Oneok Inc. (OKE) Gains But Lags Market: What You Should Know
Oneok Inc. (OKE) closed at $62.50 in the latest trading session, marking a +0.03% move from the prior day.
Oneok Inc. (OKE) closed the most recent trading day at $62.50, moving +0.03% from the previous trading session. This move lagged the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.14%.
Coming into today, shares of the natural gas company had gained 5.24% in the past month. In that same time, the Utilities sector gained 0.67%, while the S&P 500 gained 0.12%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. The company is expected to report EPS of $0.89, up 28.99% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.88 billion, up 167.83% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 16.53. Its industry sports an average Forward P/E of 16.53, so we one might conclude that Oneok Inc. is trading at a no noticeable deviation comparatively.
We can also see that OKE currently has a PEG ratio of 2.11. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Utility - Gas Distribution industry currently had an average PEG ratio of 2.66 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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