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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
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Oneok Inc. (OKE - Free Report) closed at $82.79 in the latest trading session, marking a +0.72% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.5% for the day. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
Shares of the natural gas company have appreciated by 0.59% over the course of the past month, outperforming the Oils-Energy sector's loss of 10.92% and the S&P 500's gain of 0.1%.
The investment community will be closely monitoring the performance of Oneok Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on August 5, 2024. It is anticipated that the company will report an EPS of $1.18, marking a 13.46% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.52 billion, reflecting a 47.91% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.06 per share and a revenue of $22.35 billion, indicating changes of -7.66% and +26.41%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.33% higher. Currently, Oneok Inc. is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Oneok Inc. is presently being traded at a Forward P/E ratio of 16.25. This represents a premium compared to its industry's average Forward P/E of 12.51.
Also, we should mention that OKE has a PEG ratio of 4.34. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Oil and Gas - Production Pipeline - MLB industry was having an average PEG ratio of 1.39.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Oneok Inc. (OKE) Gains As Market Dips: What You Should Know
Oneok Inc. (OKE - Free Report) closed at $82.79 in the latest trading session, marking a +0.72% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.5% for the day. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
Shares of the natural gas company have appreciated by 0.59% over the course of the past month, outperforming the Oils-Energy sector's loss of 10.92% and the S&P 500's gain of 0.1%.
The investment community will be closely monitoring the performance of Oneok Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on August 5, 2024. It is anticipated that the company will report an EPS of $1.18, marking a 13.46% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.52 billion, reflecting a 47.91% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.06 per share and a revenue of $22.35 billion, indicating changes of -7.66% and +26.41%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.33% higher. Currently, Oneok Inc. is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, Oneok Inc. is presently being traded at a Forward P/E ratio of 16.25. This represents a premium compared to its industry's average Forward P/E of 12.51.
Also, we should mention that OKE has a PEG ratio of 4.34. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Oil and Gas - Production Pipeline - MLB industry was having an average PEG ratio of 1.39.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.