Checking the Overall Picture for ONEOK, Inc. (OKE)

ONEOK, Inc. (OKE) is an interesting player in the Utilities space, with a focus on Gas Utilities. The stock has been active on the tape, currently trading at $57.59, up from yesterday’s close by 0.49%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

ONEOK, Inc. (OKE) currently trades with a market capitalization of $23.18 Billion. That value represents a market adjusting for revenues that have been growing by 42.86 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $987.76 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.61 on a per share basis this quarter. Perhaps, that suggests something about why 0.80% of the outstanding share supply is held by institutional investors.

Technical Analysis

Sometimes, we can understand most about a stock by simply looking at how it has been trading. Looking at the stock’s movement on the chart, ONEOK, Inc. recorded a 52-week high of $61.36. It is now trading 3.77% off that level. The stock is trading $57.30 its 50-day moving average by -0.29000000000001%. The stock carved out a 52-week low down at $47.14.

In recent action, ONEOK, Inc. (OKE) has made a move of +6.00% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 17.8, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 2.64% with $402.58 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of OKE.

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