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P/E Ratio Insights for ONEOK

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Benzinga Insights
·2 min read
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Right now, ONEOK Inc. (NYSE:OKE) share price is at $44.78, after a 2.82% decrease. Over the past month, the stock spiked by 6.32%, but over the past year, it actually fell by 38.90%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio.

The stock is currently higher from its 52 week low by 268.26%. Assuming that all other factors are held constant, this could present itself as an opportunity for investors trying to diversify their portfolio with Oil, Gas & Consumable Fuels stocks, and capitalize on the lower share price observed over the year.

Price Candles
Price Candles

The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E indicates that shareholders do not expect the stock to perform better in the future, and that the company is probably undervalued. It shows that shareholders are less than willing to pay a high share price, because they do not expect the company to exhibit growth, in terms of future earnings.

View more earnings on OKE

Most often, an industry will prevail in a particular phase of a business cycle, than other industries.

ONEOK Inc. has a lower P/E than the aggregate P/E of 46.9 of the Oil, Gas & Consumable Fuels industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued.

Price Candles
Price Candles

P/E ratio is not always a great indicator of the company's performance. Depending on the earnings makeup of a company, investors can become unable to attain key insights from trailing earnings.

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