In the latest trading session, Oneok Inc. (OKE) closed at $73.10, marking a -1.07% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.26%. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.48%.
Heading into today, shares of the natural gas company had lost 3.26% over the past month, lagging the Oils-Energy sector's gain of 4.06% and the S&P 500's gain of 2.87%.
The upcoming earnings release of Oneok Inc. will be of great interest to investors. The company is expected to report EPS of $1.48, up 25.42% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.31 billion, up 85.4% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.44 per share and a revenue of $35.71 billion, signifying shifts of +5.22% and +64.58%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Oneok Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.7% decrease. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Oneok Inc. is presently being traded at a Forward P/E ratio of 13.58. This valuation marks a premium compared to its industry average Forward P/E of 12.41.
It is also worth noting that OKE currently has a PEG ratio of 1.81. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Oil and Gas - Production Pipeline - MLB industry stood at 1.42 at the close of the market yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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ONEOK, Inc. (OKE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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