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Oneok Inc. (OKE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Oneok Inc. (OKE - Free Report) closed at $94.72 in the latest trading session, marking a -2.32% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.63%, and the Nasdaq, a tech-heavy index, lost 0.78%.
The stock of natural gas company has risen by 1.73% in the past month, lagging the Oils-Energy sector's gain of 2% and overreaching the S&P 500's loss of 1.99%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. The company is predicted to post an EPS of $1.45, indicating a 2.68% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $11.77 billion, indicating a 36.34% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.7 per share and revenue of $43.83 billion. These totals would mark changes of +5.17% and +30.34%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Oneok Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 shifted 1.26% downward. As of now, Oneok Inc. holds a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 17.01. This valuation marks a premium compared to its industry average Forward P/E of 14.55.
One should further note that OKE currently holds a PEG ratio of 2.77. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Production Pipeline - MLB industry was having an average PEG ratio of 2.1.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Oneok Inc. (OKE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Oneok Inc. (OKE - Free Report) closed at $94.72 in the latest trading session, marking a -2.32% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.45%. Meanwhile, the Dow lost 0.63%, and the Nasdaq, a tech-heavy index, lost 0.78%.
The stock of natural gas company has risen by 1.73% in the past month, lagging the Oils-Energy sector's gain of 2% and overreaching the S&P 500's loss of 1.99%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. The company is predicted to post an EPS of $1.45, indicating a 2.68% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $11.77 billion, indicating a 36.34% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.7 per share and revenue of $43.83 billion. These totals would mark changes of +5.17% and +30.34%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Oneok Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 shifted 1.26% downward. As of now, Oneok Inc. holds a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 17.01. This valuation marks a premium compared to its industry average Forward P/E of 14.55.
One should further note that OKE currently holds a PEG ratio of 2.77. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Production Pipeline - MLB industry was having an average PEG ratio of 2.1.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.