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Oneok Inc. (OKE) Stock Moves -1.29%: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $82.16 in the latest trading session, marking a -1.29% move from the prior day. This change was narrower than the S&P 500's 2.32% loss on the day. Meanwhile, the Dow lost 1.25%, and the Nasdaq, a tech-heavy index, lost 3.64%.
Heading into today, shares of the natural gas company had gained 2.73% over the past month, outpacing the Oils-Energy sector's loss of 8.99% and the S&P 500's gain of 1.79% in that time.
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. The company's earnings per share (EPS) are projected to be $1.18, reflecting a 13.46% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.52 billion, up 47.91% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.01 per share and revenue of $22.35 billion. These results would represent year-over-year changes of -8.58% and +26.41%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.37% higher. Oneok Inc. currently has a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Oneok Inc. is at present trading with a Forward P/E ratio of 16.62. For comparison, its industry has an average Forward P/E of 12.44, which means Oneok Inc. is trading at a premium to the group.
Investors should also note that OKE has a PEG ratio of 4.4 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Production Pipeline - MLB industry stood at 1.4 at the close of the market yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 10, placing it within the top 4% of over 250 industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Oneok Inc. (OKE) Stock Moves -1.29%: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $82.16 in the latest trading session, marking a -1.29% move from the prior day. This change was narrower than the S&P 500's 2.32% loss on the day. Meanwhile, the Dow lost 1.25%, and the Nasdaq, a tech-heavy index, lost 3.64%.
Heading into today, shares of the natural gas company had gained 2.73% over the past month, outpacing the Oils-Energy sector's loss of 8.99% and the S&P 500's gain of 1.79% in that time.
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. The company's earnings per share (EPS) are projected to be $1.18, reflecting a 13.46% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.52 billion, up 47.91% from the year-ago period.
OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.01 per share and revenue of $22.35 billion. These results would represent year-over-year changes of -8.58% and +26.41%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.37% higher. Oneok Inc. currently has a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Oneok Inc. is at present trading with a Forward P/E ratio of 16.62. For comparison, its industry has an average Forward P/E of 12.44, which means Oneok Inc. is trading at a premium to the group.
Investors should also note that OKE has a PEG ratio of 4.4 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Production Pipeline - MLB industry stood at 1.4 at the close of the market yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 10, placing it within the top 4% of over 250 industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.