ONEOK Inc. [OKE] gain 37.57% so far this year. What now?

ONEOK Inc. [NYSE: OKE] surged by $0.29 during the normal trading session on Thursday and reaching a high of $53.46 during the day while it closed the day at $52.80. The company report on May 27, 2021 that ONE Gas, Inc. President and Chief Executive Officer announces Retirement.

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On May 25, 2021, ONE Gas, Inc. (NYSE: OGS) announced via a Form 8-K filed with the Securities and Exchange Commission the retirement of its president and chief executive officer, Pierce H Norton II, effective June 27, 2021. Commensurate with Mr. Norton’s retirement date, he will also resign as a director of the ONE Gas Board of Directors. Mr. Norton has accepted the role of president and chief executive officer of ONEOK Inc. (NYSE: OKE) effective on June 28, 2021.

“Since the formation of ONE Gas in 2014, we have focused on executing our mission, vision and strategic plan with the guidance of our core values. The result is a culture that creates value for all stakeholders and is built to appropriately and effectively navigate leadership change. I have been extremely fortunate to have been surrounded by a strong executive team the last seven years and to have worked alongside our 3,700 talented and dedicated employees,” said Pierce Norton outgoing president and chief executive officer of ONE Gas. The company is well positioned for continued growth and sustainability under new leadership,” Norton added.

ONEOK Inc. stock has also loss -1.66% of its value over the past 7 days. However, OKE stock has inclined by 19.21% in the 3 months of the year. Over the past six months meanwhile, it has gained 40.20% and gained 37.57% year-on date.

The market cap for OKE stock reached $23.71 billion, with 445.89 million shares outstanding and 442.87 million shares in the current float. Compared to the average trading volume of 2.88M shares, OKE reached a trading volume of 3526614 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about ONEOK Inc. [OKE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OKE shares is $52.05 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OKE stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for ONEOK Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on May 26, 2021. The new note on the price target was released on February 08, 2021, representing the official price target for ONEOK Inc. stock.

The Average True Range (ATR) for ONEOK Inc. is set at 1.43, with the Price to Sales ratio for OKE stock in the period of the last 12 months amounting to 2.47. The Price to Book ratio for the last quarter was 3.86, with the Price to Cash per share for the same quarter was set at 0.90.

OKE stock trade performance evaluation

ONEOK Inc. [OKE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.66. With this latest performance, OKE shares gained by 1.29% in over the last four-week period, additionally plugging by 40.20% over the last 6 months – not to mention a rise of 41.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OKE stock in for the last two-week period is set at 50.55, with the RSI for the last a single of trading hit 47.51, and the three-weeks RSI is set at 52.74 for ONEOK Inc. [OKE]. The present Moving Average for the last 50 days of trading for this stock 51.70, while it was recorded at 53.07 for the last single week of trading, and 39.81 for the last 200 days.

ONEOK Inc. [OKE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ONEOK Inc. [OKE] shares currently have an operating margin of +22.48 and a Gross Margin at +23.96. ONEOK Inc.’s Net Margin is presently recorded at +7.25.

Return on Total Capital for OKE is now 9.65, given the latest momentum, and Return on Invested Capital for the company is 3.13. Return on Equity for this stock inclined to 9.99, with Return on Assets sitting at 2.73. When it comes to the capital structure of this company, ONEOK Inc. [OKE] has a Total Debt to Total Equity ratio set at 237.68. Additionally, OKE Total Debt to Total Capital is recorded at 70.39, with Total Debt to Total Assets ending up at 62.23. Long-Term Debt to Equity for the company is recorded at 237.29, with the Long-Term Debt to Total Capital now at 70.27.

Reflecting on the efficiency of the workforce at the company, ONEOK Inc. [OKE] managed to generate an average of $212,339 per employee. Receivables Turnover for the company is 10.15 with a Total Asset Turnover recorded at a value of 0.38.ONEOK Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.00.

Earnings per share (EPS) analysis for ONEOK Inc. [OKE] stock

With the latest financial reports released by the company, ONEOK Inc. posted 0.32/share EPS, while the average EPS was predicted by analysts to be reported at 0.51/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -37.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OKE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ONEOK Inc. go to 9.16%.

ONEOK Inc. [OKE]: Insider Ownership positions

There are presently around $15,195 million, or 66.80% of OKE stock, in the hands of institutional investors. The top three institutional holders of OKE stocks are: VANGUARD GROUP INC with ownership of 49,937,171, which is approximately 1.298% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 41,319,634 shares of the stock with an approximate value of $2.17 billion in OKE stocks shares; and STATE STREET CORP, currently with $1.51 billion in OKE stock with ownership of nearly 10.779% of the company’s market capitalization.

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Positions in ONEOK Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 377 institutional holders increased their position in ONEOK Inc. [NYSE:OKE] by around 15,676,619 shares. Additionally, 364 investors decreased positions by around 18,477,749 shares, while 143 investors held positions by with 255,209,710 shares. The mentioned changes placed institutional holdings at 289,364,078 shares, according to the latest SEC report filing. OKE stock had 101 new institutional investments in for a total of 1,880,237 shares, while 75 institutional investors sold positions of 2,089,033 shares during the same period.

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