In the latest close session, Oneok Inc. (OKE) was down 1.51% at $89.20. This move lagged the S&P 500's daily gain of 1.75%. Meanwhile, the Dow experienced a rise of 1.86%, and the technology-dominated Nasdaq saw an increase of 2.54%.
The stock of natural gas company has risen by 2% in the past month, leading the Oils-Energy sector's loss of 0.13% and the S&P 500's loss of 1.63%.
The upcoming earnings release of Oneok Inc. will be of great interest to investors. The company is forecasted to report an EPS of $1.43, showcasing a 6.72% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $10.81 billion, indicating a 37.11% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.5 per share and a revenue of $46.96 billion, indicating changes of +1.48% and +39.64%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection has moved 1.69% lower. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Oneok Inc. has a Forward P/E ratio of 16.46 right now. For comparison, its industry has an average Forward P/E of 13.6, which means Oneok Inc. is trading at a premium to the group.
One should further note that OKE currently holds a PEG ratio of 7.04. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Production Pipeline - MLB industry had an average PEG ratio of 1.35 as trading concluded yesterday.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 172, this industry ranks in the bottom 30% of all industries, numbering over 250.
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): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).