Wall Street analysts expect Oneok Inc. (OKE) to post quarterly earnings of $1.23 per share in its upcoming report, which indicates a year-over-year increase of 12.8%. Revenues are expected to be $7 billion, up 46.4% from the year-ago quarter.

The current level reflects a downward revision of 2.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

That said, let's delve into the average estimates of some Oneok metrics that Wall Street analysts commonly model and monitor.

The average prediction of analysts places 'Natural gas processed per day' at 6,118.74 BBtu/d. Compared to the current estimate, the company reported 2,894 BBtu/d in the same quarter of the previous year.

Analysts predict that the 'Raw feed throughput - Natural Gas Liquids' will reach 1,369.48 millions of barrels of oil per day. Compared to the current estimate, the company reported 1,241 MBBL/d in the same quarter of the previous year.

Analysts expect 'Adjusted EBITDA- Natural Gas Liquids' to come in at $686.37 million. The estimate is in contrast to the year-ago figure of $588 million.

Analysts forecast 'Adjusted EBITDA- Natural Gas Pipelines' to reach $171.15 million. Compared to the current estimate, the company reported $165 million in the same quarter of the previous year.

According to the collective judgment of analysts, 'Adjusted EBITDA- Natural Gas Gathering and Processing' should come in at $529.00 million. The estimate is in contrast to the year-ago figure of $306 million.

View all Key Company Metrics for Oneok here>>>

Shares of Oneok have demonstrated returns of -12.4% over the past month compared to the Zacks S&P 500 composite's -4.3% change. With a Zacks Rank #3 (Hold), OKE is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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