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Oneok Inc. (OKE) Gains But Lags Market: What You Should Know
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $64.38, moving +1.16% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.68%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq lost 1.7%.
Coming into today, shares of the natural gas company had lost 8.96% in the past month. In that same time, the Oils-Energy sector lost 8.65%, while the S&P 500 lost 6.68%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. On that day, Oneok Inc. is projected to report earnings of $2.01 per share, which would represent year-over-year growth of 131.03%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.56 billion, up 2.13% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.43 per share and revenue of $22.3 billion. These results would represent year-over-year changes of +41.41% and -0.37%, respectively.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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.
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 11.87% higher. Oneok Inc. currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 11.72. Its industry sports an average Forward P/E of 10.87, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Also, we should mention that OKE has a PEG ratio of 1.34. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OKE's industry had an average PEG ratio of 4.48 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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 But Lags Market: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $64.38, moving +1.16% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.68%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq lost 1.7%.
Coming into today, shares of the natural gas company had lost 8.96% in the past month. In that same time, the Oils-Energy sector lost 8.65%, while the S&P 500 lost 6.68%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. On that day, Oneok Inc. is projected to report earnings of $2.01 per share, which would represent year-over-year growth of 131.03%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.56 billion, up 2.13% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.43 per share and revenue of $22.3 billion. These results would represent year-over-year changes of +41.41% and -0.37%, respectively.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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.
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 11.87% higher. Oneok Inc. currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 11.72. Its industry sports an average Forward P/E of 10.87, so we one might conclude that Oneok Inc. is trading at a premium comparatively.
Also, we should mention that OKE has a PEG ratio of 1.34. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OKE's industry had an average PEG ratio of 4.48 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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.