Oneok Inc. (OKE - Free Report) closed at $36.35 in the latest trading session, marking a +0.5% move from the prior day. This move outpaced the S&P 500's daily gain of 0.06%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.33%.
Investors will be hoping for strength from OKE as it approaches its next earnings release. The company is expected to report EPS of $0.63, down 16% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.20 billion, down 10.28% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $1.63 per share and revenue of $9.50 billion. These results would represent year-over-year changes of -46.91% and -6.49%, respectively.
Investors might also notice recent changes to analyst estimates for OKE. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.06% lower within the past month. OKE currently has a Zacks Rank of #3 (Hold).
Digging into valuation, OKE currently has a Forward P/E ratio of 22.14. This represents a premium compared to its industry's average Forward P/E of 16.91.
Meanwhile, OKE's PEG ratio is currently 3.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Utility - Gas Distribution industry currently had an average PEG ratio of 2.83 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.