ONEOK, Inc.’s stock price takes a hit, plunging to $89.15 with a significant 5.85% drop.

ONEOK, Inc. (OKE)

89.15 USD -5.54 (-5.85%) Volume: 5.76M

ONEOK, Inc.’s stock price stands at 89.15 USD, experiencing a trading session dip of -5.85%, despite a robust YTD performance of +26.96%. With a trading volume of 5.76M, OKE’s stock continues to be a dynamic player in the market.

Latest developments on ONEOK, Inc.

Oneok Inc. (OKE) shares experienced a 4.97% decrease on September 26th, following a trend of losses in the Oklahoma energy sector as crude oil prices dropped by 3% on the same day. Despite this, Oneok Inc. stock managed to outperform its competitors. The Canada Pension Plan Investment Board increased its stock position in Oneok Inc., while Point72 Europe London LLP made a new investment in the company. Additionally, Oneok recently concluded an offering of nearly $7 billion in notes, indicating significant financial activity surrounding the company.

ONEOK, Inc. on Smartkarma

Analysts at Baptista Research on Smartkarma have provided bullish coverage on Oneok Inc, a midstream service provider in the natural gas industry. In their report titled “ONEOK Inc.: Expansion of Data Centers,” they highlighted the company’s substantial financial growth in the first quarter of 2024. The analysts noted healthy year-over-year volume growth in the Rocky Mountain region and significant contributions from the Refined Products and Crude segment. ONEOK’s satisfactory performance was attributed to favorable industrial fundamentals and the realization of commercial and cost synergies, leading to an increase in the company’s full-year financial guidance for 2024.

In another report by Baptista Research titled “ONEOK Inc.: A Story Of Commodity Pricing and Ethane Recovery Tailwinds! – Major Drivers,” analysts emphasized Oneok’s strong financial and operational performance in the second quarter of 2024. The report highlighted key strategic moves, acquisitions, and organic growth initiatives that underpinned the company’s success. The integration and synergy realization post-acquisition were identified as significant positive drivers for Oneok. Financial highlights from the quarter included a net income of $780 million or $1.33 per share, marking a substantial 28% year-over-year increase and a 22% quarter-over-quarter rise, showcasing the company’s growth trajectory.

A look at ONEOK, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Oneok Inc, a diversified energy company, has received a mixed outlook based on the Smartkarma Smart Scores. While the company scored well in Dividend and Momentum, with scores of 4 each, indicating a strong performance in these areas, it scored lower in Resilience with a score of 2. This suggests that the company may face some challenges in terms of its ability to withstand economic downturns or other adverse events in the long term.

On the other hand, Oneok Inc received moderate scores in Value and Growth, with scores of 3 each. This indicates that the company may offer fair value to investors and has potential for future growth, although not as strong as in the Dividend and Momentum categories. Overall, the Smartkarma Smart Scores suggest a cautiously optimistic outlook for Oneok Inc, with room for improvement in certain areas to enhance its long-term performance.

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