Yahoo Finance Oneok Inc. (OKE) Advances But Underperforms Market: Key Facts
Oneok Inc. (OKE) closed the latest trading day at $79.91, indicating a +0.35% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.87%. Meanwhile, the Dow gained 0.67%, and the Nasdaq, a tech-heavy index, added 1.11%.
Shares of the natural gas company witnessed a gain of 0.76% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 3.26% and outperforming the S&P 500's loss of 3.97%.
Investors will be eagerly watching for the performance of Oneok Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 30, 2024. The company is forecasted to report an EPS of $1.20, showcasing a 48.72% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.86 billion, indicating a 29.53% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.99 per share and revenue of $23.2 billion, indicating changes of -8.94% and +31.23%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Oneok Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Within the past 30 days, our consensus EPS projection has moved 0.12% higher. 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 15.96. For comparison, its industry has an average Forward P/E of 12.63, which means Oneok Inc. is trading at a premium to the group.
Also, we should mention that OKE has a PEG ratio of 4.87. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 4.87 based on yesterday's closing prices.
The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
