Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>ONEOK recently delivered its Third Quarter 2024 Earnings report, highlighting a series of operational successes and strategic acquisitions that demonstrate both the growth potential and challenges the company faces going forward.</li><li>Currently positioned with a diversified set of energy assets, ONEOK showcased a robust financial performance that often underscores its resilience in a competitive and volatile energy market.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

ONEOK recently delivered its Third Quarter 2024 Earnings report, highlighting a series of operational successes and strategic acquisitions that demonstrate both the growth potential and challenges the company faces going forward.Currently positioned with a diversified set of energy assets, ONEOK showcased a robust financial performance that often underscores its resilience in a competitive and volatile energy market.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

ONEOK Inc.: Expanding Pipeline Infrastructure

<ul><li>ONEOK's Second Quarter 2024 Earnings illustrates strong financial and operational performance, underpinned by key strategic moves, acquisitions, and organic growth initiatives.</li><li>The integration and synergy realization post acquisition has been a significant positive driver.</li><li>The financial highlights from the quarter include a net income of $780 million or $1.33 per share, a substantial increase of 28% year over year, complemented with a 22% quarter over quarter rise.</li></ul>

ONEOK's Second Quarter 2024 Earnings illustrates strong financial and operational performance, underpinned by key strategic moves, acquisitions, and organic growth initiatives.The integration and synergy realization post acquisition has been a significant positive driver.The financial highlights from the quarter include a net income of $780 million or $1.33 per share, a substantial increase of 28% year over year, complemented with a 22% quarter over quarter rise.

ONEOK Inc.: A Story Of Commodity Pricing and Ethane Recovery Tailwinds! - Major Drivers

<ul><li>ONEOK, a midstream service provider in the natural gas industry, revealed substantial financial growth in its first-quarter 2024 earnings call.</li><li>The company reported healthy year-over-year volume growth in the Rocky Mountain region and meaningful contributions from the Refined Products and Crude segment.</li><li>ONEOK’s satisfactory performance in Q1 2024 was driven by favourable industrial fundamentals and the realization of commercial and cost synergies - increasing its full-year financial guidance for 2024.</li></ul>

ONEOK, a midstream service provider in the natural gas industry, revealed substantial financial growth in its first-quarter 2024 earnings call.The company reported healthy year-over-year volume growth in the Rocky Mountain region and meaningful contributions from the Refined Products and Crude segment.ONEOK’s satisfactory performance in Q1 2024 was driven by favourable industrial fundamentals and the realization of commercial and cost synergies - increasing its full-year financial guidance for 2024.

<ul><li>ONEOK has shown robust fiscal growth for the Q4 2023 and annually.</li><li>The firm reported net income of $2.7 billion annually and $688 million for the last quarter of 2023.</li><li>It conceded double digit growth in natural gas processing volume.</li></ul>

ONEOK has shown robust fiscal growth for the Q4 2023 and annually.The firm reported net income of $2.7 billion annually and $688 million for the last quarter of 2023.It conceded double digit growth in natural gas processing volume.

ONEOK Inc: Increased Demand For NGL & 5 Factors Driving Its Performance In 2024 & Beyond! - Financial Forecasts

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>The SPX is back near YTD highs and testing resistance in the 5670-5783 range, and we view this as an ideal time to reduce risk and shift to defensives.</li>
<li>We continue to believe that the SPX and Nasdaq 100 (QQQ) are going through a 1- to 4-month pullback/consolidation that could end up being a topping pattern.</li>
<li>After laying out expectations in our 8/13/24 Compass report for a bounce and test of YTD highs, we now expect SPX to roll over near current levels </li>
</ul>


The SPX is back near YTD highs and testing resistance in the 5670-5783 range, and we view this as an ideal time to reduce risk and shift to defensives.
We continue to believe that the SPX and Nasdaq 100 (QQQ) are going through a 1- to 4-month pullback/consolidation that could end up being a topping pattern.
After laying out expectations in our 8/13/24 Compass report for a bounce and test of YTD highs, we now expect SPX to roll over near current levels 


Upgrading Utilities to Overweight; Expecting $SPX to Roll Over; NVDA and SMH Topping?

United States

ONEOK, Inc. is a diversified energy company. The Company is involved in the natural gas and natural gas liquids business across the United States.

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Oneok Inc (OKE US)

ONEOK Inc.: Expanding Pipeline Infrastructure

ONEOK recently delivered its Third Quarter 2024 Earnings report, highlighting a series of operational successes and strategic acquisitions that...

Baptista Research

ONEOK Inc.: A Story Of Commodity Pricing and Ethane Recovery Tailwinds! - Major Drivers

ONEOK's Second Quarter 2024 Earnings illustrates strong financial and operational performance, underpinned by key strategic moves, acquisitions,...

Baptista Research

ONEOK Inc.: Expansion of Data Centers

ONEOK, a midstream service provider in the natural gas industry, revealed substantial financial growth in its first-quarter 2024 earnings...

Baptista Research

ONEOK Inc: Increased Demand For NGL & 5 Factors Driving Its Performance In 2024 & Beyond! - Financial Forecasts

ONEOK has shown robust fiscal growth for the Q4 2023 and annually. The firm reported net income of $2.7 billion annually and $688 million for the...

Baptista Research

Upgrading Utilities to Overweight; Expecting $SPX to Roll Over; NVDA and SMH Topping?

Upgrading Utilities $XLU to Overweight; Many Indexes Testing Resistance $SPX $DJI $IJH $IWM $XRT $EEM; Expecting SPX to Roll Over; $NVDA and $SMH...

Vermilion Research

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