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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 $66.41, moving -0.92% from the previous trading session. This move lagged the S&P 500's daily gain of 0.33%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 1.92%.
Prior to today's trading, shares of the natural gas company had gained 12.67% over the past month. This has outpaced the Oils-Energy sector's gain of 6.24% and the S&P 500's gain of 5.67% in that time.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be May 2, 2023. In that report, analysts expect Oneok Inc. to post earnings of $1.81 per share. This would mark year-over-year growth of 108.05%. Our most recent consensus estimate is calling for quarterly revenue of $5.56 billion, up 2.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.40 per share and revenue of $22.3 billion. These totals would mark changes of +40.63% and -0.37%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 0.57% lower. 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 12.42 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.33.
We can also see that OKE currently has a PEG ratio of 1.42. 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 4.84 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 107, putting it in the top 43% 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.
You can find more information on all of these metrics, and much more, on 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 $66.41, moving -0.92% from the previous trading session. This move lagged the S&P 500's daily gain of 0.33%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, added 1.92%.
Prior to today's trading, shares of the natural gas company had gained 12.67% over the past month. This has outpaced the Oils-Energy sector's gain of 6.24% and the S&P 500's gain of 5.67% in that time.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be May 2, 2023. In that report, analysts expect Oneok Inc. to post earnings of $1.81 per share. This would mark year-over-year growth of 108.05%. Our most recent consensus estimate is calling for quarterly revenue of $5.56 billion, up 2.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.40 per share and revenue of $22.3 billion. These totals would mark changes of +40.63% and -0.37%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 0.57% lower. 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 12.42 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.33.
We can also see that OKE currently has a PEG ratio of 1.42. 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 4.84 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 107, putting it in the top 43% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.