The stock of Oneok Inc. (NYSE: OKE) has decreased by -1.31 when compared to last closing price of 94.84. Despite this, the company has experienced a 1.43% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-04 that Many midstream energy companies pay stable, well-supported distributions or dividends with yields well over 5%. The relative quality of twenty-nine midstream energy companies was evaluated by means of a quality matrix with factors including valuation, profitability, growth, leverage, yield, and yield coverage. Based on this review, I recommend those investors who are interested in midstream energy first consider the five highest quality midstreams: HESM, WES, EPD, ET, and KNTK.
Is It Worth Investing in Oneok Inc. (NYSE: OKE) Right Now?
The price-to-earnings ratio for Oneok Inc. (NYSE: OKE) is 20.41x, which is above its average ratio. Moreover, the 36-month beta value for OKE is 1.63. Analysts have varying opinions on the stock, with 2 analysts rating it as a “buy,” 2 as “overweight,” 12 as “hold,” and 0 as “sell.”
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The public float for OKE is 582.83M and currently, short sellers hold a 1.57% of that float. On October 09, 2024, OKE’s average trading volume was 2.68M shares.
OKE’s Market Performance
OKE’s stock has seen a 1.43% increase for the week, with a 1.69% rise in the past month and a 13.70% gain in the past quarter. The volatility ratio for the week is 1.60%, and the volatility levels for the past 30 days are at 1.95% for Oneok Inc. The simple moving average for the past 20 days is 0.54% for OKE’s stock, with a 16.71% simple moving average for the past 200 days.
Analysts’ Opinion of OKE
Many brokerage firms have already submitted their reports for OKE stocks, with Morgan Stanley repeating the rating for OKE by listing it as a “Overweight.” The predicted price for OKE in the upcoming period, according to Morgan Stanley is $111 based on the research report published on September 16, 2024 of the current year 2024.
Seaport Research Partners, on the other hand, stated in their research note that they expect to see OKE reach a price target of $76. The rating they have provided for OKE stocks is “Buy” according to the report published on February 08th, 2024.
OKE Trading at 4.66% from the 50-Day Moving Average
After a stumble in the market that brought OKE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.55% of loss for the given period.
Volatility was left at 1.95%, however, over the last 30 days, the volatility rate increased by 1.60%, as shares surge +2.05% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.87% upper at present.
During the last 5 trading sessions, OKE rose by +1.43%, which changed the moving average for the period of 200-days by +36.74% in comparison to the 20-day moving average, which settled at $93.09. In addition, Oneok Inc. saw 33.30% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OKE starting from MOORE PATTYE L, who sale 3,379 shares at the price of $92.01 back on Sep 05 ’24. After this action, MOORE PATTYE L now owns 0 shares of Oneok Inc., valued at $310,902 using the latest closing price.
MOORE PATTYE L, the Director of Oneok Inc., proposed sale 3,379 shares at $91.83 during a trade that took place back on Sep 05 ’24, which means that MOORE PATTYE L is holding shares at $310,294 based on the most recent closing price.
Stock Fundamentals for OKE
Current profitability levels for the company are sitting at:
- 0.22 for the present operating margin
- 0.26 for the gross margin
The net margin for Oneok Inc. stands at 0.13. The total capital return value is set at 0.11. Equity return is now at value 21.41, with 7.47 for asset returns.
Based on Oneok Inc. (OKE), the company’s capital structure generated 0.57 points at debt to capital in total, while cash flow to debt ratio is standing at 0.21. The debt to equity ratio resting at 1.31. The interest coverage ratio of the stock is 6.16.
Currently, EBITDA for the company is 4.89 billion with net debt to EBITDA at 4.49. When we switch over and look at the enterprise to sales, we see a ratio of 4.02. The receivables turnover for the company is 14.32for trailing twelve months and the total asset turnover is 0.43. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.62.
Conclusion
To wrap up, the performance of Oneok Inc. (OKE) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
