Oneok Inc. (NYSE:OKE) shares, rose in value, with the stock price down by -0.14% to the previous day’s close as strong demand from buyers drove the stock to $77.00.
Actively observing the price movement in the last trading, the stock closed the session at $77.11. The value of beta (5-year monthly) was 1.61 whereas the PE ratio was 13.89 over 12-month period. Referring to stock’s 52-week performance, its high was $78.37, and the low was $55.91. On the whole, OKE has fluctuated by 11.42% over the past month.
With the market capitalization of Oneok Inc. currently standing at about $44.90 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 30, 2024 – May 06, 2024. The company’s Forward Dividend Ratio is 3.85, with its dividend yield at 5.01%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.22, which is expected to increase to $1.31 for fiscal year $5 and then to about $5.57 by fiscal year 2025. Data indicates that the EPS growth is expected to be -8.80% in 2025, while the next year’s EPS growth is forecast to be 11.40%.
Analysts have estimated the company’s revenue for the quarter at $6.24 billion, with a low estimate of $5.86 billion and a high estimate of $6.62 billion. According to the average forecast, sales growth in current quarter could jump up 16.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $25.18 billion, representing an increase of 42.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that OKE’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.20, with the price of OKE currently trading nearly 2.52% and 7.14% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 68.95, while the 7-day volatility ratio is showing 1.32% which for the 30-day chart, stands at 1.61%. Furthermore, Oneok Inc. (OKE)’s beta value is 1.61, and its average true range (ATR) is 1.19.
A comparison of Oneok Inc. (OKE) with its peers suggests the former has fared considerably weaker in the market. OKE showed an intraday change of -0.14% in last session, and over the past year, it grew by 26.48%%.
Data on historical trading for Oneok Inc. (NYSE:OKE) indicates that the trading volumes over the past 10 days have averaged 2.66 million and over the past 3 months, they’ve averaged 3.35 million. According to company’s latest data on outstanding shares, there are 583.09 million shares outstanding.
Nearly 0.26% of Oneok Inc.’s shares belong to company insiders and institutional investors own 70.09% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.76 million shares as on Feb 29, 2024, resulting in a short ratio of 3.45. According to the data, the short interest in Oneok Inc. (OKE) stood at 1.85% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 11.81 million. The stock has risen by 9.66% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OKE stock heading into the next quarter.
