Oneok Inc. (OKE) ended the recent trading session at $93.50, demonstrating a +0.57% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.91%. Elsewhere, the Dow saw a downswing of 1.5%, while the tech-heavy Nasdaq depreciated by 1.96%.

Prior to today's trading, shares of the natural gas company had lost 4.76% over the past month. This has lagged the Oils-Energy sector's loss of 4.23% and was narrower than the S&P 500's loss of 7.38% in that time.

The upcoming earnings release of Oneok Inc. will be of great interest to investors. The company is expected to report EPS of $1.33, up 22.02% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $7.35 billion, indicating a 53.81% growth compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.50 per share and a revenue of $28.34 billion, indicating changes of +6.38% and +30.63%, respectively, from the former year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Oneok Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.91% lower. At present, Oneok Inc. boasts 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. This denotes a premium relative to the industry's average Forward P/E of 12.62.

Investors should also note that OKE has a PEG ratio of 3.85 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. OKE's industry had an average PEG ratio of 1.12 as of yesterday's close.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 9, finds itself in the top 4% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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ONEOK, Inc. (OKE) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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