's average Forward P/E of 10.81.
Investors should also note that OKE has a PEG ratio of 2.28 right now. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 2.71 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.