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Oneok Inc. (OKE) closed the most recent trading day at $101.61, moving -0.01% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 1.89%.
Shares of the natural gas company have depreciated by 3.33% over the course of the past month, outperforming the Oils-Energy sector's loss of 11.62% and lagging the S&P 500's loss of 1.7%.
Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.46, signifying a 23.73% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $6.67 billion, reflecting a 27.47% rise from the equivalent quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Oneok Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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 remained stagnant. Right now, Oneok Inc. possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Oneok Inc. is at present trading with a Forward P/E ratio of 16.9. Its industry sports an average Forward P/E of 13.31, so one might conclude that Oneok Inc. is trading at a premium comparatively.
We can additionally observe that OKE currently boasts a PEG ratio of 4.34. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Production Pipeline - MLB industry held an average PEG ratio of 1.44.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 26, placing it within the top 11% of over 250 industries.