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Oneok Inc. (OKE) Dips More Than Broader Markets: What You Should Know
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $67.54, moving -1.44% from the previous trading session. This change lagged the S&P 500's 1.22% loss on the day. Meanwhile, the Dow lost 0.83%, and the Nasdaq, a tech-heavy index, lost 1.56%.
Prior to today's trading, shares of the natural gas company had gained 4.88% over the past month. This has outpaced the Oils-Energy sector's gain of 4.83% and the S&P 500's gain of 0.54% in that time.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. On that day, Oneok Inc. is projected to report earnings of $1.09 per share, which would represent year-over-year growth of 13.54%. Meanwhile, our latest consensus estimate is calling for revenue of $4.61 billion, down 22.01% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.63 per share and revenue of $17.67 billion, which would represent changes of +46.61% and -21.08%, 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.
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. The Zacks Consensus EPS estimate has moved 0.06% lower within the past month. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 12.16. This valuation marks a discount compared to its industry's average Forward P/E of 12.54.
Also, we should mention that OKE has a PEG ratio of 1.85. 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. 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 group has a Zacks Industry Rank of 169, putting it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Oneok Inc. (OKE) Dips More Than Broader Markets: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $67.54, moving -1.44% from the previous trading session. This change lagged the S&P 500's 1.22% loss on the day. Meanwhile, the Dow lost 0.83%, and the Nasdaq, a tech-heavy index, lost 1.56%.
Prior to today's trading, shares of the natural gas company had gained 4.88% over the past month. This has outpaced the Oils-Energy sector's gain of 4.83% and the S&P 500's gain of 0.54% in that time.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. On that day, Oneok Inc. is projected to report earnings of $1.09 per share, which would represent year-over-year growth of 13.54%. Meanwhile, our latest consensus estimate is calling for revenue of $4.61 billion, down 22.01% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.63 per share and revenue of $17.67 billion, which would represent changes of +46.61% and -21.08%, 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.
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. The Zacks Consensus EPS estimate has moved 0.06% lower within the past month. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 12.16. This valuation marks a discount compared to its industry's average Forward P/E of 12.54.
Also, we should mention that OKE has a PEG ratio of 1.85. 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. 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 group has a Zacks Industry Rank of 169, putting it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.