Why Oneok Inc. (OKE) Outpaced the Stock Market Today

Oneok Inc. (OKE) ended the recent trading session at $86.56, demonstrating a +1.45% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.25% for the day. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq added 0.47%. Prior to today's trading, shares of the natural gas company had lost 0.92% lagged the Oils-Energy sector's gain of 7.67% and was narrower than the S&P 500's loss of 1.88%.The upcoming earnings release of Oneok Inc. will be of great interest to investors. The company is predicted to post an EPS of $1.31, indicating a 25.96% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.16 billion, up 13.93% from the year-ago period. For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.55 per share and a revenue of $38.15 billion, signifying shifts of +2.4% and +13.46%, respectively, from the last year. Investors should also take note of any recent adjustments to analyst estimates for Oneok Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.57% lower. Oneok Inc. is currently sporting a Zacks Rank of #3 (Hold). With respect to valuation, Oneok Inc. is currently being traded at a Forward P/E ratio of 15.37. For comparison, its industry has an average Forward P/E of 13.2, which means Oneok Inc. is trading at a premium to the group. Also, we should mention that OKE has a PEG ratio of 6.43. 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 1.5 at yesterday's closing price. The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 18% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.See Our Newest 5 Stocks Set to Double Picks >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks