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Oneok Inc. (OKE) Ascends While Market Falls: Some Facts to Note
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $85.37, moving +0.36% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.39%. On the other hand, the Dow registered a gain of 0.6%, and the technology-centric Nasdaq decreased by 2.77%.
Shares of the natural gas company have appreciated by 6.25% over the course of the past month, outperforming the Oils-Energy sector's loss of 7.9% and the S&P 500's gain of 4.43%.
Investors will be eagerly watching for the performance of Oneok Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 5, 2024. In that report, analysts expect Oneok Inc. to post earnings of $1.16 per share. This would mark year-over-year growth of 11.54%. Simultaneously, our latest consensus estimate expects the revenue to be $5.55 billion, showing a 48.7% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $4.95 per share and a revenue of $22.31 billion, demonstrating changes of -9.67% and +26.22%, respectively, from the preceding year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.1% higher within the past month. Oneok Inc. currently has a Zacks Rank of #2 (Buy).
Looking at valuation, Oneok Inc. is presently trading at a Forward P/E ratio of 17.2. This valuation marks a premium compared to its industry's average Forward P/E of 12.61.
It is also worth noting that OKE currently has a PEG ratio of 4.56. 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. The Oil and Gas - Production Pipeline - MLB industry had an average PEG ratio of 1.38 as trading concluded yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Oneok Inc. (OKE) Ascends While Market Falls: Some Facts to Note
Oneok Inc. (OKE - Free Report) closed the most recent trading day at $85.37, moving +0.36% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.39%. On the other hand, the Dow registered a gain of 0.6%, and the technology-centric Nasdaq decreased by 2.77%.
Shares of the natural gas company have appreciated by 6.25% over the course of the past month, outperforming the Oils-Energy sector's loss of 7.9% and the S&P 500's gain of 4.43%.
Investors will be eagerly watching for the performance of Oneok Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 5, 2024. In that report, analysts expect Oneok Inc. to post earnings of $1.16 per share. This would mark year-over-year growth of 11.54%. Simultaneously, our latest consensus estimate expects the revenue to be $5.55 billion, showing a 48.7% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $4.95 per share and a revenue of $22.31 billion, demonstrating changes of -9.67% and +26.22%, respectively, from the preceding year.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.1% higher within the past month. Oneok Inc. currently has a Zacks Rank of #2 (Buy).
Looking at valuation, Oneok Inc. is presently trading at a Forward P/E ratio of 17.2. This valuation marks a premium compared to its industry's average Forward P/E of 12.61.
It is also worth noting that OKE currently has a PEG ratio of 4.56. 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. The Oil and Gas - Production Pipeline - MLB industry had an average PEG ratio of 1.38 as trading concluded yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.