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Oneok Inc. (OKE) Stock Sinks As Market Gains: What You Should Know
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $48.64, moving -1.82% from the previous trading session. This move lagged the S&P 500's daily gain of 1.42%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 3.69%.
Prior to today's trading, shares of the natural gas company had gained 14.07% over the past month. This has outpaced the Utilities sector's loss of 3.23% and the S&P 500's loss of 2.26% in that time.
OKE will be looking to display strength as it nears its next earnings release. On that day, OKE is projected to report earnings of $0.74 per share, which would represent a year-over-year decline of 10.84%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.23 billion, up 50.96% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.11 per share and revenue of $11.61 billion. These totals would mark changes of +119.01% and +35.91%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for OKE. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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, the Zacks Consensus EPS estimate has moved 1.24% lower. OKE currently has a Zacks Rank of #3 (Hold).
Investors should also note OKE's current valuation metrics, including its Forward P/E ratio of 15.91. This valuation marks a discount compared to its industry's average Forward P/E of 16.38.
Meanwhile, OKE's PEG ratio is currently 0.71. 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. Utility - Gas Distribution stocks are, on average, holding a PEG ratio of 2.77 based on yesterday's closing prices.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 33% 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) Stock Sinks As Market Gains: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $48.64, moving -1.82% from the previous trading session. This move lagged the S&P 500's daily gain of 1.42%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 3.69%.
Prior to today's trading, shares of the natural gas company had gained 14.07% over the past month. This has outpaced the Utilities sector's loss of 3.23% and the S&P 500's loss of 2.26% in that time.
OKE will be looking to display strength as it nears its next earnings release. On that day, OKE is projected to report earnings of $0.74 per share, which would represent a year-over-year decline of 10.84%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.23 billion, up 50.96% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.11 per share and revenue of $11.61 billion. These totals would mark changes of +119.01% and +35.91%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for OKE. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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, the Zacks Consensus EPS estimate has moved 1.24% lower. OKE currently has a Zacks Rank of #3 (Hold).
Investors should also note OKE's current valuation metrics, including its Forward P/E ratio of 15.91. This valuation marks a discount compared to its industry's average Forward P/E of 16.38.
Meanwhile, OKE's PEG ratio is currently 0.71. 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. Utility - Gas Distribution stocks are, on average, holding a PEG ratio of 2.77 based on yesterday's closing prices.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 33% 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.