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Oneok Inc. (OKE) closed the most recent trading day at $100.40, moving -0.38% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.43% for the day. Meanwhile, the Dow experienced a drop of 0.07%, and the technology-dominated Nasdaq saw a decrease of 0.9%.
Heading into today, shares of the natural gas company had lost 8.75% over the past month, lagging the Oils-Energy sector's loss of 8.37% and the S&P 500's loss of 1.98% in that time.
The investment community will be closely monitoring the performance of Oneok Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at $1.46, signifying a 23.73% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $6.67 billion, up 27.47% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.10 per share and a revenue of $21.37 billion, signifying shifts of -6.93% and +20.9%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Oneok Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.39% higher. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Oneok Inc. is currently exchanging hands at a Forward P/E ratio of 19.75. This signifies a premium in comparison to the average Forward P/E of 13.54 for its industry.
We can also see that OKE currently has a PEG ratio of 5.08. 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. OKE's industry had an average PEG ratio of 1.4 as of yesterday's close.