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Oneok Inc. (OKE) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $61.87, marking a +1.96% move from the previous day. This move outpaced the S&P 500's daily gain of 0.69%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq added 0.28%.
Prior to today's trading, shares of the natural gas company had gained 1.15% over the past month. This has outpaced the Utilities sector's loss of 2.13% and the S&P 500's loss of 5.29% in that time.
Oneok Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 28, 2022. On that day, Oneok Inc. is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 27.54%. Meanwhile, our latest consensus estimate is calling for revenue of $6.49 billion, up 152.49% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 2.38% lower within the past month. Oneok Inc. is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 16.44. Its industry sports an average Forward P/E of 16.39, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
We can also see that OKE currently has a PEG ratio of 2.09. 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. OKE's industry had an average PEG ratio of 2.76 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 89, putting it in the top 35% 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.
To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.
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Oneok Inc. (OKE) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $61.87, marking a +1.96% move from the previous day. This move outpaced the S&P 500's daily gain of 0.69%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq added 0.28%.
Prior to today's trading, shares of the natural gas company had gained 1.15% over the past month. This has outpaced the Utilities sector's loss of 2.13% and the S&P 500's loss of 5.29% in that time.
Oneok Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 28, 2022. On that day, Oneok Inc. is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 27.54%. Meanwhile, our latest consensus estimate is calling for revenue of $6.49 billion, up 152.49% from the prior-year quarter.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 2.38% lower within the past month. Oneok Inc. is currently sporting a Zacks Rank of #4 (Sell).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 16.44. Its industry sports an average Forward P/E of 16.39, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
We can also see that OKE currently has a PEG ratio of 2.09. 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. OKE's industry had an average PEG ratio of 2.76 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This group has a Zacks Industry Rank of 89, putting it in the top 35% 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.
To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.