Oneok Inc. (OKE) Exceeds Market Returns: Some Facts to Consider

Oneok Inc. (OKE) closed at $106.04 in the latest trading session, marking a +1.98% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq lost 0.23%.The natural gas company's stock has climbed by 1.1% in the past month, exceeding the Oils-Energy sector's loss of 8.42% and the S&P 500's loss of 3.45%.The investment community will be paying close attention to the earnings performance of Oneok Inc. in its upcoming release. On that day, Oneok Inc. is projected to report earnings of $1.46 per share, which would represent year-over-year growth of 23.73%. Simultaneously, our latest consensus estimate expects the revenue to be $6.67 billion, showing a 27.47% escalation compared to the year-ago quarter.Investors should also take note of any recent adjustments to analyst estimates for Oneok Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Oneok Inc. currently has a Zacks Rank of #2 (Buy).From a valuation perspective, Oneok Inc. is currently exchanging hands at a Forward P/E ratio of 17.29. This expresses a premium compared to the average Forward P/E of 13.64 of its industry.We can additionally observe that OKE currently boasts a PEG ratio of 4.44. 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. The Oil and Gas - Production Pipeline - MLB industry had an average PEG ratio of 1.44 as trading concluded yesterday.The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 27, this industry ranks in the top 11% of all industries, numbering over 250.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ONEOK, Inc. (OKE): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks