This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the energy space as it currently has a Zacks Industry Rank of 54 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, ONEOK is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
In fact, over the past month, current quarter estimates have risen from 38 cents per share to 39 cents per share, while current year estimates have risen from $1.72 per share to $1.76 per share. The company currently holds a Zacks Rank #3 (Hold), which is also a favorable signal.
So, if you are looking for a decent pick in a strong industry, consider ONEOK. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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
Zacks Investment Research
- Personal Investing Ideas & Strategies
- Utility Industry