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Oneok Inc. (OKE) Stock Sinks As Market Gains: Here's Why September 10, 2024
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Oneok Inc. (OKE - Free Report) closed the most recent trading day at $91.72, moving -0.35% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.45%. Meanwhile, the Dow experienced a drop of 0.23%, and the technology-dominated Nasdaq saw an increase of 0.84%.
Shares of the natural gas company have appreciated by 8.05% over the course of the past month, outperforming the Oils-Energy sector's loss of 2.65% and the S&P 500's gain of 2.54%.
The upcoming earnings release of Oneok Inc. will be of great interest to investors. The company is forecasted to report an EPS of $1.26, showcasing a 27.27% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $5.85 billion, up 39.64% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.07 per share and a revenue of $21.91 billion, indicating changes of -7.48% and +23.96%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Oneok Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.6% increase. Right now, Oneok Inc. possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 18.14. This represents a premium compared to its industry's average Forward P/E of 12.03.
We can also see that OKE currently has a PEG ratio of 4.56. 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 currently had an average PEG ratio of 1.47 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 62, which puts it in the top 25% 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 - Free Report) closed the most recent trading day at $91.72, moving -0.35% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.45%. Meanwhile, the Dow experienced a drop of 0.23%, and the technology-dominated Nasdaq saw an increase of 0.84%.
Shares of the natural gas company have appreciated by 8.05% over the course of the past month, outperforming the Oils-Energy sector's loss of 2.65% and the S&P 500's gain of 2.54%.
The upcoming earnings release of Oneok Inc. will be of great interest to investors. The company is forecasted to report an EPS of $1.26, showcasing a 27.27% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $5.85 billion, up 39.64% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.07 per share and a revenue of $21.91 billion, indicating changes of -7.48% and +23.96%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Oneok Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.6% increase. Right now, Oneok Inc. possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 18.14. This represents a premium compared to its industry's average Forward P/E of 12.03.
We can also see that OKE currently has a PEG ratio of 4.56. 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 currently had an average PEG ratio of 1.47 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 62, which puts it in the top 25% 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.