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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 the most recent trading day at $65.69, moving -0.45% from the previous trading session. This change lagged the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.91%.
Coming into today, shares of the natural gas company had lost 1.64% in the past month. In that same time, the Oils-Energy sector lost 2.56%, while the S&P 500 gained 1.24%.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be May 2, 2023. The company is expected to report EPS of $1.81, up 108.05% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.56 billion, up 2.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.40 per share and revenue of $22.3 billion, which would represent changes of +40.63% and -0.37%, respectively, from the prior year.
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. 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. 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, 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. The Zacks Consensus EPS estimate has moved 2.06% higher within the past month. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 12.23 right now. For comparison, its industry has an average Forward P/E of 11.27, which means Oneok Inc. is trading at a premium to the group.
Meanwhile, OKE's PEG ratio is currently 1.4. 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. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 4.61 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 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.
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Oneok Inc. (OKE) Stock Sinks As Market Gains: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $65.69, moving -0.45% from the previous trading session. This change lagged the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.91%.
Coming into today, shares of the natural gas company had lost 1.64% in the past month. In that same time, the Oils-Energy sector lost 2.56%, while the S&P 500 gained 1.24%.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be May 2, 2023. The company is expected to report EPS of $1.81, up 108.05% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.56 billion, up 2.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.40 per share and revenue of $22.3 billion, which would represent changes of +40.63% and -0.37%, respectively, from the prior year.
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. 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. 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, 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. The Zacks Consensus EPS estimate has moved 2.06% higher within the past month. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 12.23 right now. For comparison, its industry has an average Forward P/E of 11.27, which means Oneok Inc. is trading at a premium to the group.
Meanwhile, OKE's PEG ratio is currently 1.4. 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. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 4.61 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 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.