Keeping Pace in a Turbulent Market
Oneok Inc. (OKE) concluded its most recent trading session at $78.67, marking a -0.82% decline from the previous day. This downturn places it behind the S&P 500, which experienced a 0.28% dip. The Dow Jones also saw a minor decline of 0.08%, while the tech-heavy Nasdaq dropped by 0.42%.
Steady Growth in a Volatile Sector
Despite this setback, Oneok Inc. remains resilient, having gained 8.79% in the last month. This surge outpaced the Oils-Energy sector’s 6.42% increase and the S&P 500’s 2.67% growth over the same period.
Insights into Earnings and Estimates
Investors are eagerly awaiting Oneok Inc.’s upcoming earnings report, with an anticipated EPS of $1.06 (reflecting a 54.7% decline) and projected revenue of $5.62 billion (a 24.21% increase). Full-year estimates anticipate earnings of $4.60 per share and revenue of $22.51 billion, signaling changes of -16.06% and +27.31%, respectively, from the prior year.
Analyst Outlook and Market Trends
Recent adjustments in analyst estimates for Oneok Inc. hint at shifting business trends. Positive estimate revisions often indicate a favorable business outlook, influencing short-term stock price momentum significantly.
Valuation and Industry Position
Trading at a Forward P/E ratio of 17.26, Oneok Inc. displays a premium compared to the industry average of 12.79. The company’s PEG ratio of 2.48, aligned with the industry average, underscores its position in the Oil and Gas – Production Pipeline – MLB sector.
Despite a lower-ranking Zacks Industry Rank of 162 (placing it in the bottom 36% of industries), the sector remains a key player within the Oils-Energy space.
Looking Ahead
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To access free stock analysis for ONEOK, Inc. (OKE), visit the Zacks Investment Research report here.
Please note that the opinions presented in this article are of the author alone and may not necessarily align with those of Nasdaq, Inc.
