Oneok Inc. (OKE) Falls More Steeply Than Broader Market: What Investors Need to Know
The latest trading session saw Oneok Inc. (OKE) ending at $69.60, denoting a -1.49% adjustment from its last day's close. This change lagged the S&P 500's 0.37% loss on the day. Meanwhile, the Dow experienced a drop of 0.62%, and the technology-dominated Nasdaq saw a decrease of 0.19%.
The natural gas company's shares have seen an increase of 3.52% over the last month, surpassing the Oils-Energy sector's loss of 0.52% and the S&P 500's gain of 1.56%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. The company's upcoming EPS is projected at $1.09, signifying a 0.93% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $5.65 billion, indicating a 12.35% growth compared to the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Oneok Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant. Right now, Oneok Inc. possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 15.38 right now. This indicates a premium in contrast to its industry's Forward P/E of 12.26.
Also, we should mention that OKE has a PEG ratio of 2.01. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Production Pipeline - MLB industry held an average PEG ratio of 2.01.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 107, this industry ranks in the top 43% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
