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Oneok Inc. (OKE) Advances While Market Declines: Some Information for Investors
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Oneok Inc. (OKE - Free Report) closed at $90.94 in the latest trading session, marking a +1.13% move from the prior day. This change outpaced the S&P 500's 0.37% loss on the day. Meanwhile, the Dow experienced a drop of 0.18%, and the technology-dominated Nasdaq saw a decrease of 0.84%.
The stock of natural gas company has risen by 2.97% in the past month, lagging the Oils-Energy sector's gain of 8.79% and overreaching the S&P 500's loss of 3.7%.
The investment community will be closely monitoring the performance of Oneok Inc. in its forthcoming earnings report. On that day, Oneok Inc. is projected to report earnings of $1.29 per share, which would represent year-over-year growth of 24.04%. Alongside, our most recent consensus estimate is anticipating revenue of $9.16 billion, indicating a 13.93% upward movement from the same quarter last year.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.51 per share and revenue of $38.15 billion. These results would represent year-over-year changes of +1.66% and +13.46%, respectively.
It's also important for investors to be aware of any recent modifications 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4.28% lower. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 16.32. This valuation marks a premium compared to its industry average Forward P/E of 13.2.
It is also worth noting that OKE currently has a PEG ratio of 6.83. 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 1.52 as trading concluded yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 200, this industry ranks in the bottom 19% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Oneok Inc. (OKE) Advances While Market Declines: Some Information for Investors
Oneok Inc. (OKE - Free Report) closed at $90.94 in the latest trading session, marking a +1.13% move from the prior day. This change outpaced the S&P 500's 0.37% loss on the day. Meanwhile, the Dow experienced a drop of 0.18%, and the technology-dominated Nasdaq saw a decrease of 0.84%.
The stock of natural gas company has risen by 2.97% in the past month, lagging the Oils-Energy sector's gain of 8.79% and overreaching the S&P 500's loss of 3.7%.
The investment community will be closely monitoring the performance of Oneok Inc. in its forthcoming earnings report. On that day, Oneok Inc. is projected to report earnings of $1.29 per share, which would represent year-over-year growth of 24.04%. Alongside, our most recent consensus estimate is anticipating revenue of $9.16 billion, indicating a 13.93% upward movement from the same quarter last year.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.51 per share and revenue of $38.15 billion. These results would represent year-over-year changes of +1.66% and +13.46%, respectively.
It's also important for investors to be aware of any recent modifications 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4.28% lower. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 16.32. This valuation marks a premium compared to its industry average Forward P/E of 13.2.
It is also worth noting that OKE currently has a PEG ratio of 6.83. 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 1.52 as trading concluded yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 200, this industry ranks in the bottom 19% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.