Today’s Market Runner: Could ONEOK, Inc. Decline After Today’s Huge Increase?


Today's Market Runner: Could ONEOK, Inc. Decline After Today's Huge Increase?

The stock of ONEOK, Inc. (NYSE:OKE) is a huge mover today! About 711,941 shares traded hands. ONEOK, Inc. (NYSE:OKE) has risen 69.54% since March 16, 2016 and is uptrending. It has outperformed by 63.99% the S&P500.
The move comes after 7 months positive chart setup for the $10.97 billion company. It was reported on Oct, 19 by We have $67.48 PT which if reached, will make NYSE:OKE worth $3.40B more.

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 $95.84 million for 28.62 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 12 analysts covering ONEOK (NYSE:OKE), 2 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 17% are positive. ONEOK has been the topic of 27 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The company was downgraded on Friday, January 22 by Oppenheimer. Oppenheimer maintained the stock with “Outperform” rating in Tuesday, August 11 report. Credit Suisse initiated the stock with “Neutral” rating in Monday, September 14 report. The stock of ONEOK, Inc. (NYSE:OKE) earned “Overweight” rating by Morgan Stanley on Wednesday, January 20. The firm earned “Equal-Weight” rating on Tuesday, October 4 by Morgan Stanley. The stock has “Neutral” rating given by Credit Suisse on Thursday, February 25. The firm has “Buy” rating by Argus Research given on Monday, January 11. Citigroup maintained the shares of OKE in a report on Friday, June 17 with “Buy” rating. The stock has “Buy” rating given by Citigroup on Tuesday, April 19. The firm earned “Outperform” rating on Wednesday, December 23 by Oppenheimer.

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 2016 Q2. Its down 0.14, from 1.35 in 2016Q1. The ratio turned negative, 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.
Stephens Ar last reported 22,072 shares in the company. Retirement Of Alabama holds 0.03% of its portfolio in ONEOK, Inc. (NYSE:OKE) for 107,113 shares. Conning accumulated 0.01% or 4,886 shares. The California-based Tarbox Group has invested 0% in ONEOK, Inc. (NYSE:OKE). Diam Ltd last reported 65,745 shares in the company. State Of Tennessee Treasury Department has invested 0.01% of its portfolio in ONEOK, Inc. (NYSE:OKE). Endurance Wealth Mgmt holds 0% or 300 shares in its portfolio. Parkside Bank & Trust Tru accumulated 89 shares or 0% of the stock. Trust Of Oklahoma holds 0% or 12,184 shares in its portfolio. Legal And General Group Inc Public Ltd holds 0.05% of its portfolio in ONEOK, Inc. (NYSE:OKE) for 1.09 million shares. Westpac Bk Corporation, a Australia-based fund reported 9,934 shares. Benjamin F Edwards And Communications last reported 20,374 shares in the company. Chevy Chase Tru Holding has 0.05% invested in the company for 186,083 shares. Hanseatic Serv accumulated 31,432 shares or 0.57% of the stock. Exxonmobil Investment Management Tx, a Texas-based fund reported 54,386 shares.

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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