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ONEOK Reaches New 52-Week High (OKE)

By TheStreet Wire 09/21/12 - 11:49 AM EDT

Find out if (OKE) is in Cramer's Portfolio.

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

NEW YORK (TheStreet) -- ONEOK (NYSE:OKE) hit a new 52-week high Friday as it is currently trading at $47.37, above its previous 52-week high of $47.36 with 342,208 shares traded as of 11:26 a.m. ET. Average volume has been one million shares over the past 30 days.

ONEOK has a market cap of $9.62 billion and is part of the utilities sector and utilities industry. Shares are up 8.2% year to date as of the close of trading on Thursday.

ONEOK, Inc., a diversified energy company, engages in the gathering, processing, storage, and transportation of natural gas and natural gas liquids in the United States. The company operates through three segments: ONEOK Partners, Natural Gas Distribution, and Energy Services. The company has a P/E ratio of 29, above the average utilities industry P/E ratio of 27.7 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates ONEOK as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. You can view the full ONEOK Ratings Report.

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