In the latest trading session, Oneok Inc. (OKE) closed at $32.15, marking a -0.09% move from the previous day. This change lagged the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.36%, and the Nasdaq, a tech-heavy index, added 0.52%.
Prior to today's trading, shares of the natural gas company had lost 20.7% over the past month. This has lagged the Utilities sector's loss of 2.49% and the S&P 500's gain of 2.08% in that time.
Wall Street will be looking for positivity from OKE as it approaches its next earnings report date. In that report, analysts expect OKE to post earnings of $0.63 per share. This would mark a year-over-year decline of 16%. Our most recent consensus estimate is calling for quarterly revenue of $1.38 billion, down 43.69% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $1.63 per share and revenue of $8.02 billion. These results would represent year-over-year changes of -46.91% and -21.12%, respectively.
Investors might also notice recent changes to analyst estimates for OKE. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.14% higher within the past month. OKE is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, OKE is holding a Forward P/E ratio of 19.69. This valuation marks a premium compared to its industry's average Forward P/E of 16.52.
We can also see that OKE currently has a PEG ratio of 3.28. 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 Utility - Gas Distribution industry currently had an average PEG ratio of 2.97 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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