ONEOK (OKE) to Report Q2 Earnings: What's in the Cards?
ONEOK, Inc. OKE is scheduled to release second-quarter 2021 earnings on Aug 3, after market close. The company delivered an earnings surprise of 8.86% in the last reported quarter.
Let’s see how things are placed ahead of the upcoming quarterly announcement.
Factors to Consider
ONEOK’s second-quarter earnings are likely to have benefited from higher natural gas and NGL volumes in the Williston Basin. Contributions from projects completed in 2020 are also expected to have boosted the metric in the period under review.
A diversified customer base and fee-based income are likely to support the results to some extent. The company’s presence in the key producing regions, providing services to producers and processors is also a tailwind.
The Zacks Consensus Estimate for second-quarter 2021 sales is pegged at $4.01 billion, which indicates an increase of 141.6% from the year-ago quarter’s reported figure. The Zacks Consensus Estimate for second-quarter earnings is pegged at 78 cents per share, implying a 143.8% fall from the year-earlier quarter’s reported number.
What Our Quantitative Model Predicts
Our proven model doesn’t predict an earnings beat for ONEOK this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
ONEOK, Inc. Price and EPS Surprise
Earnings ESP: ONEOK has an Earnings ESP of -2.21%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, ONEOK carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are some companies worth considering from the same sector, which according to our model, have the right combination of elements to beat on earnings in the upcoming releases.
Portland General Electric Company POR is set to release second-quarter 2021 results on Jul 30. It has an Earnings ESP of +7.04% and a Zacks Rank of 3, currently.
Duke Energy DUK is set to release second-quarter 2021 results on Aug 5. It has an Earnings ESP of +0.15% and a Zacks Rank #2 at present.
NRG Energy, Inc. NRG is set to release second-quarter 2021 results on Aug 5. It has an Earnings ESP of +32.84% and is Zacks #3 Ranked, currently.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.Click here to download this report FREE >>
Click to get this free report
NRG Energy, Inc. (NRG): Free Stock Analysis Report
Duke Energy Corporation (DUK): Free Stock Analysis Report
ONEOK, Inc. (OKE): Free Stock Analysis Report
Portland General Electric Company (POR): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.