Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
Trade-Ideas LLC identified
) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified ONEOK as such a stock due to the following factors:
- OKE has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $61.8 million.
- OKE has traded 1.3 million shares today.
- OKE is trading at a new lifetime high.
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More details on OKE:
ONEOK, Inc. operates as a diversified energy company in the United States. The company operates in three segments: ONEOK Partners, Natural Gas Distribution, and Energy Services. The stock currently has a dividend yield of 2.7%. OKE has a PE ratio of 41.7. Currently there are 7 analysts that rate ONEOK a buy, no analysts rate it a sell, and 2 rate it a hold.
The average volume for ONEOK has been 1.2 million shares per day over the past 30 days. ONEOK has a market cap of $11.8 billion and is part of the utilities sector and utilities industry. The stock has a beta of 1.12 and a short float of 3.2% with 6.31 days to cover. Shares are up 34.6% year to date as of the close of trading on Thursday.
rates ONEOK as a
. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
Highlights from the ratings report include:
- Since the same quarter one year prior, revenues rose by 17.9%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- Net operating cash flow has significantly increased by 111.58% to $233.27 million when compared to the same quarter last year.
- Compared to where it was trading one year ago, OKE is up 25.06% to its most recent closing price of 57.53. Looking ahead, although the push and pull of a bull or bear market could certainly alter the outcome, our view is that this stock's positive fundamentals give it good potential for further appreciation.
- The net income has decreased by 4.4% when compared to the same quarter one year ago, dropping from $65.22 million to $62.36 million.
- The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization.
- You can view the full ONEOK Ratings Report.