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Oneok Inc. (OKE) Gains But Lags Market: What You Should Know

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Oneok Inc. (OKE) closed at $60.29 in the latest trading session, marking a +0.42% move from the prior day. The stock lagged the S&P 500's daily gain of 2.62%. Elsewhere, the Dow gained 1.37%, while the tech-heavy Nasdaq added 0.05%.

Coming into today, shares of the natural gas company had gained 5.37% in the past month. In that same time, the Oils-Energy sector gained 2.56%, while the S&P 500 gained 0.24%.

Oneok Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 8, 2022. The company is expected to report EPS of $0.86, up 11.69% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.4 billion, up 88.73% from the prior-year quarter.

OKE's full-year Zacks Consensus Estimates are calling for earnings of $3.73 per share and revenue of $25.18 billion. These results would represent year-over-year changes of +11.34% and +52.25%, respectively.

It is also important to note the recent changes to analyst estimates for Oneok Inc.These revisions help to show the ever-changing nature of 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 3.97% lower. 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 16.1. This valuation marks a premium compared to its industry's average Forward P/E of 10.65.

Meanwhile, OKE's PEG ratio is currently 2.13. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 2.13 as of yesterday's close.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 25, which puts it in the top 10% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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