Shares of ONEOK (OKE) Rally 1.6%

ONEOK (OKE) : Traders are bullish on ONEOK (OKE) as it has outperformed the S&P 500 by a wide margin of 1.17% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.11%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.6% in the last 1 week, and is up 5.6% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 2.94% and the 50-Day Moving Average is 8.84%.

ONEOK (NYSE:OKE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $47.75 and $47.60 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $48.35. The buying momentum continued till the end and the stock did not give up its gains. It closed at $48.12, notching a gain of 1.33% for the day. The total traded volume was 2,008,586 . The stock had closed at $47.49 on the previous day.


The company Insiders own 0.9% of ONEOK shares according to the proxy statements. Institutional Investors own 74.99% of ONEOK shares. During last six month period, the net percent change held by insiders has seen a change of -18.81%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Oneok Inc /New/, Derksen Brian L, had purchased 1,800 shares in a transaction dated on March 17, 2016. The transaction was executed at $30.33 per share with total amount equaling $54,594.

ONEOK, Inc. is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment provides nondiscretionary services to producers, including gathering and processing of natural gas produced from crude oil and natural gas wells. The Natural Gas Liquids segment owns and operates facilities that gather, fractionate, treat and distribute natural gas liquids (NGLs), and store NGL products, primarily in Oklahoma, Kansas, Texas, New Mexico and the Rocky Mountain region. The Natural Gas Pipelines segment owns and operates regulated natural gas transmission pipelines and natural gas storage facilities.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.