The stock of ONEOK, Inc. (NYSE:OKE) hit a new 52-week high and has $76.94 target or 47.00% above today’s $52.34 share price. The 5 months bullish chart indicates low risk for the $11.15 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $76.94 price target is reached, the company will be worth $5.24B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.72M shares traded hands or 3.61% up from the average. ONEOK, Inc. (NYSE:OKE) has risen 46.61% since April 19, 2016 and is uptrending. It has outperformed by 42.75% the S&P500.
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 “Perform” rating by Oppenheimer given on Friday, January 22. The stock of ONEOK, Inc. (NYSE:OKE) has “Hold” rating given on Wednesday, June 8 by Jefferies. The firm has “Outperform” rating given on Wednesday, December 23 by Oppenheimer. On Tuesday, April 19 the stock rating was maintained by Citigroup with “Buy”. US Capital Advisors downgraded the shares of OKE in a report on Wednesday, May 18 to “Hold” rating. Deutsche Bank upgraded ONEOK, Inc. (NYSE:OKE) on Monday, October 10 to “Hold” rating. The stock of ONEOK, Inc. (NYSE:OKE) has “Overweight” rating given on Wednesday, January 20 by Morgan Stanley. The firm has “Outperform” rating by Oppenheimer given on Tuesday, August 11. The firm has “Sector Perform” rating given on Monday, March 28 by RBC Capital Markets. On Friday, June 17 the stock rating was maintained by Citigroup with “Buy”.
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 1.2 in Q2 2016. Its down 0.01, from 1.21 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.
New Mexico Educational Retirement Board holds 0.05% of its portfolio in ONEOK, Inc. (NYSE:OKE) for 24,460 shares. The Illinois-based Advisory Research Inc has invested 0.91% in ONEOK, Inc. (NYSE:OKE). Advisor Prtn Ltd Limited Liability Company owns 6,837 shares or 0.11% of their US portfolio. Eulav Asset Mgmt accumulated 0.16% or 62,000 shares. Amalgamated Natl Bank last reported 0.05% of its portfolio in the stock. Bnp Paribas Arbitrage Sa has invested 0.01% of its portfolio in ONEOK, Inc. (NYSE:OKE). Breton Hill Capital Limited, a Ontario – Canada-based fund reported 16,386 shares. Evercore Wealth Lc last reported 0% of its portfolio in the stock. Kbc Grp Inc Nv reported 12,985 shares or 0.01% of all its holdings. Teachers Advisors, a New York-based fund reported 259,571 shares. Victory Capital Mgmt Incorporated reported 67,463 shares or 0.01% of all its holdings. Janus Management Lc reported 30,530 shares or 0% of all its holdings. Verition Fund Mngmt Ltd Com reported 30,673 shares or 0.19% of all its holdings. Tower Rech (Trc) last reported 0.01% of its portfolio in the stock. California State Teachers Retirement holds 0.05% of its portfolio in ONEOK, Inc. (NYSE:OKE) for 442,695 shares.
Another recent and important ONEOK, Inc. (NYSE:OKE) news was published by Nasdaq.com which published an article titled: “ONEOK Inc. Earnings Rise 18% In Q3” on November 01, 2016.
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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