Oneok Inc. (OKE) Outpaces Stock Market Gains: What You Should Know

Oneok Inc. (OKE) closed the most recent trading day at $62.40, moving +1.1% from the previous trading session. This change outpaced the S&P 500's 0.12% gain on the day. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.14%.

Wall Street will be looking for positivity from Oneok Inc. as it approaches its next earnings report date. In that report, analysts expect Oneok Inc. to post earnings of $2.07 per share. This would mark year-over-year growth of 125%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.15 billion, down 14.1% from the year-ago period.

OKE's full-year Zacks Consensus Estimates are calling for earnings of $5.48 per share and revenue of $20.97 billion. These results would represent year-over-year changes of +42.71% and -6.34%, respectively.

Investors might also notice recent changes to analyst estimates for Oneok Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. Oneok Inc. currently has a Zacks Rank of #3 (Hold).

Digging into valuation, Oneok Inc. currently has a Forward P/E ratio of 11.27. This represents a discount compared to its industry's average Forward P/E of 12.01.

We can also see that OKE currently has a PEG ratio of 1.8. 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 was holding an average PEG ratio of 1.8 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 217, which puts it in the bottom 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow OKE in the coming trading sessions, be sure to utilize Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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