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


ONEOK Inc. (NYSE:OKE) saw a downside of -0.32% to close Tuesday at $69.51 after subtracting -$0.22 on the day. The 5-day average trading volume is 2,458,980 shares of the company’s common stock. It has gained $71.19 in the past week and touched a new high 1 time within the past 5 days. An average of 2,191,620 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,415,902.

OKE’s 1-month performance is 6.92% or $3.95 on its low of $63.24 reached on 01/04/23. The company’s shares have touched a 52-week low of $50.50 and high of $75.07, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, OKE has achieved 5.80% or $3.81 and has reached a new high 7 times. However, the current price is down -7.41% from the 52-week high price.

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Insider Transactions

OKE stock investors last saw insider trading activity on Jun 17.HELDERMAN MARK W (Director) most recently sold 30,000 shares at $67.27 per share on Mar 03. This transaction cost the insider $2,017,950.

Valuation Metrics

OKE stock has a beta of 1.64. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.36 while the price-to-book (PB) in the most recent quarter is 4.93, with the price to cash flow ratio at 197.07.

ONEOK Inc.’s quick ratio for the period ended September 29 was 0.50, with the current ratio over the same period at 0.70. As well, the company’s long term debt to equity for the quarter ending September 29 was 1.89, while the total debt to equity was 2.18.. In terms of profitability, the gross margin trailing 12 months is 19.50%. The firm’s gross profit as reported stood at $2.6 billion against revenue of $16.54 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 9.21% to $431.48 million, while revenue of $414.1 million was 4.03% off the previous quarter. Analysts expected OKE to announce $0.96 per share in earnings in its latest quarter, but it posted $1.03, representing a 7.30% surprise. EBITDA for the quarter stood at more than $856.3 million. OKE stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 18.13 billion, with total debt at $13.86 billion. Shareholders hold equity totaling $446.95 million.

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 24 January was 59.61% to suggest the stock is trending Neutral, with historical volatility in this time period at 16.90%.

The stock’s 5-day moving average is $69.44, reflecting a -0.87% or -$0.61 change from its current price. OKE is currently trading +8.42% above its 20-day SMA, +10.28% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +14.21% and SMA200 by-1.82%.

Stochastic %K and %D was 76.92% and 75.72% and the average true range (ATR) pointed at 2.03. The RSI (14) points at 59.69%, while the 14-day stochastic is at 75.24% with the period’s ATR at 1.92. The stock’s 9-day MACD Oscillator is pointing at -0.26 and 0.93 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for ONEOK Inc. (NYSE: OKE), JP Morgan upgraded it to an Overweight rating. They previously had a Neutral rating on the stock. Analysts offering their rating for OKE stock have a consensus rating for the stock as Hold. Currently, 2 brokerage advisors rate OKE as a “sell,”, while 11 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 4 rates the stock as overweight while 5 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 $59.00 and a high of $81.00, with their median price target at $73.00. Looking at these predictions, the average price target given by analysts is for ONEOK Inc. (OKE) stock is $71.82.


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