Oneok Inc. (OKE) Stock Moves -0.01%: What You Should Know

Oneok Inc. (OKE) closed the most recent trading day at $101.61, moving -0.01% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 1.89%.Shares of the natural gas company have depreciated by 3.33% over the course of the past month, outperforming the Oils-Energy sector's loss of 11.62% and lagging the S&P 500's loss of 1.7%.Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.46, signifying a 23.73% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $6.67 billion, reflecting a 27.47% rise from the equivalent quarter last year.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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Oneok Inc. possesses a Zacks Rank of #3 (Hold).In the context of valuation, Oneok Inc. is at present trading with a Forward P/E ratio of 16.9. Its industry sports an average Forward P/E of 13.31, so one might conclude that Oneok Inc. is trading at a premium comparatively.We can additionally observe that OKE currently boasts a PEG ratio of 4.34. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Production Pipeline - MLB industry held an average PEG ratio of 1.44.The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 26, placing it within the top 11% of over 250 industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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