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Oneok Inc. (OKE) Gains But Lags Market: What You Should Know

In the latest trading session, Oneok Inc. (OKE) closed at $61.02, marking a +0.23% move from the previous day. This move lagged the S&P 500's daily gain of 1.76%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 3.03%.

Heading into today, shares of the natural gas company had lost 12.62% over the past month, lagging the Oils-Energy sector's loss of 12.2% and the S&P 500's loss of 5.94% in that time.

Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. On that day, Oneok Inc. is projected to report earnings of $2.01 per share, which would represent year-over-year growth of 131.03%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.56 billion, up 2.13% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.43 per share and revenue of $22.3 billion, which would represent changes of +41.41% and -0.37%, respectively, from the prior year.

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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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 11.87% higher within the past month. Oneok Inc. is holding a Zacks Rank of #2 (Buy) right now.

Investors should also note Oneok Inc.'s current valuation metrics, including its Forward P/E ratio of 11.21. This represents a premium compared to its industry's average Forward P/E of 10.57.

We can also see that OKE currently has a PEG ratio of 1.28. 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. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 4.41 at yesterday's closing price.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% 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.

To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.

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ONEOK, Inc. (OKE) : Free Stock Analysis Report

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