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Oneok Inc. (OKE) Stock Moves -0.94%: What You Should Know
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $68.49, moving -0.94% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.08%. Meanwhile, the Dow lost 0.81%, and the Nasdaq, a tech-heavy index, added 0.22%.
Coming into today, shares of the natural gas company had gained 10.66% in the past month. In that same time, the Oils-Energy sector gained 10.73%, while the S&P 500 gained 1.03%.
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 $0.94 per share, which would represent year-over-year growth of 22.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.09 billion, up 79.61% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.88 per share and revenue of $23.93 billion, which would represent changes of +15.82% and +44.69%, respectively, from the prior year.
Investors might also notice 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.
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.
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 0.52% higher. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 17.8. Its industry sports an average Forward P/E of 12.2, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Meanwhile, OKE's PEG ratio is currently 2.25. 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 Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 3.56 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Oneok Inc. (OKE) Stock Moves -0.94%: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $68.49, moving -0.94% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.08%. Meanwhile, the Dow lost 0.81%, and the Nasdaq, a tech-heavy index, added 0.22%.
Coming into today, shares of the natural gas company had gained 10.66% in the past month. In that same time, the Oils-Energy sector gained 10.73%, while the S&P 500 gained 1.03%.
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 $0.94 per share, which would represent year-over-year growth of 22.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.09 billion, up 79.61% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.88 per share and revenue of $23.93 billion, which would represent changes of +15.82% and +44.69%, respectively, from the prior year.
Investors might also notice 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.
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.
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 0.52% higher. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 17.8. Its industry sports an average Forward P/E of 12.2, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Meanwhile, OKE's PEG ratio is currently 2.25. 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 Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 3.56 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.