Oneok Inc. (OKE) ended the recent trading session at $95.23, demonstrating a +0.55% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.9%. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 1.22%.

The the stock of natural gas company has risen by 3.16% in the past month, lagging the Oils-Energy sector's gain of 5.22% and overreaching the S&P 500's gain of 3.15%.

Market participants will be closely following the financial results of Oneok Inc. in its upcoming release. The company plans to announce its earnings on October 29, 2024. The company is expected to report EPS of $1.26, up 27.27% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.85 billion, up 39.75% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $5.09 per share and a revenue of $21.94 billion, demonstrating changes of -7.12% and +24.13%, respectively, from the preceding year.

Any recent changes to analyst estimates for Oneok Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. At present, Oneok Inc. boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 18.61. Its industry sports an average Forward P/E of 12.95, so one might conclude that Oneok Inc. is trading at a premium comparatively.

We can additionally observe that OKE currently boasts a PEG ratio of 4.68. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.52 based on yesterday's closing prices.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 35% 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.

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

To read this article on Zacks.com click here.

Zacks Investment Research