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Oneok Inc. (OKE) closed the most recent trading day at $58.43, moving +0.12% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.59%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq lost 0.02%.
Coming into today, shares of the natural gas company had gained 5.08% in the past month. In that same time, the Oils-Energy sector gained 0.29%, while the S&P 500 gained 7.25%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. This is expected to be August 8, 2022. On that day, Oneok Inc. is projected to report earnings of $0.91 per share, which would represent year-over-year growth of 18.18%. Meanwhile, our latest consensus estimate is calling for revenue of $6.09 billion, up 79.61% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.81 per share and revenue of $23.93 billion. These totals would mark changes of +13.73% and +44.69%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 1.84% lower. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 15.31. Its industry sports an average Forward P/E of 10.57, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Meanwhile, OKE's PEG ratio is currently 1.94. 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. OKE's industry had an average PEG ratio of 1.94 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 43, putting it in the top 18% 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) : Free Stock Analysis Report
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