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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
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In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $89.52, marking a +2.53% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.01%. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.46%.
The natural gas company's stock has dropped by 1.02% in the past month, exceeding the Oils-Energy sector's loss of 9.23% and the S&P 500's loss of 1.4%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. The company's upcoming EPS is projected at $1.41, signifying a 5.22% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.81 billion, up 37.11% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.5 per share and a revenue of $46.96 billion, indicating changes of +1.48% and +39.64%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.16% downward. Currently, Oneok Inc. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 15.87. For comparison, its industry has an average Forward P/E of 13.29, which means Oneok Inc. is trading at a premium to the group.
Investors should also note that OKE has a PEG ratio of 6.78 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.29 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 35% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $89.52, marking a +2.53% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.01%. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.46%.
The natural gas company's stock has dropped by 1.02% in the past month, exceeding the Oils-Energy sector's loss of 9.23% and the S&P 500's loss of 1.4%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. The company's upcoming EPS is projected at $1.41, signifying a 5.22% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.81 billion, up 37.11% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.5 per share and a revenue of $46.96 billion, indicating changes of +1.48% and +39.64%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.16% downward. Currently, Oneok Inc. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 15.87. For comparison, its industry has an average Forward P/E of 13.29, which means Oneok Inc. is trading at a premium to the group.
Investors should also note that OKE has a PEG ratio of 6.78 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.29 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 35% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.