Market Analysts see ONEOK Inc. [OKE] gaining to $75. Time to buy?

ONEOK Inc. [NYSE: OKE] loss -0.68% or -0.47 points to close at $69.04 with a heavy trading volume of 2780495 shares. The company report on January 23, 2023 that ONEOK to Participate in U.S. Capital Advisors Midstream Corporate Access Day.

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ONEOK, Inc. (NYSE: OKE) will participate in investor meetings at the U.S. Capital Advisors Midstream Corporate Access Day on Jan. 24, 2023, in Houston, Texas.

It opened the trading session at $68.90, the shares rose to $69.11 and dropped to $67.77, the range by which the price of stock traded the whole day. The daily chart for OKE points out that the company has recorded 14.99% gains over the past six months. However, it is still -36.71% lower than its most recent low trading price.

If we look at the average trading volume of 2.44M shares, OKE reached to a volume of 2780495 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $71.12 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 2.60. 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.

JP Morgan have made an estimate for ONEOK Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 10, 2023. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $68 to $75. The new note on the price target was released on December 16, 2022, representing the official price target for ONEOK Inc. stock. Previously, the target price had yet another raise to $67, while Citigroup analysts kept a Neutral rating on OKE stock.

The Average True Range (ATR) for ONEOK Inc. is set at 1.90, with the Price to Sales ratio for OKE stock in the period of the last 12 months amounting to 1.35. The Price to Book ratio for the last quarter was 4.90, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for OKE in the course of the last twelve months was 195.74 with Quick ratio for the last quarter at 0.50.

Trading performance analysis for OKE stock

ONEOK Inc. [OKE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.57. With this latest performance, OKE shares gained by 7.69% in over the last four-week period, additionally plugging by 14.99% over the last 6 months – not to mention a rise of 17.76% 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 57.14, with the RSI for the last a single of trading hit 55.10, and the three-weeks RSI is set at 57.44 for ONEOK Inc. [OKE]. The present Moving Average for the last 50 days of trading for this stock 66.09, while it was recorded at 69.52 for the last single week of trading, and 62.19 for the last 200 days.

ONEOK Inc. [OKE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and ONEOK Inc. [OKE] shares currently have an operating margin of +16.52 and a Gross Margin at +17.48. ONEOK Inc.’s Net Margin is presently recorded at +8.68.

Return on Equity for this stock inclined to 24.88, with Return on Assets sitting at 6.42.

ONEOK Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.70.

ONEOK Inc. [OKE]: An earnings per share (EPS) analysis

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 11.80%.

An analysis of insider ownership at ONEOK Inc. [OKE]

There are presently around $21,010 million, or 69.80% of OKE stock, in the hands of institutional investors. The top three institutional holders of OKE stocks are: VANGUARD GROUP INC with ownership of 53,239,870, which is approximately 0.902% of the company’s market cap and around 0.61% of the total institutional ownership; BLACKROCK INC., holding 46,070,979 shares of the stock with an approximate value of $3.18 billion in OKE stocks shares; and STATE STREET CORP, currently with $2.29 billion in OKE stock with ownership of nearly -0.073% of the company’s market capitalization.

Positions in ONEOK Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 499 institutional holders increased their position in ONEOK Inc. [NYSE:OKE] by around 15,468,832 shares. Additionally, 390 investors decreased positions by around 10,179,960 shares, while 177 investors held positions by with 278,664,409 shares. The mentioned changes placed institutional holdings at 304,313,201 shares, according to the latest SEC report filing. OKE stock had 97 new institutional investments in for a total of 1,526,655 shares, while 89 institutional investors sold positions of 1,829,064 shares during the same period.


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