Oneok Inc. (OKE) Gains But Lags Market: What You Should Know
Oneok Inc. (OKE) closed at $70.09 in the latest trading session, marking a +1.13% move from the prior day. The stock lagged the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 10.96%.
Coming into today, shares of the natural gas company had gained 3.51% in the past month. In that same time, the Oils-Energy sector gained 4.41%, while the S&P 500 lost 0.23%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. The company is expected to report EPS of $1.04, up 22.35% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.74 billion, up 5.82% from the year-ago period.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.19% higher. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 15.51. This represents a premium compared to its industry's average Forward P/E of 10.22.
Investors should also note that OKE has a PEG ratio of 1.84 right now. 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 1.92 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 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
