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Oneok Inc. (OKE) Dips More Than Broader Market: What You Should Know
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The most recent trading session ended with Oneok Inc. (OKE - Free Report) standing at $79.71, reflecting a -0.57% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.
Heading into today, shares of the natural gas company had gained 6.71% over the past month, lagging the Oils-Energy sector's gain of 7.33% and outpacing the S&P 500's gain of 3.32% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.06, showcasing a 54.7% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $5.62 billion, up 24.21% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.60 per share and revenue of $22.51 billion. These totals would mark changes of -16.06% and +27.31%, respectively, from last year.
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 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.52% lower within the past month. Oneok Inc. presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Oneok Inc. is presently trading at a Forward P/E ratio of 17.44. For comparison, its industry has an average Forward P/E of 12.97, which means Oneok Inc. is trading at a premium to the group.
It's also important to note that OKE currently trades at a PEG ratio of 2.5. 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. As of the close of trade yesterday, the Oil and Gas - Production Pipeline - MLB industry held an average PEG ratio of 2.5.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Dips More Than Broader Market: What You Should Know
The most recent trading session ended with Oneok Inc. (OKE - Free Report) standing at $79.71, reflecting a -0.57% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.
Heading into today, shares of the natural gas company had gained 6.71% over the past month, lagging the Oils-Energy sector's gain of 7.33% and outpacing the S&P 500's gain of 3.32% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.06, showcasing a 54.7% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $5.62 billion, up 24.21% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.60 per share and revenue of $22.51 billion. These totals would mark changes of -16.06% and +27.31%, respectively, from last year.
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 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.52% lower within the past month. Oneok Inc. presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Oneok Inc. is presently trading at a Forward P/E ratio of 17.44. For comparison, its industry has an average Forward P/E of 12.97, which means Oneok Inc. is trading at a premium to the group.
It's also important to note that OKE currently trades at a PEG ratio of 2.5. 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. As of the close of trade yesterday, the Oil and Gas - Production Pipeline - MLB industry held an average PEG ratio of 2.5.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.