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Oneok Inc. (OKE) Outpaces Stock Market Gains: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $64.32 in the latest trading session, marking a +1.44% move from the prior day. This move outpaced the S&P 500's daily gain of 0.71%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 4.62%.
Prior to today's trading, shares of the natural gas company had gained 4.04% over the past month. This has outpaced the Oils-Energy sector's loss of 0.2% and the S&P 500's gain of 2.65% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be August 7, 2023. In that report, analysts expect Oneok Inc. to post earnings of $0.99 per share. This would mark year-over-year growth of 7.61%. Our most recent consensus estimate is calling for quarterly revenue of $5.15 billion, down 14.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.48 per share and revenue of $20.97 billion. These totals would mark changes of +42.71% and -6.34%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 11.58. Its industry sports an average Forward P/E of 12.32, so we one might conclude that Oneok Inc. is trading at a discount comparatively.
Meanwhile, OKE's PEG ratio is currently 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 46, which puts it in the top 19% 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.
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
Oneok Inc. (OKE - Free Report) closed at $64.32 in the latest trading session, marking a +1.44% move from the prior day. This move outpaced the S&P 500's daily gain of 0.71%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 4.62%.
Prior to today's trading, shares of the natural gas company had gained 4.04% over the past month. This has outpaced the Oils-Energy sector's loss of 0.2% and the S&P 500's gain of 2.65% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be August 7, 2023. In that report, analysts expect Oneok Inc. to post earnings of $0.99 per share. This would mark year-over-year growth of 7.61%. Our most recent consensus estimate is calling for quarterly revenue of $5.15 billion, down 14.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.48 per share and revenue of $20.97 billion. These totals would mark changes of +42.71% and -6.34%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 11.58. Its industry sports an average Forward P/E of 12.32, so we one might conclude that Oneok Inc. is trading at a discount comparatively.
Meanwhile, OKE's PEG ratio is currently 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 46, which puts it in the top 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.