Exclusive: Is ONEOK, Inc. a Buy? The Stock Reaches 52-Week High Today

Exclusive: Is ONEOK, Inc. a Buy? The Stock Reaches 52 Week High Today

The stock of ONEOK, Inc. (NYSE:OKE) hit a new 52-week high and has $55.45 target or 5.00% above today’s $52.81 share price. The 5 months bullish chart indicates low risk for the $11.08 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $55.45 price target is reached, the company will be worth $554.00M 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 882,925 shares traded hands. ONEOK, Inc. (NYSE:OKE) has risen 51.92% since April 25, 2016 and is uptrending. It has outperformed by 45.91% the S&P500.

Analysts await ONEOK, Inc. (NYSE:OKE) to report earnings on February, 27. They expect $0.47 earnings per share, up 4.44% or $0.02 from last year’s $0.45 per share. OKE’s profit will be $98.61 million for 28.09 P/E if the $0.47 EPS becomes a reality. After $0.44 actual earnings per share reported by ONEOK, Inc. for the previous quarter, Wall Street now forecasts 6.82% 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. RBC Capital Markets initiated the shares of OKE in a report on Monday, March 28 with “Sector Perform” rating. The stock of ONEOK, Inc. (NYSE:OKE) earned “Hold” rating by US Capital Advisors on Wednesday, May 18. Oppenheimer downgraded the shares of OKE in a report on Friday, January 22 to “Perform” rating. The firm earned “Hold” rating on Wednesday, June 8 by Jefferies. The company was upgraded on Monday, May 9 by Barclays Capital. The stock of ONEOK, Inc. (NYSE:OKE) has “Equal Weight” rating given on Wednesday, December 16 by Barclays Capital. On Monday, January 11 the stock rating was upgraded by Argus Research to “Buy”. The company was upgraded on Wednesday, January 20 by Morgan Stanley. The stock has “Neutral” rating given by Credit Suisse on Monday, September 14. The stock of ONEOK, Inc. (NYSE:OKE) earned “Buy” rating by Citigroup on Friday, June 17.

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 is negative, 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.
Ww Asset Mgmt, a Michigan-based fund reported 21,621 shares. Visium Asset Management Lp has 0.22% invested in the company for 66,685 shares. Sumitomo Mitsui Trust accumulated 590,782 shares or 0.05% of the stock. Commonwealth Bancorp Of Aus reported 37,552 shares or 0.02% of all its holdings. Dana Inv Advsr holds 44,942 shares or 0.09% of its portfolio. The Texas-based Salient Cap Limited Liability Company has invested 5.52% in ONEOK, Inc. (NYSE:OKE). Stifel Financial last reported 186,615 shares in the company. Trexquant Invest Lp holds 18,500 shares or 0.12% of its portfolio. Invsts Advisory Svcs last reported 15,162 shares in the company. Cushing Asset Mgmt L P has 993,474 shares for 1.67% of their US portfolio. Cetera Advisor Ntwk Lc, a California-based fund reported 10,077 shares. Hartford Management Incorporated reported 203 shares or 0.01% of all its holdings. Euclid Advisors Limited Liability Corp last reported 0.01% of its portfolio in the stock. Mizuho Asset Coltd holds 0.03% or 3,288 shares in its portfolio. Citigroup holds 76,700 shares or 0% of its portfolio.

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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