Oneok Inc. (OKE) closed at $60.64 in the latest trading session, marking a -1.24% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.94%. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq lost 0.39%.
Coming into today, shares of the natural gas company had lost 2.04% in the past month. In that same time, the Utilities sector gained 5.18%, while the S&P 500 gained 5.72%.
Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. In that report, analysts expect Oneok Inc. to post earnings of $0.89 per share. This would mark year-over-year growth of 28.99%. Our most recent consensus estimate is calling for quarterly revenue of $6.88 billion, up 167.83% from the year-ago period.
It is also important to note the recent changes to analyst estimates 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Oneok Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Oneok Inc. is holding a Forward P/E ratio of 16.24. Its industry sports an average Forward P/E of 16.24, so we one might conclude that Oneok Inc. is trading at a no noticeable deviation comparatively.
Also, we should mention that OKE has a PEG ratio of 2.07. 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. OKE's industry had an average PEG ratio of 2.76 as of yesterday's close.
The Utility - Gas Distribution industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 222, which puts it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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