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Oneok Inc. (OKE) Stock Moves -1.08%: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $77.85 in the latest trading session, marking a -1.08% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 1.2%. Elsewhere, the Dow saw a downswing of 0.65%, while the tech-heavy Nasdaq depreciated by 1.79%.
Heading into today, shares of the natural gas company had gained 2.21% over the past month, lagging the Oils-Energy sector's gain of 6.6% and outpacing the S&P 500's loss of 0.85% in that time.
Investors will be eagerly watching for the performance of Oneok Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. It is anticipated that the company will report an EPS of $1.20, marking a 48.72% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.62 billion, showing a 24.21% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.98 per share and a revenue of $22.51 billion, representing changes of -9.12% and +27.31%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Oneok Inc. Such recent modifications usually signify the changing landscape of 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. Oneok Inc. currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 15.8. This valuation marks a premium compared to its industry's average Forward P/E of 12.62.
One should further note that OKE currently holds a PEG ratio of 2.27. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 2.27 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 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Oneok Inc. (OKE) Stock Moves -1.08%: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $77.85 in the latest trading session, marking a -1.08% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 1.2%. Elsewhere, the Dow saw a downswing of 0.65%, while the tech-heavy Nasdaq depreciated by 1.79%.
Heading into today, shares of the natural gas company had gained 2.21% over the past month, lagging the Oils-Energy sector's gain of 6.6% and outpacing the S&P 500's loss of 0.85% in that time.
Investors will be eagerly watching for the performance of Oneok Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. It is anticipated that the company will report an EPS of $1.20, marking a 48.72% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $5.62 billion, showing a 24.21% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.98 per share and a revenue of $22.51 billion, representing changes of -9.12% and +27.31%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Oneok Inc. Such recent modifications usually signify the changing landscape of 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. Oneok Inc. currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 15.8. This valuation marks a premium compared to its industry's average Forward P/E of 12.62.
One should further note that OKE currently holds a PEG ratio of 2.27. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 2.27 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 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.