Oneok Inc. (OKE) Stock Moves -0.01%: What You Should Know
In the latest market close, Oneok Inc. (OKE) reached $77.11, with a -0.01% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.29%. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the natural gas company had gained 11.59% over the past month, outpacing the Oils-Energy sector's gain of 6.58% and the S&P 500's gain of 4.42% in that time.
The investment community will be closely monitoring the performance of Oneok Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of $1.10, showcasing a 52.99% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.62 billion, indicating a 24.21% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.64 per share and a revenue of $22.51 billion, indicating changes of -15.33% and +27.31%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Oneok Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.6% higher. Right now, Oneok Inc. possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Oneok Inc. is presently trading at a Forward P/E ratio of 16.64. This indicates a premium in contrast to its industry's Forward P/E of 12.39.
Investors should also note that OKE has a PEG ratio of 2.39 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 average PEG ratio for the Oil and Gas - Production Pipeline - MLB industry stood at 2.39 at the close of the market yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 160, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
