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Oneok Inc. (OKE) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $32.70, marking a +1.24% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.1%. At the same time, the Dow added 1.18%, and the tech-heavy Nasdaq gained 1.09%.
Wall Street will be looking for positivity from OKE as it approaches its next earnings report date. The company is expected to report EPS of $0.63, down 16% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.20 billion, down 10.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.63 per share and revenue of $9.50 billion. These totals would mark changes of -46.91% and -6.49%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for OKE. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.41% lower. OKE currently has a Zacks Rank of #3 (Hold).
Digging into valuation, OKE currently has a Forward P/E ratio of 19.77. This valuation marks a premium compared to its industry's average Forward P/E of 16.34.
Investors should also note that OKE has a PEG ratio of 3.29 right now. 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. OKE's industry had an average PEG ratio of 2.92 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Oneok Inc. (OKE) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $32.70, marking a +1.24% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.1%. At the same time, the Dow added 1.18%, and the tech-heavy Nasdaq gained 1.09%.
Wall Street will be looking for positivity from OKE as it approaches its next earnings report date. The company is expected to report EPS of $0.63, down 16% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.20 billion, down 10.28% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.63 per share and revenue of $9.50 billion. These totals would mark changes of -46.91% and -6.49%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for OKE. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection has moved 1.41% lower. OKE currently has a Zacks Rank of #3 (Hold).
Digging into valuation, OKE currently has a Forward P/E ratio of 19.77. This valuation marks a premium compared to its industry's average Forward P/E of 16.34.
Investors should also note that OKE has a PEG ratio of 3.29 right now. 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. OKE's industry had an average PEG ratio of 2.92 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.