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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 $58.60, marking a +1.58% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.45%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 3.58%.
Prior to today's trading, shares of the natural gas company had gained 0.68% over the past month. This has outpaced the Oils-Energy sector's loss of 1.31% and lagged the S&P 500's gain of 5.01% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.99, up 7.61% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.15 billion, down 14.1% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.48 per share and revenue of $20.97 billion, which would represent changes of +42.71% and -6.34%, respectively, from the prior 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 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. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 10.54. This valuation marks a discount compared to its industry's average Forward P/E of 11.4.
Meanwhile, OKE's PEG ratio is currently 1.68. 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. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.68 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 223, which puts it in the bottom 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on 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 $58.60, marking a +1.58% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.45%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 3.58%.
Prior to today's trading, shares of the natural gas company had gained 0.68% over the past month. This has outpaced the Oils-Energy sector's loss of 1.31% and lagged the S&P 500's gain of 5.01% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.99, up 7.61% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.15 billion, down 14.1% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.48 per share and revenue of $20.97 billion, which would represent changes of +42.71% and -6.34%, respectively, from the prior 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 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. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 10.54. This valuation marks a discount compared to its industry's average Forward P/E of 11.4.
Meanwhile, OKE's PEG ratio is currently 1.68. 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. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.68 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 223, which puts it in the bottom 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.