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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 $69.60, marking a +1.38% move from the previous day. This move outpaced the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Heading into today, shares of the natural gas company had gained 5.6% over the past month, outpacing the Oils-Energy sector's gain of 5.16% and the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be February 27, 2023. On that day, Oneok Inc. is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 22.35%. Meanwhile, our latest consensus estimate is calling for revenue of $5.74 billion, up 5.82% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.82% lower. Oneok Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 15.52. For comparison, its industry has an average Forward P/E of 10.25, which means Oneok Inc. is trading at a premium to the group.
Also, we should mention that OKE has a PEG ratio of 1.78. 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. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.9 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 181, putting it in the bottom 29% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $69.60, marking a +1.38% move from the previous day. This move outpaced the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Heading into today, shares of the natural gas company had gained 5.6% over the past month, outpacing the Oils-Energy sector's gain of 5.16% and the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be February 27, 2023. On that day, Oneok Inc. is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 22.35%. Meanwhile, our latest consensus estimate is calling for revenue of $5.74 billion, up 5.82% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.82% lower. Oneok Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 15.52. For comparison, its industry has an average Forward P/E of 10.25, which means Oneok Inc. is trading at a premium to the group.
Also, we should mention that OKE has a PEG ratio of 1.78. 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. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.9 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 181, putting it in the bottom 29% 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.