Oneok Inc. (OKE) Increases Yet Falls Behind Market: What Investors Need to Know
In the latest trading session, Oneok Inc. (OKE) closed at $78.93, marking a +0.69% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.89%. Elsewhere, the Dow gained 1.03%, while the tech-heavy Nasdaq added 1.25%.
Shares of the natural gas company have appreciated by 9.35% over the course of the past month, outperforming the Oils-Energy sector's gain of 5.25% and the S&P 500's gain of 3.56%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. On that day, Oneok Inc. is projected to report earnings of $1.06 per share, which would represent a year-over-year decline of 54.7%. Meanwhile, the latest consensus estimate predicts the revenue to be $5.62 billion, indicating a 24.21% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.60 per share and revenue of $22.51 billion, indicating changes of -16.06% and +27.31%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.32% higher within the past month. As of now, Oneok Inc. holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 17.05 right now. Its industry sports an average Forward P/E of 12.78, so one might conclude that Oneok Inc. is trading at a premium comparatively.
It is also worth noting that OKE currently has a PEG ratio of 2.45. 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. OKE's industry had an average PEG ratio of 2.45 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 67, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ONEOK, Inc. (OKE) : Free Stock Analysis Report
