The stock of ONEOK Inc. (NYSE:OKE) decreased by -$0.13 on Tuesday to finish at $65.25, down -0.20 percent. The last five days have seen an average of 1,767,020 shares of common stock traded. 7 times new highs were reached in the current year, with a fall of -$0.45. The average number of shares traded over the last 20 days was 2,197,100, while the average volume over the last 50 days totaled 2,492,034.
OKE stock dropped -2.67% since last month. On 08/08/23, the company’s shares reached a one-month low of $63.05. The stock touched a high of $71.57 on 01/17/23, after rallying from a low of $50.50 in 52 weeks. The price of OKE stock has declined by -0.68% or -$0.45 this year, reaching a new high 7 times. Still, the stock price is down -8.84% from the 52-week high.
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Insider Transactions
OKE stock investors should be aware that ONEOK Inc. (OKE) stock had its last reported insider trading activity 62 days ago on Jun 29. On Jun 29, President & CEO NORTON PIERCE acquired 24,607 shares at $60.96 each. This transaction resulted in the insider spending $1,500,018. On Jun 28, DERKSEN BRIAN L added 4,900 shares at a price of US$59.59. After the transaction, the insider now owns 18,700 shares.
Valuation Metrics
ONEOK Inc. (OKE) has a trailing price-to-earnings (P/E) ratio of 12.04. Beta for the stock is 1.64. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.51, the price-to-book (PB) ratio of 4.05, and the price-to-cash flow ratio of 12.00.
Company paid $0.9550 per share in dividends, remained unchanged from $0.9550 last year. A $0.02 dividend increase was reported on Wednesday January 18 2023.
Financial Health
For the three months ended June 29, ONEOK Inc.’s quick ratio was 0.90, while its current ratio was 1.20, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.77, and the total debt to equity ratio is 1.77. As far as profitability goes, gross margin for the trailing twelve months is 24.50% percent. ONEOK Inc.’s EBITDA margin for the year ended June 29 was 16.00%, whereas its operating margin stood at 19.20% for the same period. Based on annual data, it had gross profit of $2.81 billion and revenue of $22.39 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. OKE’s return on assets (ROA) during the last 12 months has been 10.00%. There was a 11.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 35.80%.
Earnings Surprise
According to ONEOK Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $3.73 billion, while revenues fell by -60.68% to $4.52 billion. It was predicted that ONEOK Inc.’s quarterly earnings would be $1.04, but it ended up being $1.02, beating the consensus by 2.00%. EBITDA was $907.0 million for the quarter. At the end of ONEOK Inc.’s most recent quarter ended June 29, its liabilities totaled 16.82 billion, while its total debt was $12.82 billion. Equity owned by shareholders amounts to $447.68 million.
Technical Picture
Here’s a quick look at ONEOK Inc.’s (OKE) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 51.18%, suggesting the stock is Neutral, with a 8.18% historical volatility rate.
The stochastic %K and %D were 50.26% and 45.86% respectively, while the average true range (ATR) was 1.01. Based on the 14-day stochastic reading of 48.94%, the RSI (14) reading is 52.13%. On the 9-day MACD Oscillator, the stock is at 0.11, and the 14-day reading is at -0.07.
Analyst Ratings
In its most recent analyst report, Citigroup raised its rating on ONEOK Inc. (NYSE: OKE) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned ONEOK Inc. (OKE) an Overweight rating. OKE is a stock that is recommended for selling by 1 brokerage firm, while 7 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 5 rates it overweight and 6 others recommend it as a buy.
What is OKE’s price target for the next 12 months?
The current consensus forecast for the stock is between $61.00 and $80.00, with a median target price of $73.00. In analyzing these forecasts, the average price target given by analysts for ONEOK Inc. (OKE) is $72.25.
