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Oneok Inc. (OKE) Increases Despite Market Slip: Here's What You Need to Know
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Oneok Inc. (OKE - Free Report) closed at $74.25 in the latest trading session, marking a +2.43% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.19%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq lost 0.1%.
The natural gas company's stock has dropped by 0.47% in the past month, falling short of the Oils-Energy sector's gain of 0.24% and the S&P 500's gain of 2.26%.
Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. On that day, Oneok Inc. is projected to report earnings of $1.52 per share, which would represent a year-over-year decline of 3.18%. Meanwhile, our latest consensus estimate is calling for revenue of $10.62 billion, up 51.65% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.35 per share and a revenue of $35.18 billion, signifying shifts of +3.48% and 0%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Oneok Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 12.38 right now. This signifies a premium in comparison to the average Forward P/E of 11.83 for its industry.
It's also important to note that OKE currently trades at a PEG ratio of 4.05. 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 currently had an average PEG ratio of 1.58 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 27% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Oneok Inc. (OKE) Increases Despite Market Slip: Here's What You Need to Know
Oneok Inc. (OKE - Free Report) closed at $74.25 in the latest trading session, marking a +2.43% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.19%. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq lost 0.1%.
The natural gas company's stock has dropped by 0.47% in the past month, falling short of the Oils-Energy sector's gain of 0.24% and the S&P 500's gain of 2.26%.
Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. On that day, Oneok Inc. is projected to report earnings of $1.52 per share, which would represent a year-over-year decline of 3.18%. Meanwhile, our latest consensus estimate is calling for revenue of $10.62 billion, up 51.65% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.35 per share and a revenue of $35.18 billion, signifying shifts of +3.48% and 0%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Oneok Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 12.38 right now. This signifies a premium in comparison to the average Forward P/E of 11.83 for its industry.
It's also important to note that OKE currently trades at a PEG ratio of 4.05. 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 currently had an average PEG ratio of 1.58 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 27% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.