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Oneok Inc. (OKE) Stock Falls Amid Market Uptick: What Investors Need to Know

In the latest trading session, Oneok Inc. (OKE) closed at $79.64, marking a -0.47% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.27%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq gained 0.88%.

Coming into today, shares of the natural gas company had lost 0.72% in the past month. In that same time, the Oils-Energy sector lost 3.25%, while the S&P 500 gained 2.85%.

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 $5.72 billion, showing a 53.17% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $4.94 per share and revenue of $23.36 billion, which would represent changes of -9.85% and +32.13%, respectively, from the prior year.

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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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

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 0.05% lower within the past month. Oneok Inc. is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 16.2. For comparison, its industry has an average Forward P/E of 12.04, which means Oneok Inc. is trading at a premium to the group.

We can additionally observe that OKE currently boasts a PEG ratio of 4.29. 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. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.33 at yesterday's closing price.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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

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