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Oneok Inc. (OKE) Falls More Steeply Than Broader Market: What Investors Need to Know
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The latest trading session saw Oneok Inc. (OKE - Free Report) ending at $91.32, denoting a -1% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.16%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.3%.
Prior to today's trading, shares of the natural gas company had gained 12.05% over the past month. This has outpaced the Oils-Energy sector's gain of 0.93% and the S&P 500's gain of 3.64% in that time.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. The company's upcoming EPS is projected at $1.25, signifying a 26.26% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.85 billion, indicating a 39.64% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.05 per share and revenue of $21.91 billion. These totals would mark changes of -7.85% and +23.96%, respectively, from last year.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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.
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 shifted 0.54% upward. Currently, Oneok Inc. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 18.28. For comparison, its industry has an average Forward P/E of 12.45, which means Oneok Inc. is trading at a premium to the group.
One should further note that OKE currently holds a PEG ratio of 3.66. 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 1.49 as trading concluded 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 32, placing it within the top 13% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Falls More Steeply Than Broader Market: What Investors Need to Know
The latest trading session saw Oneok Inc. (OKE - Free Report) ending at $91.32, denoting a -1% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.16%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.3%.
Prior to today's trading, shares of the natural gas company had gained 12.05% over the past month. This has outpaced the Oils-Energy sector's gain of 0.93% and the S&P 500's gain of 3.64% in that time.
The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. The company's upcoming EPS is projected at $1.25, signifying a 26.26% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $5.85 billion, indicating a 39.64% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.05 per share and revenue of $21.91 billion. These totals would mark changes of -7.85% and +23.96%, respectively, from last year.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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.
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 shifted 0.54% upward. Currently, Oneok Inc. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 18.28. For comparison, its industry has an average Forward P/E of 12.45, which means Oneok Inc. is trading at a premium to the group.
One should further note that OKE currently holds a PEG ratio of 3.66. 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 1.49 as trading concluded 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 32, placing it within the top 13% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.