Oneok Inc. (OKE) closed the most recent trading day at $47.77, moving +1.88% from the previous trading session. This change outpaced the S&P 500's 1.31% loss on the day. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq lost 2.7%.
Coming into today, shares of the natural gas company had gained 13.78% in the past month. In that same time, the Utilities sector lost 4.17%, while the S&P 500 gained 1.32%.
Wall Street will be looking for positivity from OKE as it approaches its next earnings report date. The company is expected to report EPS of $0.74, down 10.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.23 billion, up 50.96% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $3.11 per share and revenue of $11.61 billion. These results would represent year-over-year changes of +119.01% and +35.91%, respectively.
Investors should also note any recent changes to analyst estimates for OKE. Recent revisions tend to reflect the latest 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. 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 1.59% higher. OKE is currently a Zacks Rank #3 (Hold).
In terms of valuation, OKE is currently trading at a Forward P/E ratio of 15.06. For comparison, its industry has an average Forward P/E of 15.29, which means OKE is trading at a discount to the group.
Investors should also note that OKE has a PEG ratio of 0.67 right now. 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. Utility - Gas Distribution stocks are, on average, holding a PEG ratio of 2.41 based on yesterday's closing prices.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 76, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
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