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Oneok Inc. (OKE) Stock Moves -0.52%: What You Should Know
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $58.81, moving -0.52% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.67%. Meanwhile, the Dow lost 1.23%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Prior to today's trading, shares of the natural gas company had gained 4.18% over the past month. This has lagged the Oils-Energy sector's gain of 6.33% and the S&P 500's gain of 7.79% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be August 8, 2022. In that report, analysts expect Oneok Inc. to post earnings of $0.86 per share. This would mark year-over-year growth of 11.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.37 billion, up 87.87% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.73 per share and revenue of $24.98 billion, which would represent changes of +11.34% and +51.03%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 3.97% lower within the past month. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 15.85 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.24.
We can also see that OKE currently has a PEG ratio of 2.1. 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 2.1 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 32, which puts it in the top 13% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Oneok Inc. (OKE) Stock Moves -0.52%: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $58.81, moving -0.52% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.67%. Meanwhile, the Dow lost 1.23%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Prior to today's trading, shares of the natural gas company had gained 4.18% over the past month. This has lagged the Oils-Energy sector's gain of 6.33% and the S&P 500's gain of 7.79% in that time.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be August 8, 2022. In that report, analysts expect Oneok Inc. to post earnings of $0.86 per share. This would mark year-over-year growth of 11.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.37 billion, up 87.87% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.73 per share and revenue of $24.98 billion, which would represent changes of +11.34% and +51.03%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 3.97% lower within the past month. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 15.85 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.24.
We can also see that OKE currently has a PEG ratio of 2.1. 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 2.1 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 32, which puts it in the top 13% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.