Today’s Price Action: Is Buying ONEOK, Inc. Here a Winning Strategy?

Today's Price Action: Is Buying ONEOK, Inc. Here a Winning Strategy?

The stock of ONEOK, Inc. (NYSE:OKE) is a huge mover today! About 420,766 shares traded hands. ONEOK, Inc. (NYSE:OKE) has risen 92.03% since March 8, 2016 and is uptrending. It has outperformed by 82.71% the S&P500.
The move comes after 9 months positive chart setup for the $10.69B company. It was reported on Oct, 11 by Barchart.com. We have $75.68 PT which if reached, will make NYSE:OKE worth $5.56 billion more.

Analysts await ONEOK, Inc. (NYSE:OKE) to report earnings on November, 1. They expect $0.45 EPS, up 9.76% or $0.04 from last year’s $0.41 per share. OKE’s profit will be $96.62M for 27.66 P/E if the $0.45 EPS becomes a reality. After $0.41 actual EPS reported by ONEOK, Inc. for the previous quarter, Wall Street now forecasts 9.76% EPS growth.

ONEOK, Inc. (NYSE:OKE) Ratings Coverage

Out of 12 analysts covering ONEOK (NYSE:OKE), 2 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 17% are positive. ONEOK has been the topic of 27 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Overweight” rating by Morgan Stanley given on Wednesday, January 20. Barclays Capital maintained the shares of OKE in a report on Wednesday, December 16 with “Equal Weight” rating. On Monday, October 10 the stock rating was upgraded by Deutsche Bank to “Hold”. The stock of ONEOK, Inc. (NYSE:OKE) has “Hold” rating given on Wednesday, May 18 by US Capital Advisors. The rating was maintained by Citigroup on Tuesday, April 19 with “Buy”. Credit Suisse maintained it with “Neutral” rating and $30 target price in Thursday, February 25 report. Morgan Stanley downgraded the shares of OKE in a report on Tuesday, October 4 to “Equal-Weight” rating. The rating was upgraded by Argus Research on Monday, January 11 to “Buy”. On Thursday, December 31 the stock rating was upgraded by Credit Suisse to “Outperform”. The firm has “Outperform” rating given on Tuesday, August 11 by Oppenheimer.

According to Zacks Investment Research, “ONEOK, Inc. is engaged in several aspects of the energy business. The company purchases, gathers, compresses, transports, stores, and distributes natural gas. It also leases pipeline capacity to others. The company drills for and produces oil and gas, extracts and sells natural gas liquids, and is engaged in the gas marketing business.”

Insitutional Activity: The institutional sentiment decreased to 1.21 in 2016 Q2. Its down 0.14, from 1.35 in 2016Q1. The ratio dived, as 39 funds sold all ONEOK, Inc. shares owned while 150 reduced positions. 91 funds bought stakes while 138 increased positions. They now own 149.28 million shares or 4.70% less from 156.65 million shares in 2016Q1.
Dana Advsr Inc last reported 0.09% of its portfolio in the stock. Thornburg Inv Mngmt last reported 1.34% of its portfolio in the stock. The New York-based Metropolitan Life Insur Com Ny has invested 0.05% in ONEOK, Inc. (NYSE:OKE). Next Fincl Group Incorporated last reported 0.01% of its portfolio in the stock. Omers Administration accumulated 0.13% or 137,000 shares. Moreover, State Street Corp has 0.05% invested in ONEOK, Inc. (NYSE:OKE) for 9.88M shares. Mizuho Trust And Company has 331,838 shares for 0.05% of their US portfolio. First Tru Advsr L P accumulated 546,436 shares or 0.08% of the stock. Burney last reported 0.02% of its portfolio in the stock. Aperio Grp Ltd Llc holds 0.05% or 133,270 shares in its portfolio. Allianz Asset Mngmt Ag owns 260,677 shares or 0.01% of their US portfolio. Winslow Evans Crocker Inc has invested 0% of its portfolio in ONEOK, Inc. (NYSE:OKE). Moreover, Meeder Asset Mngmt has 0.11% invested in ONEOK, Inc. (NYSE:OKE) for 24,213 shares. Signaturefd Ltd Liability, a Georgia-based fund reported 198 shares. The Illinois-based Citadel Ltd Liability Com has invested 0.03% in ONEOK, Inc. (NYSE:OKE).

OKE Company Profile

ONEOK, Inc., incorporated on May 16, 1997, is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Firm operates through three business divisions: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment provides nondiscretionary services to producers that include gathering and processing of natural gas produced from natural gas and crude oil wells. The Natural Gas Liquids segment owns and operates facilities that gather, fractionate, treat and distribute natural gas liquids (NGLs), and store NGL products, primarily in Oklahoma, Kansas, Texas, New Mexico and the Rocky Mountain region. The Natural Gas Pipelines segment owns and operates regulated natural gas transmission pipelines and natural gas storage facilities.

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