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Oneok Inc. (OKE) Rises Higher Than Market: Key Facts
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Oneok Inc. (OKE - Free Report) closed at $94.66 in the latest trading session, marking a +1.05% move from the prior day. This change outpaced the S&P 500's 0.03% gain on the day. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the natural gas company had gained 5.97% over the past month. This has outpaced the Oils-Energy sector's loss of 3.35% and the S&P 500's gain of 1.54% in that time.
Investors will be eagerly watching for the performance of Oneok Inc. in its upcoming earnings disclosure. In that report, analysts expect Oneok Inc. to post earnings of $1.26 per share. This would mark year-over-year growth of 27.27%. Meanwhile, our latest consensus estimate is calling for revenue of $5.85 billion, up 39.64% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.07 per share and revenue of $22.19 billion, indicating changes of -7.48% and +25.51%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.91% higher within the past month. Oneok Inc. presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 18.46. For comparison, its industry has an average Forward P/E of 12.76, which means Oneok Inc. is trading at a premium to the group.
We can also see that OKE currently has a PEG ratio of 4.64. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.52 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 29, this industry ranks in the top 12% of all industries, numbering over 250.
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.
To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.
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Oneok Inc. (OKE) Rises Higher Than Market: Key Facts
Oneok Inc. (OKE - Free Report) closed at $94.66 in the latest trading session, marking a +1.05% move from the prior day. This change outpaced the S&P 500's 0.03% gain on the day. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the natural gas company had gained 5.97% over the past month. This has outpaced the Oils-Energy sector's loss of 3.35% and the S&P 500's gain of 1.54% in that time.
Investors will be eagerly watching for the performance of Oneok Inc. in its upcoming earnings disclosure. In that report, analysts expect Oneok Inc. to post earnings of $1.26 per share. This would mark year-over-year growth of 27.27%. Meanwhile, our latest consensus estimate is calling for revenue of $5.85 billion, up 39.64% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.07 per share and revenue of $22.19 billion, indicating changes of -7.48% and +25.51%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.91% higher within the past month. Oneok Inc. presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 18.46. For comparison, its industry has an average Forward P/E of 12.76, which means Oneok Inc. is trading at a premium to the group.
We can also see that OKE currently has a PEG ratio of 4.64. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.52 at yesterday's closing price.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 29, this industry ranks in the top 12% of all industries, numbering over 250.
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.
To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.