Large Inflow of Money Detected in ONEOK

ONEOK (OKE) : Tuesdays money flow points at investors jumping to buy the stock on the weakness of price. $18.83 million worth of transactions were on upticks, whereas, the downticks accounted for $11.11 million worth of transactions. The net money flow was a positive $7.72 million and the uptick to downtick ratio was 1.7. The net money flow into the stock was $8.02 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $8.02 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. ONEOK (OKE) was trading at $47.16, down $0.2 during day. The stock slid -0.42% over the previous days close. For the week, the stock recorded 0.38% over the previous weeks close.


Also, Jefferies maintains their rating on the shares of ONEOK (NYSE:OKE). The current rating of the shares is Hold. Equity Analysts at the Firm raises the price target to $43 per share from $42 per share. The rating by the firm was issued on July 25, 2016.

ONEOK Inc. has dropped 2.32% in the last five trading days, however, the shares have posted positive gains of 11.19% in the last 4 weeks. ONEOK Inc. is up 9.21% in the last 3-month period. Year-to-Date the stock performance stands at 102.5%.

ONEOK (NYSE:OKE): The stock opened at $47.60 on Tuesday but the bulls could not build on the opening and the stock topped out at $47.87 for the day. The stock traded down to $46.93 during the day, due to lack of any buying support eventually closed down at $47.16 with a loss of -0.42% for the day. The stock had closed at $47.36 on the previous day. The total traded volume was 1,509,477 shares.

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.

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