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Oneok Inc. (OKE) Dips More Than Broader Markets: What You Should Know

·3 min read

Oneok Inc. (OKE) closed at $62.46 in the latest trading session, marking a -1.54% move from the prior day. This change lagged the S&P 500's 1.13% loss on the day. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.16%.

Heading into today, shares of the natural gas company had gained 0.76% over the past month, lagging the Oils-Energy sector's gain of 2.38% and outpacing the S&P 500's loss of 7.59% in that time.

Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. On that day, Oneok Inc. is projected to report earnings of $0.95 per share, which would represent year-over-year growth of 7.95%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.73 billion, up 48.28% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.71 per share and revenue of $24.91 billion, which would represent changes of +10.75% and +50.61%, respectively, from the prior year.

Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 0.08% higher within the past month. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 17.11. This valuation marks a premium compared to its industry's average Forward P/E of 11.65.

It is also worth noting that OKE currently has a PEG ratio of 2.27. 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. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 2.88 at yesterday's closing price.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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