Oneok Inc. (OKE) Stock Dips While Market Gains: Key Facts
Oneok Inc. (OKE) closed the most recent trading day at $68.86, moving -0.17% from the previous trading session. This change lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 0.36%.
Prior to today's trading, shares of the natural gas company had lost 3.04% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.22% and lagged the S&P 500's gain of 2.4% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on February 26, 2024. The company is expected to report EPS of $1.16, up 7.41% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.55 billion, up 10.3% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Oneok Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.53% higher within the past month. At present, Oneok Inc. boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Oneok Inc. is at present trading with a Forward P/E ratio of 14.23. This indicates a premium in contrast to its industry's Forward P/E of 12.34.
Meanwhile, OKE's PEG ratio is currently 1.86. 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. As the market closed yesterday, the Oil and Gas - Production Pipeline - MLB industry was having an average PEG ratio of 1.86.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 81, finds itself in the top 33% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
