Why Did ONEOK Inc (OKE) Stock Tumble -0.49% to $95.55?

BofA Securities has recently resumed ONEOK Inc (OKE) stock to Buy rating, as announced on October 17, 2024, according to Finviz. Earlier, on September 16, 2024, Morgan Stanley had raised the stock rating, setting a price target of $111 for OKE stock. Seaport Research Partners also raised Buy rating with a price target of $76. Additionally, Wolfe Research raised Peer Perform rating on January 10, 2024. BofA Securities analysts, in their report published on December 4, 2023, also raised Buy rating and set a price target of $72 for ONEOK Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.

ONEOK Inc (OKE) Stock Trading Recap

On Tuesday, ONEOK Inc (OKE) stock saw a decline, ending the day at $95.55 which represents a decrease of $-0.47 or -0.49% from the prior close of $96.02. The stock opened at $95.88 and touched a low of $94.96 during the day, reaching a high of $95.95. The volume of shares traded was 2.86 million exceeding the average volume of 2.65 million.


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OKE Stock Performance and Moving Averages

In recent trading, ONEOK Inc (OKE) stock price has shown some volatility, fluctuating -1.87% over the last five trades and 4.85% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 20.77%, and it has gained 14.66% in the previous three months. Currently, OKE is trading at -0.27%, 2.67%, and 16.36% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.

As of the latest trading close, OKE, a Energy sector stock, is trading -2.92% below its 52-week high but remains 50.88% above its 52-week low. The Average True Range (ATR) (14 days) of 1.63 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.

ONEOK Inc’s Profitability and Valuation Ratios

ONEOK Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 22.87% and a profit margin of 13.46%, with a gross margin of 20.77%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.

In terms of valuation, ONEOK Inc’s market capitalization stands at $55.81 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 20.83, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 15.59. Additionally, the Price-to-Sales Ratio is 2.93, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 3.34, comparing the market value to the company’s book value.

Understanding Insider Trading

Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.21% of ONEOK Inc (OKE)’s shares, while financial institutions hold 70.05%.

Notable insider trades include MOORE PATTYE L, Director at ONEOK Inc (OKE), who sold 3379 shares on Sep 05 ’24, at $92.01 each, totaling $0.31 million.

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