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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
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In the latest market close, Oneok Inc. (OKE - Free Report) reached $82.90, with a +1.44% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.27%.
The natural gas company's shares have seen a decrease of 5.54% over the last month, not keeping up with the Oils-Energy sector's gain of 4.61% and the S&P 500's gain of 6.9%.
The upcoming earnings release of Oneok Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.31, reflecting a 1.5% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $6.78 billion, indicating a 38.46% growth compared to the corresponding quarter of the prior year.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.23 per share and revenue of $28.92 billion. These results would represent year-over-year changes of +1.16% and +33.3%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Oneok Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.12% upward. Right now, Oneok Inc. possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Oneok Inc. is currently exchanging hands at a Forward P/E ratio of 15.61. This signifies a premium in comparison to the average Forward P/E of 12.14 for its industry.
Meanwhile, OKE's PEG ratio is currently 1.65. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Production Pipeline - MLB industry had an average PEG ratio of 1.14 as trading concluded yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 186, finds itself in the bottom 25% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
In the latest market close, Oneok Inc. (OKE - Free Report) reached $82.90, with a +1.44% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.27%.
The natural gas company's shares have seen a decrease of 5.54% over the last month, not keeping up with the Oils-Energy sector's gain of 4.61% and the S&P 500's gain of 6.9%.
The upcoming earnings release of Oneok Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be $1.31, reflecting a 1.5% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $6.78 billion, indicating a 38.46% growth compared to the corresponding quarter of the prior year.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.23 per share and revenue of $28.92 billion. These results would represent year-over-year changes of +1.16% and +33.3%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Oneok Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.12% upward. Right now, Oneok Inc. possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Oneok Inc. is currently exchanging hands at a Forward P/E ratio of 15.61. This signifies a premium in comparison to the average Forward P/E of 12.14 for its industry.
Meanwhile, OKE's PEG ratio is currently 1.65. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Production Pipeline - MLB industry had an average PEG ratio of 1.14 as trading concluded yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 186, finds itself in the bottom 25% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.