Oneok Inc. (OKE) closed the most recent trading day at $67, moving +1.03% from the previous trading session. This change outpaced the S&P 500’s 0.12% gain on the day. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.29%.
Prior to today’s trading, shares of the natural gas company had gained 1.36% over the past month. This has lagged the Oils-Energy sector’s gain of 3.12% and outpaced the S&P 500’s gain of 0.09% in that time.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. On that day, Oneok Inc. is projected to report earnings of $1.09 per share, which would represent year-over-year growth of 13.54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.61 billion, down 22.01% from the year-ago period.
OKE’s full-year Zacks Consensus Estimates are calling for earnings of $5.63 per share and revenue of $17.67 billion. These results would represent year-over-year changes of +46.61% and -21.08%, respectively.
It is also important to note the recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has moved 1.27% lower. Oneok Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 11.77. This valuation marks a discount compared to its industry’s average Forward P/E of 12.36.
It is also worth noting that OKE currently has a PEG ratio of 1.79. 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 currently had an average PEG ratio of 1.79 as of yesterday’s close.
The Oil and Gas – Production Pipeline – MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
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