Yahoo Finance Oneok Inc. (OKE) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Oneok Inc. (OKE) closed at $67.09, marking a -0.64% move from the previous day. This change lagged the S&P 500's 0.14% gain on the day. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, added 1.54%.
Heading into today, shares of the natural gas company had lost 2.27% over the past month, lagging the Oils-Energy sector's loss of 1.39% and outpacing the S&P 500's loss of 4.07% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release. On that day, Oneok Inc. is projected to report earnings of $1.70 per share, which would represent year-over-year growth of 95.4%. Our most recent consensus estimate is calling for quarterly revenue of $5.56 billion, up 2.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.80 per share and revenue of $22.3 billion. These totals would mark changes of +25% and -0.37%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These revisions help to show the ever-changing nature of near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.4% higher. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 14.07. This valuation marks a premium compared to its industry's average Forward P/E of 11.43.
Investors should also note that OKE has a PEG ratio of 1.61 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. OKE's industry had an average PEG ratio of 4.69 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
