ONEOK (OKE) : Traders are bullish on ONEOK (OKE) as it has outperformed the S&P 500 by a wide margin of 7.54% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.14%, 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 6.1% in the last 1 week, and is up 7.95% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
ONEOK Inc. is up 19.85% in the last 3-month period. Year-to-Date the stock performance stands at 113.44%. The stock has recorded a 20-day Moving Average of 9.59% and the 50-Day Moving Average is 8.65%.
ONEOK (NYSE:OKE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $49.44 and $48.94 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $49.86. The buying momentum continued till the end and the stock did not give up its gains. It closed at $49.71, notching a gain of 0.18% for the day. The total traded volume was 2,282,042 . The stock had closed at $49.62 on the previous day.
Also, Jefferies maintains its view on ONEOK (NYSE:OKE) according to the research report released by the firm to its investors. The shares have now been rated Hold by the stock experts at the ratings house. Jefferies raises the price target from $42 per share to $43 per share on ONEOK . The rating by the firm was issued on July 25, 2016.
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.