What’s Next for ONEOK, Inc. After Today’s Bearish Options Activity?

 What's Next for ONEOK, Inc. After Today's Bearish Options Activity?

In today’s session ONEOK, Inc. (OKE) recorded an unusually high (120) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious OKE decrease. With 120 contracts traded and 6884 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: OKE161021P00047500 closed last at: $0.65 or 13.3% down. About 517,878 shares traded hands. ONEOK, Inc. (NYSE:OKE) has risen 88.43% since March 4, 2016 and is uptrending. It has outperformed by 80.39% the S&P500.

Analysts await ONEOK, Inc. (NYSE:OKE) to report earnings on November, 1. They expect $0.45 EPS, up 9.76% or $0.04 from last year’s $0.41 per share. OKE’s profit will be $94.88 million for 27.35 P/E if the $0.45 EPS becomes a reality. After $0.41 actual EPS reported by ONEOK, Inc. for the previous quarter, Wall Street now forecasts 9.76% EPS growth.

ONEOK, Inc. (NYSE:OKE) Ratings Coverage

Out of 11 analysts covering ONEOK (NYSE:OKE), 2 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 18% are positive. ONEOK has been the topic of 26 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Monday, February 8 by Robert W. Baird. The stock of ONEOK, Inc. (NYSE:OKE) earned “Buy” rating by Citigroup on Tuesday, September 15. The firm earned “Neutral” rating on Monday, September 14 by Credit Suisse. The stock of ONEOK, Inc. (NYSE:OKE) earned “Overweight” rating by Barclays Capital on Monday, May 9. The stock has “Perform” rating given by Oppenheimer on Friday, January 22. The firm has “Equal Weight” rating by Barclays Capital given on Wednesday, December 16. The rating was maintained by Citigroup on Friday, June 17 with “Buy”. The firm has “Equal-Weight” rating given on Tuesday, October 4 by Morgan Stanley. The rating was maintained by Oppenheimer on Tuesday, August 11 with “Outperform”. The stock has “Hold” rating given by Argus Research on Friday, June 17.

According to Zacks Investment Research, “ONEOK, Inc. is engaged in several aspects of the energy business. The company purchases, gathers, compresses, transports, stores, and distributes natural gas. It also leases pipeline capacity to others. The company drills for and produces oil and gas, extracts and sells natural gas liquids, and is engaged in the gas marketing business.”

Insitutional Activity: The institutional sentiment decreased to 1.21 in Q2 2016. Its down 0.14, from 1.35 in 2016Q1. The ratio worsened, as 39 funds sold all ONEOK, Inc. shares owned while 150 reduced positions. 91 funds bought stakes while 138 increased positions. They now own 149.28 million shares or 4.70% less from 156.65 million shares in 2016Q1.
Royal Financial Bank Of Canada holds 0.01% or 231,335 shares in its portfolio. Liberty Mutual Grp Asset Mngmt has invested 0.03% of its portfolio in ONEOK, Inc. (NYSE:OKE). Synovus Fincl last reported 0% of its portfolio in the stock. Quantbot Techs Limited Partnership accumulated 0.52% or 103,497 shares. Country Natl Bank last reported 0% of its portfolio in the stock. Engineers Gate Manager Limited Partnership last reported 0.14% of its portfolio in the stock. Raymond James & Assoc accumulated 77,222 shares or 0.01% of the stock. Veritable Limited Partnership last reported 0.01% of its portfolio in the stock. National Bank Of America De has 0% invested in the company for 296,693 shares. Tompkins Fin, a New York-based fund reported 2,790 shares. Blackrock Japan holds 274,105 shares or 0.05% of its portfolio. Trust Communication Of Oklahoma last reported 0% of its portfolio in the stock. First Personal Fincl has 0% invested in the company for 105 shares. Agf Invests holds 264 shares or 0% of its portfolio. Teacher Retirement System Of Texas holds 0% of its portfolio in ONEOK, Inc. (NYSE:OKE) for 14,940 shares.

ONEOK, Inc. is the sole general partner of ONEOK Partners, L.P. , a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The company has a market cap of $10.38 billion. The Firm operates through three business divisions: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. It has a 36.63 P/E ratio. The Natural Gas Gathering and Processing segment provides non-discretionary services to producers that include gathering and processing of natural gas produced from natural gas and crude oil wells.

OKE Company Profile

ONEOK, Inc., incorporated on May 16, 1997, is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Firm operates through three business divisions: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment provides nondiscretionary services to producers that include gathering and processing of natural gas produced from natural gas and crude oil wells. The Natural Gas Liquids segment owns and operates facilities that gather, fractionate, treat and distribute natural gas liquids (NGLs), and store NGL products, primarily in Oklahoma, Kansas, Texas, New Mexico and the Rocky Mountain region. The Natural Gas Pipelines segment owns and operates regulated natural gas transmission pipelines and natural gas storage facilities.

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