Yahoo Finance Oneok Inc. (OKE) Outpaces Stock Market Gains: What You Should Know
Oneok Inc. (OKE) closed the most recent trading day at $68.48, moving +1.78% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.46%. Meanwhile, the Dow gained 1.09%, and the Nasdaq, a tech-heavy index, added 6.63%.
Coming into today, shares of the natural gas company had gained 2.4% in the past month. In that same time, the Oils-Energy sector gained 1.9%, while the S&P 500 gained 4.75%.
Investors will be hoping for strength from Oneok Inc. as it approaches its next earnings release, which is expected to be February 27, 2023. On that day, Oneok Inc. is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 22.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.61 billion, up 3.46% from the year-ago period.
Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 0.39% higher within the past month. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 14.91. This valuation marks a premium compared to its industry's average Forward P/E of 10.51.
Meanwhile, OKE's PEG ratio is currently 1.71. 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 Oil and Gas - Production Pipeline - MLB industry currently had an average PEG ratio of 1.9 as of yesterday's close.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
