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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $66.19 in the latest trading session, marking a +0.3% move from the prior day. This move outpaced the S&P 500's daily loss of 0.23%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.09%.
Prior to today's trading, shares of the natural gas company had gained 2.5% over the past month. This has outpaced the Oils-Energy sector's gain of 2.43% and the S&P 500's loss of 1.43% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.09, up 13.54% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.61 billion, down 22.01% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.63 per share and revenue of $17.67 billion, which would represent changes of +46.61% and -21.08%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Oneok Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 11.71. Its industry sports an average Forward P/E of 12.67, so we one might conclude that Oneok Inc. is trading at a discount comparatively.
It is also worth noting that OKE currently has a PEG ratio of 1.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.78 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $66.19 in the latest trading session, marking a +0.3% move from the prior day. This move outpaced the S&P 500's daily loss of 0.23%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.09%.
Prior to today's trading, shares of the natural gas company had gained 2.5% over the past month. This has outpaced the Oils-Energy sector's gain of 2.43% and the S&P 500's loss of 1.43% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.09, up 13.54% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.61 billion, down 22.01% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.63 per share and revenue of $17.67 billion, which would represent changes of +46.61% and -21.08%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Oneok Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 11.71. Its industry sports an average Forward P/E of 12.67, so we one might conclude that Oneok Inc. is trading at a discount comparatively.
It is also worth noting that OKE currently has a PEG ratio of 1.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.78 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.