Oneok Inc. [NYSE: OKE] Traded higher on 22/11/22, registering a gain of 3.51 and then closed the day’s session at $65.42. The Company reported on November 15, 2022 that Oneok announced a $750 million Notes offering.
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Oneok, Inc. (NYSE: OKE) today announced that it has offered to sell $750 million of 10-year senior notes at a coupon of 6.10%.
Net proceeds from the offering are expected to be $742 million after deducting underwriting discounts, commissions and offering expenses. Oneoc intends to use the net proceeds to repay outstanding dues under its commercial paper program. To the extent that the net proceeds from the Offering exceed the amount outstanding under its commercial paper program, Oneoc intends to use the additional net proceeds to repay other debt or for general corporate purposes. Oneok expects the offering of the Notes to close on or about November 18, 2022, subject to the satisfaction of customary closing conditions.
The results of the trading session contributed to the change of hands of over 4120251 shares. Over the past week, Oneok Inc. The price volatility has been 2.55% while the volatility has been 2.52% in the past one month.
The market cap for OKE stock reached $28.84 billion, with 447.68 million shares outstanding and 444.24 million shares in the current float. Compared to the average trading volume of 2.55M shares, OKE reached a trading volume of 4120251 shares in the most recent trading day, which is why market watchdogs consider the stock active.
What top market gurus say about Oneok Inc. [OKE],
Based on careful and fact-backed analysis by Wall Street experts, the current consensus on the target price for OKE shares is $67.88 per share. Target prices and analysis on the performance of stocks are usually carefully studied by market experts, and the current Wall Street consensus on OKE stock is a recommendation at 2.60. This rating represents a strong buy recommendation on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 indicates hold and 2 indicates buy.
Truist maintains Oneok Inc.’s view on the stock as Buy, in line with its previous recommendation on May 02, 2022. An estimate is made for the shares. While these analysts kept their previous recommendation, Goldman raised their target price from $58 to $68. The new Note on Price Target was issued on January 14, 2022, which Oneok Inc. Represents the official price target for the stock. Analysts reduced their price target for OKE shares from 72 to 66 on December 16, 2021.
Oneok Inc. The Average True Range (ATR) for OKE is set at 1.79, The price to sales ratio for OKE stock over the trailing 12-month period is 1.27. The Price to Book ratio for the previous quarter was 4.64, the Price to Cash per share for the same quarter was set at 0.05. Free Cash Flow value for OKE during the trailing twelve months was 183.26, with a quick ratio of 0.50 for the last quarter.
How has OKE stock performed recently?
Oneok Inc. [OKE] Reached the green zone at the end of last week, in a positive trend and with a gain of 0.26. With this latest performance, OKE shares are up 16.18% over the past four-week period, additionally down 2.65% over the past 6 months – not to mention a 5.62% gain in the last year’s trade.
Overbought and oversold stocks can be easily detected with the Relative Strength Index (RSI), where an RSI result of over 70 will result in overbought, and any rate below 30 will indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OKE stock for the past two-week period is set at 64.15, with the RSI for the last one trading hit at 65.50, and the three-week RSI for Oneok Inc. is set at 61.69. [OKE], The current moving average of this stock for last 50 days of trade is 58.22, while it was recorded at 64.28 for last one week and 62.22 for last 200 days.
Oneok Inc. [OKE]: Deep Insight into the Fundamentals
The operating margin for any stock indicates how profitable the investment will be, and ONEOK Inc. [OKE] The shares currently has an operating margin of +16.52 and gross margin at +17.48. ONEOK Inc. The net margin of currently stands at +8.68.
The Return on Equity for this stock is tilted at 24.88, with the Return on Assets sitting at 6.42.
ONEOK Inc. Equally intriguing is its liquidity data, with a quick ratio of 0.50 and a current ratio set at 0.70.
ONEOK Inc. earnings analysis for [OKE]
The company’s progress can be viewed through the prism of the EPS growth rate, while Wall Street analysts are focusing on predicting 5-year EPS growth rates for OKE. When it comes to quoted price, analysts recommend Oneok Inc. The 5-year EPS growth rate for the company is expected to go up to 8.10%.
ONEOK Inc. insider trade positions for [OKE]
Institutional investors currently hold approximately $20,086 million or 69.90% of OKE stock in hands. The top three institutional holders of OKE stock are: Vanguard Group Inc with ownership of $53,239,870, which accounts for approximately 0.902% of the company’s market cap and approximately 0.30% of total institutional ownership; Blackrock Inc. holds 46,070,979 shares in OKE stock shares with an estimated value of $3.01 billion; and STATE STREET CORP, currently with $2.17B in OKE stock under ownership of approximately -0.073% of the company’s market capitalization.
469 institutional holders increased their positions in Oneok Inc. [NYSE:OKE] By approximately 14,909,334 shares. Additionally, 401 investors reduced positions by approximately 10,245,473 shares, while 185 investors held positions totaling 281,879,769 shares. As per the latest SEC report filing, the mentioned changes put the institutional holdings at 307,034,576 shares. There were 76 new institutional investments in OKE stock for a total of 1,037,236 shares, while 94 institutional investors sold 1,845,786 shares during the same period.