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Oneok Inc. (OKE) Stock Moves 0.59%: What You Should Know
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $64.89, moving +0.59% from the previous trading session. The stock traded in line with S&P 500. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Heading into today, shares of the natural gas company had lost 1.41% over the past month, lagging the Oils-Energy sector's gain of 5.29% and outpacing the S&P 500's loss of 2.84% in that time.
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 $1.09 per share, which would represent year-over-year growth of 13.54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.61 billion, down 22.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.59 per share and revenue of $17.67 billion. These totals would mark changes of +45.57% and -21.08%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.78% lower within the past month. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 11.54. Its industry sports an average Forward P/E of 11.95, so we one might conclude that Oneok Inc. is trading at a discount comparatively.
Meanwhile, OKE's PEG ratio is currently 1.75. 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 industry currently had an average PEG ratio of 1.75 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 193, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Oneok Inc. (OKE) Stock Moves 0.59%: What You Should Know
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $64.89, moving +0.59% from the previous trading session. The stock traded in line with S&P 500. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Heading into today, shares of the natural gas company had lost 1.41% over the past month, lagging the Oils-Energy sector's gain of 5.29% and outpacing the S&P 500's loss of 2.84% in that time.
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 $1.09 per share, which would represent year-over-year growth of 13.54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.61 billion, down 22.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.59 per share and revenue of $17.67 billion. These totals would mark changes of +45.57% and -21.08%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.78% lower within the past month. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 11.54. Its industry sports an average Forward P/E of 11.95, so we one might conclude that Oneok Inc. is trading at a discount comparatively.
Meanwhile, OKE's PEG ratio is currently 1.75. 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 industry currently had an average PEG ratio of 1.75 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 193, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.