Oneok Inc. (OKE) ended the recent trading session at $89.57, demonstrating a -0.19% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.55%. On the other hand, the Dow registered a gain of 0.52%, and the technology-centric Nasdaq increased by 0.7%.

Heading into today, shares of the natural gas company had lost 6.35% over the past month, lagging the Oils-Energy sector's loss of 6.33% and the S&P 500's loss of 5.56% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Oneok Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.33, signifying a 22.02% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.35 billion, up 53.81% from the year-ago period.

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.

Investors should also pay attention to any latest changes in analyst estimates for Oneok Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 10.9% downward. Right now, Oneok Inc. possesses a Zacks Rank of #3 (Hold).

In terms of valuation, Oneok Inc. is presently being traded at a Forward P/E ratio of 16.31. This denotes a premium relative to the industry's average Forward P/E of 12.14.

We can additionally observe that OKE currently boasts a PEG ratio of 3.72. 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. By the end of yesterday's trading, the Oil and Gas - Production Pipeline - MLB industry had an average PEG ratio of 1.12.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 5, positioning it in the top 2% 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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 Report

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

Zacks Investment Research