ONEOK Inc. [NYSE: OKE] price plunged by -5.44 percent to reach at -$3.5. The company report on March 2, 2023 that ONEOK Schedules 2023 Annual Meeting of Shareholders; Sets Record Date.
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ONEOK, Inc. (NYSE: OKE) will hold its 2023 annual meeting of shareholders at 9 a.m. Central Daylight Time (CDT) on May 24, 2023, as a virtual meeting only. The meeting will be accessible through a live webcast.
The record date for determining shareholders entitled to receive notice of the meeting and to vote is March 27, 2023.
A sum of 4585032 shares traded at recent session while its average daily volume was at 2.38M shares. ONEOK Inc. shares reached a high of $62.52 and dropped to a low of $59.96 until finishing in the latest session at $60.88.
The one-year OKE stock forecast points to a potential upside of 15.9. The average equity rating for OKE stock is currently 2.60, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $72.39 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.
Scotiabank have made an estimate for ONEOK Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on March 02, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price from $71 to $75. The new note on the price target was released on January 10, 2023, representing the official price target for ONEOK Inc. stock. Previously, the target price had yet another raise from $68 to $75, while Wells Fargo kept a Overweight rating on OKE stock.
The Average True Range (ATR) for ONEOK Inc. is set at 1.97, with the Price to Sales ratio for OKE stock in the period of the last 12 months amounting to 1.24. The Price to Book ratio for the last quarter was 4.20, with the Price to Cash per share for the same quarter was set at 0.48. Price to Free Cash Flow for OKE in the course of the last twelve months was 859.16 with Quick ratio for the last quarter at 0.60.
OKE Stock Performance Analysis:
ONEOK Inc. [OKE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.26. With this latest performance, OKE shares dropped by -12.90% in over the last four-week period, additionally sinking by -1.30% over the last 6 months – not to mention a drop of -5.64% 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 29.97, with the RSI for the last a single of trading hit 24.34, and the three-weeks RSI is set at 34.74 for ONEOK Inc. [OKE]. The present Moving Average for the last 50 days of trading for this stock 67.75, while it was recorded at 63.79 for the last single week of trading, and 62.34 for the last 200 days.
Insight into ONEOK Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and ONEOK Inc. [OKE] shares currently have an operating margin of +13.27 and a Gross Margin at +13.64. ONEOK Inc.’s Net Margin is presently recorded at +7.53.
Return on Equity for this stock inclined to 27.54, with Return on Assets sitting at 7.18.
ONEOK Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.80.
OKE Stock EPS
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 12.50%.
ONEOK Inc. [OKE] Insider Position Details
There are presently around $19,203 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 53,863,544, which is approximately 1.171% of the company’s market cap and around 0.61% of the total institutional ownership; BLACKROCK INC., holding 48,440,272 shares of the stock with an approximate value of $2.95 billion in OKE stocks shares; and STATE STREET CORP, currently with $2.0 billion in OKE stock with ownership of nearly -0.953% of the company’s market capitalization.
Positions in ONEOK Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 554 institutional holders increased their position in ONEOK Inc. [NYSE:OKE] by around 22,092,335 shares. Additionally, 413 investors decreased positions by around 13,894,406 shares, while 162 investors held positions by with 279,437,614 shares. The mentioned changes placed institutional holdings at 315,424,355 shares, according to the latest SEC report filing. OKE stock had 171 new institutional investments in for a total of 2,263,846 shares, while 80 institutional investors sold positions of 1,969,547 shares during the same period.