Oneok Inc. (OKE) Stock Moves -0.2%: What You Should Know

The latest trading session saw Oneok Inc. (OKE) ending at $98.48, denoting a -0.2% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 1.97%. At the same time, the Dow lost 1.69%, and the tech-heavy Nasdaq lost 2.7%.The natural gas company's shares have seen an increase of 2.11% over the last month, not keeping up with the Oils-Energy sector's gain of 3.54% and outstripping the S&P 500's loss of 2.79%.Market participants will be closely following the financial results of Oneok Inc. in its upcoming release. It is anticipated that the company will report an EPS of $1.28, marking a 17.43% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $7.59 billion, indicating a 58.68% upward movement from the same quarter last year.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.42 per share and a revenue of $30.43 billion, representing changes of +4.84% and +40.25%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.61% downward. Oneok Inc. is currently a Zacks Rank #3 (Hold).Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 18.22. This denotes a premium relative to the industry's average Forward P/E of 13.31.Also, we should mention that OKE has a PEG ratio of 4.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Production Pipeline - MLB was holding an average PEG ratio of 1.17 at yesterday's closing price.The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 18, positioning it in the top 8% of all 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.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks