Oneok Inc (NYSE: OKE) – Not A Clear Buying Opportunity?

Oneok Inc (OKE) concluded trading on Wednesday at a closing price of $108.17, with 4.36 million shares of worth about $471.62 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 32.55% during that period and on November 13, 2024 the price saw a gain of about 0.32%. Currently the company’s common shares owned by public are about 583.09M shares, out of which, 582.93M shares are available for trading.

Stock saw a price change of 5.84% in past 5 days and over the past one month there was a price change of 13.89%. Year-to-date (YTD), OKE shares are showing a performance of 54.04% which increased to 67.29% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $63.77 but also hit the highest price of $109.21 during that period. The average intraday trading volume for Oneok Inc shares is 2.71 million. The stock is currently trading 8.74% above its 20-day simple moving average (SMA20), while that difference is up 12.86% for SMA50 and it goes to 28.96% higher than SMA200.

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Oneok Inc (NYSE: OKE) currently have 583.09M outstanding shares and institutions hold larger chunk of about 70.62% of that.

The stock has a current market capitalization of $63.19B and its 3Y-monthly beta is at 1.64. PE ratio of stock for trailing 12 months is 22.64, while it has posted earnings per share of $4.78 in the same period. Its PEG reads 3.06 and has Quick Ratio of 0.59 while making debt-to-equity ratio of 1.67. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OKE, volatility over the week remained 2.25% while standing at 1.96% over the month.

Stock’s fiscal year EPS is expected to drop by -6.95% while it is estimated to increase by 15.67% in next year. EPS is likely to shrink at an annualized rate of 7.39% for next 5-years, compared to annual growth of 14.52% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on October 17, 2024 offering a Buy rating for the stock and assigned a target price of $105 to it. Coverage by Morgan Stanley stated Oneok Inc (OKE) stock as an Overweight in their note to investors on September 16, 2024, suggesting a price target of $111 for the stock. Stock get a Buy rating from BofA Securities on December 04, 2023.

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