Time to Buy ONEOK, Inc. After Today’s Option Traders Bet?

 Time to Buy ONEOK, Inc. After Today's Option Traders Bet?

In today’s session ONEOK, Inc. (OKE) registered an unusually high (1,005) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious OKE increase. With 1,005 contracts traded and 18694 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: OKE161118C00050000 closed last at: $0.6 or 42.9% down. About 742,269 shares traded hands. ONEOK, Inc. (NYSE:OKE) has risen 63.69% since April 4, 2016 and is uptrending. It has outperformed by 62.60% the S&P500.

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. $53 is the highest target while $24 is the lowest. The $37.56 average target is -20.09% below today’s ($47) stock price. ONEOK has been the topic of 27 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The stock of ONEOK, Inc. (NYSE:OKE) earned “Perform” rating by Oppenheimer on Friday, January 22. Citigroup upgraded the stock to “Buy” rating in Tuesday, September 15 report. Credit Suisse upgraded ONEOK, Inc. (NYSE:OKE) rating on Thursday, December 31. Credit Suisse has “Outperform” rating and $40 price target. The company was upgraded on Monday, January 11 by Argus Research. Credit Suisse initiated the stock with “Neutral” rating in Monday, September 14 report. RBC Capital Markets initiated ONEOK, Inc. (NYSE:OKE) rating on Monday, March 28. RBC Capital Markets has “Sector Perform” rating and $35 price target. The stock has “Hold” rating given by Argus Research on Friday, June 17. The rating was maintained by Barclays Capital with “Equal Weight” on Wednesday, December 16. As per Monday, October 10, the company rating was upgraded by Deutsche Bank. Oppenheimer maintained the shares of OKE in a report on Tuesday, August 11 with “Outperform” rating.

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 is 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.
Ent Finance, a Missouri-based fund reported 964 shares. Sg Americas Securities Limited Liability Corporation last reported 0.06% of its portfolio in the stock. Moreover, Mark Sheptoff Fincl Planning Limited Liability Co has 0.01% invested in ONEOK, Inc. (NYSE:OKE) for 400 shares. Aull And Monroe Management Corp last reported 0.29% of its portfolio in the stock. Livingston Group Asset Management (Operating As Southport Capital Management), a Tennessee-based fund reported 105 shares. Penbrook Management Limited Liability Co has 0.8% invested in the company for 15,260 shares. Private Advisor Group Ltd Llc last reported 18,659 shares in the company. Parkwood Limited Liability Company accumulated 0.25% or 31,449 shares. Glenmede Company Na owns 90,671 shares or 0.03% of their US portfolio. Symphony Asset Mgmt Ltd Liability Corp reported 15,897 shares or 0.08% of all its holdings. Moreover, Incorporated Ok has 0% invested in ONEOK, Inc. (NYSE:OKE) for 14,449 shares. America First Investment Advsrs Lc holds 0.03% of its portfolio in ONEOK, Inc. (NYSE:OKE) for 1,610 shares. Moreover, Invsts Cap Advisory Services has 0.14% invested in ONEOK, Inc. (NYSE:OKE) for 15,162 shares. The California-based Kayne Anderson Cap Advsrs Limited Partnership has invested 2.54% in ONEOK, Inc. (NYSE:OKE). Jefferies Grp reported 1,600 shares or 0% of all its holdings.

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 $9.51 billion. The Firm operates through three business divisions: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. It has a 34.97 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.

More recent ONEOK, Inc. (NYSE:OKE) news were published by: Fool.com which released: “ONEOK, Inc. Earnings Rise on Higher Volumes at ONEOK Partners LP” on November 02, 2016. Also Nasdaq.com published the news titled: “ONEOK Inc. Earnings Rise 18% In Q3” on November 01, 2016. Seekingalpha.com‘s news article titled: “ONEOK Should Benefit From Natural Gas Price Rises” with publication date: October 24, 2016 was also an interesting one.

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