Is ONEOK Inc. (OKE) Stock Cheap Or Risky?


As of Wednesday close, ONEOK Inc.’s (NYSE:OKE) stock traded at $58.54. The average number of shares traded per day over the past five days has been 3,597,940 shares. 3 times new highs have been achieved over the past 5 days, with a $1.34 gain in that time frame. In the last twenty days, the average volume was 4,022,425, while in the previous 50 days, it was 3,071,398.

Since last month, OKE stock retreated -10.69%. Shares of the company fell to $55.91 on 05/17/23, the lowest level in the past month. A 52-week high of $71.57 was reached on 01/17/23 after having rallying from a 52-week low of $50.50. Since the beginning of this year, OKE’s stock price has dropped by -10.90% or -$7.16, and marked a new high 7 times. However, the stock has declined by -18.21% since its 52-week high.

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OKE stock investors should be aware that ONEOK Inc. (OKE) stock had its last reported insider trading activity 342 days ago on Jun 17. NORTON PIERCE, the President & CEO of the company, purchased of 8,975 shares for $55.54 on Jun 17. It resulted in a $498,462 investment by the insider.

Valuation Metrics

Right now, ONEOK Inc. (OKE) has a P/E ratio of about 11.04. The stock’s beta is 1.63. Besides these, the trailing price-to-sales (P/S) ratio of 1.22, the price-to-book (PB) ratio of 3.68, and the price-to-cash flow ratio of 34.87 may also be considered.

The latest dividend of $0.9550 per share was paid out, remained unchanged from last year’s $0.9550. On Wednesday January 18 2023, a $0.02 dividend increase was announced.

Financial Health

In the three months ended March 30, ONEOK Inc.’s quick ratio stood at 0.90, while its current ratio was 1.20, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 1.78, and the total debt-to-equity ratio was 1.85. On the profitability front, the trailing twelve-month gross margin is 21.30% percent. In the year ended March 30, EBITDA margin amounted to 16.00%, whereas operating margins totaled 17.00%. Based on annual data, OKE earned $2.81 billion in gross profit and brought in $22.39 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 11.30%. Return on equity (ROE) for the past 12 months was 36.50%.

In ONEOK Inc.’s quarter-end financial report for March 30, it reported total debt of $12.73 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. OKE’s revenue fell -20.43% to $5.03 billion during the quarter, while net income inched up to $4.52 billion. While analysts expected ONEOK Inc. to report $2.28 quarterly earnings, the actual figure was $2.34 per share, beating the consensus estimate by 2.60%. During the quarter, the company generated $1.66 billion in EBITDA. The liabilities of ONEOK Inc. were 17.33 billion at the end of its most recent quarter ended March 30, and its total debt was $13.31 billion. The value of shareholders’ equity is $447.44 million.

Technical Picture

This quick technical analysis looks at ONEOK Inc.’s (OKE) price momentum. With a historical volatility rate of 52.20%, the RSI 9-day stood at 36.01% on 24 May.

With respect to its five-day moving average, the current ONEOK Inc. price is up by +2.34% percent or $1.34. At present, OKE shares trade -9.55% below its 20-day simple moving average and -11.24% percent below its 100-day simple moving average. However, the stock is currently trading approximately -9.07% below its SMA50 and -1.13% below its SMA200.

Stochastic coefficient K was 26.61% and Stochastic coefficient D was 26.17%, while ATR was 1.75. Given the Stochastic reading of 28.22% for the 14-day period, the RSI (14) reading has been calculated as 36.65%. As of today, the MACD Oscillator reading stands at -0.22, while the 14-day reading stands at -2.00.

Analyst Ratings

ONEOK Inc. (OKE) has been rated Overweight by analysts. According to 1 brokerage firm, OKE is a sell, and 9 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 4 analysts rate ONEOK Inc. stock as buy, with 6 recommending it as overweight.

With a median target price of $71.00, the current consensus forecast for the stock is $57.00 – $81.00. Based on these forecasts, analysts predict ONEOK Inc. (OKE) will achieve an average price target of $71.00.


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