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Oneok Inc. (OKE) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest close session, Oneok Inc. (OKE - Free Report) was down 1.99% at $86.86. This change lagged the S&P 500's 0.17% loss on the day. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.09%.
Coming into today, shares of the natural gas company had lost 7.7% in the past month. In that same time, the Oils-Energy sector gained 0.04%, while the S&P 500 lost 0.24%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. In that report, analysts expect Oneok Inc. to post earnings of $1.46 per share. This would mark a year-over-year decline of 2.01%. 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.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.69 per share and a revenue of $43.83 billion, representing changes of +4.98% and +30.34%, respectively, from the prior year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 shifted 1.88% downward. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 15.56. Its industry sports an average Forward P/E of 13.7, so one might conclude that Oneok Inc. is trading at a premium comparatively.
Investors should also note that OKE has a PEG ratio of 2.53 right now. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.94 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 57, putting it in the top 24% of all 250+ industries.
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.
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
In the latest close session, Oneok Inc. (OKE - Free Report) was down 1.99% at $86.86. This change lagged the S&P 500's 0.17% loss on the day. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.09%.
Coming into today, shares of the natural gas company had lost 7.7% in the past month. In that same time, the Oils-Energy sector gained 0.04%, while the S&P 500 lost 0.24%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. In that report, analysts expect Oneok Inc. to post earnings of $1.46 per share. This would mark a year-over-year decline of 2.01%. 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.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.69 per share and a revenue of $43.83 billion, representing changes of +4.98% and +30.34%, respectively, from the prior year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 shifted 1.88% downward. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 15.56. Its industry sports an average Forward P/E of 13.7, so one might conclude that Oneok Inc. is trading at a premium comparatively.
Investors should also note that OKE has a PEG ratio of 2.53 right now. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.94 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 57, putting it in the top 24% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.