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Oneok Inc. (OKE) Advances While Market Declines: Some Information for Investors
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In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $90.24, marking a +1.22% move from the previous day. This change outpaced the S&P 500's 0.13% loss on the day. Elsewhere, the Dow saw an upswing of 0.33%, while the tech-heavy Nasdaq depreciated by 0.39%.
The natural gas company's shares have seen a decrease of 1.11% over the last month, surpassing the Oils-Energy sector's loss of 4.69% and falling behind the S&P 500's gain of 2.43%.
The upcoming earnings release of Oneok Inc. will be of great interest to investors. The company's earnings report is expected on October 29, 2024. It is anticipated that the company will report an EPS of $1.26, marking a 27.27% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.85 billion, reflecting a 39.75% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.09 per share and a revenue of $21.94 billion, signifying shifts of -7.12% and +24.13%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.32% upward. Currently, Oneok Inc. is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Oneok Inc. is at present trading with a Forward P/E ratio of 17.51. This denotes a premium relative to the industry's average Forward P/E of 12.41.
One should further note that OKE currently holds a PEG ratio of 4.41. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.47 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 32, positioning it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Oneok Inc. (OKE) Advances While Market Declines: Some Information for Investors
In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $90.24, marking a +1.22% move from the previous day. This change outpaced the S&P 500's 0.13% loss on the day. Elsewhere, the Dow saw an upswing of 0.33%, while the tech-heavy Nasdaq depreciated by 0.39%.
The natural gas company's shares have seen a decrease of 1.11% over the last month, surpassing the Oils-Energy sector's loss of 4.69% and falling behind the S&P 500's gain of 2.43%.
The upcoming earnings release of Oneok Inc. will be of great interest to investors. The company's earnings report is expected on October 29, 2024. It is anticipated that the company will report an EPS of $1.26, marking a 27.27% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.85 billion, reflecting a 39.75% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.09 per share and a revenue of $21.94 billion, signifying shifts of -7.12% and +24.13%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Oneok Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.32% upward. Currently, Oneok Inc. is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Oneok Inc. is at present trading with a Forward P/E ratio of 17.51. This denotes a premium relative to the industry's average Forward P/E of 12.41.
One should further note that OKE currently holds a PEG ratio of 4.41. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.47 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 32, positioning it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.