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Oneok Inc. (OKE) Laps the Stock Market: Here's Why

Oneok Inc. (OKE) closed the most recent trading day at $79.05, moving +1.22% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.77%. At the same time, the Dow added 0.49%, and the tech-heavy Nasdaq gained 0.95%.

The the stock of natural gas company has fallen by 5.48% in the past month, leading the Oils-Energy sector's loss of 7.24% and undershooting the S&P 500's gain of 3.71%.

The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. In that report, analysts expect Oneok Inc. to post earnings of $1.13 per share. This would mark year-over-year growth of 8.65%. Simultaneously, our latest consensus estimate expects the revenue to be $5.55 billion, showing a 48.7% escalation compared to the year-ago quarter.

OKE's full-year Zacks Consensus Estimates are calling for earnings of $4.94 per share and revenue of $22.31 billion. These results would represent year-over-year changes of -9.85% and +26.22%, respectively.

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Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Oneok Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% downward. Right now, Oneok Inc. possesses a Zacks Rank of #3 (Hold).

From a valuation perspective, Oneok Inc. is currently exchanging hands at a Forward P/E ratio of 15.81. This denotes a premium relative to the industry's average Forward P/E of 12.18.

It is also worth noting that OKE currently has a PEG ratio of 4.19. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Oil and Gas - Production Pipeline - MLB industry was having an average PEG ratio of 1.32.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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

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Zacks Investment Research