Is Buying Stock In ONEOK Inc. (OKE) A Good Move Today?

ONEOK Inc. (NYSE:OKE) saw an upside of 0.44% to close Monday at $61.90 after adding $0.27 on the day. The 5-day average trading volume is 2,006,200 shares of the company’s common stock. It has gained $62.78 in the past week. An average of 2,737,560 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,292,350.

OKE’s 1-month performance is 17.93% or $9.41 on its low of $52.11 reached on 09/20/21. The company’s shares have touched a 52-week low of $26.76 and high of $61.91, with the stock’s rally to the 52-week high happening on 10/11/21. YTD, OKE has achieved 61.28% or $23.52. However, the current price is down -0.02%% from the 52-week high price.


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Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 48.18 and a low of 5.023. OKE stock has a beta of 1.89. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.40 while the price-to-book (PB) in the most recent quarter is 4.68.

ONEOK Inc. pays an annual dividend of $3.74 per share. Its dividend yield is 6.04% and the payout ratio is 123.70%. OKE’s most recent quarterly dividend payment was made on Aug. 16, when it paid $0.9350 a share compared with prior rate of $0.9350, down 0.0% from last year’s. The company has boosted its dividend for the last 4 consecutive years with the latest dividend increase of $0.02 reported on Wednesday January 15 2020. Measured over the last 3 years, the Dividend has been growing by 37.50% yearly.

It is projected that ONEOK Inc.’s next ex-dividend date will be on 1-Nov. OKE is expected to distribute $0.935 as its next dividend.

ONEOK Inc.’s quick ratio for the period ended June 29 was 0.70, with the current ratio over the same period at 0.90 meaning that OKE stock is not able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 2.31, while the total debt to equity was 2.40. In terms of profitability, the gross margin trailing 12 months is 34.80%. The trailing 12-month EBITDA margin is 29.32% while for the period ending June 29; ONEOK Inc.’s operating margin was 20.90%. The firm’s gross profit as reported stood at $1.36 billion against revenue of $8.54 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected OKE to announce $0.75 per share in earnings in its latest quarter, but it posted $0.77, representing a 2.70% surprise. EBITDA for the quarter stood at more than $768.43 million. OKE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 17.53 billion, with total debt at $14.42 billion. Shareholders hold equity totaling $445.66 million

Technical Picture

Let’s look briefly at ONEOK Inc. (OKE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 78.66% to suggest the stock is trending Overbought, with historical volatility in this time period at 15.37%.

The stock’s 5-day moving average is $60.92, reflecting a +3.06% or $1.84 change from its current price. OKE is currently trading +15.90% above its 20-day SMA, +17.10% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +19.11% and +59.54% respectively.

Stochastic %K and %D was 92.69% and 90.20% and the average true range (ATR) pointed at 1.52. The RSI (14) points at 73.20%, while the 14-day stochastic is at 89.92% with the period’s ATR at 1.52. The stock’s 9-day MACD Oscillator is pointing at 1.33 and 2.29 on the 14-day charts.

Analyst Ratings

Analysts offering their rating for OKE stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate OKE as a “sell,”, while 15 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 4 rates the stock as overweight while 4 have offered a “buy” rating.

What is OKE’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $46.00 and a high of $70.00, with their median price target at $57.00. Looking at these predictions, the average price target given by analysts is for ONEOK Inc. (OKE) stock is $57.86.

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