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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
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In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $60.78, marking a +1.03% move from the previous day. This move outpaced the S&P 500's daily loss of 1.84%. At the same time, the Dow lost 1.38%, and the tech-heavy Nasdaq lost 0.38%.
Prior to today's trading, shares of the natural gas company had gained 0.96% over the past month. This has outpaced the Utilities sector's loss of 3.2% and the S&P 500's loss of 1.96% 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, the Zacks Consensus Estimate for revenue is projecting net sales of $6.49 billion, up 152.49% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Oneok Inc.Recent revisions tend to reflect the latest near-term business trends. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.67% lower. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 16.25. This valuation marks a premium compared to its industry's average Forward P/E of 16.08.
It is also worth noting that OKE currently has a PEG ratio of 2.07. 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. The Utility - Gas Distribution industry currently had an average PEG ratio of 2.99 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains As Market Dips: What You Should Know
In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $60.78, marking a +1.03% move from the previous day. This move outpaced the S&P 500's daily loss of 1.84%. At the same time, the Dow lost 1.38%, and the tech-heavy Nasdaq lost 0.38%.
Prior to today's trading, shares of the natural gas company had gained 0.96% over the past month. This has outpaced the Utilities sector's loss of 3.2% and the S&P 500's loss of 1.96% 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, the Zacks Consensus Estimate for revenue is projecting net sales of $6.49 billion, up 152.49% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Oneok Inc.Recent revisions tend to reflect the latest near-term business trends. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.67% lower. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 16.25. This valuation marks a premium compared to its industry's average Forward P/E of 16.08.
It is also worth noting that OKE currently has a PEG ratio of 2.07. 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. The Utility - Gas Distribution industry currently had an average PEG ratio of 2.99 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.