Momentum Stock Watch: ONEOK, Inc. (OKE)

Company Profile:

ONEOK, Inc., together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions. It also gathers, treats, fractionates, and transports natural gas liquids (NGL), as well as stores, markets, and distributes NGL products. The company was founded in 1906 and is headquartered in Tulsa, Oklahoma.

Recent News:

The company reported second quarter 2020 net income and adjusted EBITDA of $134.3 million and $533.9 million, respectively.

On July 22, 2020, the board of directors of the company declared a quarterly dividend of 93.5 cents per share, unchanged from the previous quarter, resulting in an annualized dividend of $3.74 per share.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

OKE’s strengths can be seen in its strong growth and strong profitability compared with its peers. Its net income has increased over recent several years. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic oscillator, MACD is trying to cross back up and the RSI stands at 47.35 with positive bias. We rate ONEOK, Inc. (OKE) a STRONG BUY.

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