We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ONEOK (OKE) to Report Q3 Earnings: What's in the Offing?
Read MoreHide Full Article
ONEOK Inc. (OKE - Free Report) is set to report third-quarter earnings on Nov 1, after market close. This oil and gas midstream company delivered an earnings surprise of 9.52% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors at Play
ONEOK’s third-quarter earnings are likely to have benefited from the contributions of recently completed projects in high production regions. High fee-based contracts with the company are also likely to have boosted earnings in the third quarter.
ONEOK’s third-quarter earnings are likely to have benefited from the rising Natural Gas Liquids’ (NGL) raw feed through volumes in the pipelines compared with the prior-year period. The firm’s third-quarter earnings are likely to be driven by higher Rocky Mountain region production volumes.
Expectations
The Zacks Consensus Estimate for third-quarter earnings per share and total revenues are pegged at 93 cents and $6.52 billion, which implies year-over-year growth of 5.7% and 43.7%, respectively.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for ONEOK this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below.
Earnings ESP: ONEOK has an Earnings ESP of +1.62%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Investors can consider the following players from the same sector that also have the right combination of elements to beat on earnings in this reporting cycle.
Chesapeake Energy Corporation (CHK - Free Report) is scheduled to release third-quarter 2022 numbers on Nov 1. CHK has an Earnings ESP of +0.42% and currently carries a Zacks Rank of 2.
Chesapeake Energy’s long-term (three to five years) earnings growth rate is 6.27%. The Zacks Consensus Estimate for Chesapeake’s third-quarter 2022 earnings implies year-over-year growth of 88.2%.
Murphy Oil Corporation (MUR - Free Report) is scheduled to release third-quarter 2022 numbers on Nov 3. MUR has an Earnings ESP of +0.79% and a Zacks Rank of 3.
The Zacks Consensus Estimate for third-quarter 2022 earnings of Murphy Oil implies year-over-year growth of 550%.
Diamondback Energy (FANG - Free Report) is scheduled to release third-quarter 2022 numbers on Nov 8. FANG has an Earnings ESP of +0.63% and currently carries a Zacks Rank of 3.
FANG’s long-term earnings growth is 21.9%. The Zacks Consensus Estimate for third-quarter 2022 earnings of Diamondback Energy implies year-over-year growth of 118.1%.
Image: Bigstock
ONEOK (OKE) to Report Q3 Earnings: What's in the Offing?
ONEOK Inc. (OKE - Free Report) is set to report third-quarter earnings on Nov 1, after market close. This oil and gas midstream company delivered an earnings surprise of 9.52% in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors at Play
ONEOK’s third-quarter earnings are likely to have benefited from the contributions of recently completed projects in high production regions. High fee-based contracts with the company are also likely to have boosted earnings in the third quarter.
ONEOK’s third-quarter earnings are likely to have benefited from the rising Natural Gas Liquids’ (NGL) raw feed through volumes in the pipelines compared with the prior-year period. The firm’s third-quarter earnings are likely to be driven by higher Rocky Mountain region production volumes.
Expectations
The Zacks Consensus Estimate for third-quarter earnings per share and total revenues are pegged at 93 cents and $6.52 billion, which implies year-over-year growth of 5.7% and 43.7%, respectively.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for ONEOK this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below.
ONEOK, Inc. Price and EPS Surprise
ONEOK, Inc. price-eps-surprise | ONEOK, Inc. Quote
Earnings ESP: ONEOK has an Earnings ESP of +1.62%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ONEOK currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same sector that also have the right combination of elements to beat on earnings in this reporting cycle.
Chesapeake Energy Corporation (CHK - Free Report) is scheduled to release third-quarter 2022 numbers on Nov 1. CHK has an Earnings ESP of +0.42% and currently carries a Zacks Rank of 2.
Chesapeake Energy’s long-term (three to five years) earnings growth rate is 6.27%. The Zacks Consensus Estimate for Chesapeake’s third-quarter 2022 earnings implies year-over-year growth of 88.2%.
Murphy Oil Corporation (MUR - Free Report) is scheduled to release third-quarter 2022 numbers on Nov 3. MUR has an Earnings ESP of +0.79% and a Zacks Rank of 3.
The Zacks Consensus Estimate for third-quarter 2022 earnings of Murphy Oil implies year-over-year growth of 550%.
Diamondback Energy (FANG - Free Report) is scheduled to release third-quarter 2022 numbers on Nov 8. FANG has an Earnings ESP of +0.63% and currently carries a Zacks Rank of 3.
FANG’s long-term earnings growth is 21.9%. The Zacks Consensus Estimate for third-quarter 2022 earnings of Diamondback Energy implies year-over-year growth of 118.1%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.