In the latest trading session, Oneok Inc. (OKE) closed at $97.51, marking a +2.18% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.58%. Meanwhile, the Dow lost 1.18%, and the Nasdaq, a tech-heavy index, lost 0.32%.
The stock of natural gas company has risen by 5.63% in the past month, lagging the Oils-Energy sector's gain of 6.77% and overreaching the S&P 500's loss of 0.36%.
Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.49, indicating constancy compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $11.77 billion, indicating a 36.34% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $5.75 per share and a revenue of $43.77 billion, demonstrating changes of +6.09% and +30.16%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Oneok Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.47% lower within the past month. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 16.59. This expresses a premium compared to the average Forward P/E of 14.59 of its industry.
Meanwhile, OKE's PEG ratio is currently 2.7. 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. OKE's industry had an average PEG ratio of 2.06 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 21% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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ONEOK, Inc. (OKE): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).