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In the latest trading session, Oneok Inc. (OKE - Free Report) closed at $99.34, marking a -1.3% move from the previous day. This change lagged the S&P 500's 0.08% gain on the day. On the other hand, the Dow registered a gain of 0.08%, and the technology-centric Nasdaq increased by 0.52%.

Shares of the natural gas company witnessed a gain of 2.05% over the previous month, beating the performance of the Oils-Energy sector with its loss of 1.36% and the S&P 500's loss of 7.33%.

For the full year, the Zacks Consensus Estimates are projecting earnings of $5.42 per share and revenue of $28.34 billion, which would represent changes of +4.84% and +30.63%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Oneok Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 8.97% downward. Right now, Oneok Inc. possesses a Zacks Rank of #4 (Sell).

In terms of valuation, Oneok Inc. is currently trading at a Forward P/E ratio of 18.57. This expresses a premium compared to the average Forward P/E of 13.18 of its industry.

We can also see that OKE currently has a PEG ratio of 4.23. 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. Oil and Gas - Production Pipeline - MLB stocks are, on average, holding a PEG ratio of 1.16 based on yesterday's closing prices.

The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 12, positioning it in the top 5% 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.

Investors will be eagerly watching for the performance of Oneok Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $1.31, up 20.18% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $7.35 billion, showing a 53.81% escalation compared to the year-ago quarter.

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