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Oneok Inc. (OKE) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $64.37, marking a +1.63% move from the previous day. This move outpaced the S&P 500's daily gain of 0.74%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 11.47%.
Coming into today, shares of the natural gas company had gained 5.08% in the past month. In that same time, the Oils-Energy sector gained 1%, while the S&P 500 gained 3.34%.
Oneok Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 7, 2023. The company is expected to report EPS of $0.99, up 7.61% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.15 billion, down 14.1% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.48 per share and revenue of $20.97 billion. These results would represent year-over-year changes of +42.71% and -6.34%, respectively.
It is also important to note the recent changes to analyst estimates for Oneok Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 remained stagnant. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 11.57. This valuation marks a discount compared to its industry's average Forward P/E of 12.29.
Also, we should mention that OKE has a PEG ratio of 1.85. 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. OKE's industry had an average PEG ratio of 1.85 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $64.37, marking a +1.63% move from the previous day. This move outpaced the S&P 500's daily gain of 0.74%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 11.47%.
Coming into today, shares of the natural gas company had gained 5.08% in the past month. In that same time, the Oils-Energy sector gained 1%, while the S&P 500 gained 3.34%.
Oneok Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 7, 2023. The company is expected to report EPS of $0.99, up 7.61% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.15 billion, down 14.1% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.48 per share and revenue of $20.97 billion. These results would represent year-over-year changes of +42.71% and -6.34%, respectively.
It is also important to note the recent changes to analyst estimates for Oneok Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 remained stagnant. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 11.57. This valuation marks a discount compared to its industry's average Forward P/E of 12.29.
Also, we should mention that OKE has a PEG ratio of 1.85. 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. OKE's industry had an average PEG ratio of 1.85 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.