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

·3 min read

Oneok Inc. (OKE) closed at $60.38 in the latest trading session, marking a +1.38% move from the prior day. This move lagged the S&P 500's daily gain of 1.83%. Meanwhile, the Dow gained 1.4%, and the Nasdaq, a tech-heavy index, added 0.09%.

Coming into today, shares of the natural gas company had lost 2.97% in the past month. In that same time, the Oils-Energy sector gained 5.29%, while the S&P 500 lost 5.51%.

Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.95, up 7.95% from the prior-year quarter. 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.

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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.53% higher. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 16.06 right now. This represents a premium compared to its industry's average Forward P/E of 11.16.

Investors should also note that OKE has a PEG ratio of 2.13 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. The Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 2.76 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 92, putting it in the top 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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