Oneok Inc. (OKE) Stock Sinks As Market Gains: What You Should Know
Oneok Inc. (OKE) closed the most recent trading day at $71.27, moving -0.45% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.41%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 2.2%.
The the stock of natural gas company has risen by 4.91% in the past month, leading the Oils-Energy sector's gain of 3.47% and the S&P 500's gain of 2.9%.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $1.09, reflecting a 0.93% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $5.65 billion, indicating a 12.35% upward movement from the same quarter last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 4.09% fall in the Zacks Consensus EPS estimate. Currently, Oneok Inc. is carrying a Zacks Rank of #3 (Hold).
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 15.58. This represents a premium compared to its industry's average Forward P/E of 12.12.
Also, we should mention that OKE has a PEG ratio of 2.04. 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 of the close of trade yesterday, the Oil and Gas - Production Pipeline - MLB industry held an average PEG ratio of 2.04.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
