Trade-Ideas LLC identified
) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified ONEOK Partners as such a stock due to the following factors:
- OKS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $45.1 million.
- OKS has traded 76,205 shares today.
- OKS is trading at 2.03 times the normal volume for the stock at this time of day.
- OKS is trading at a new high 4.02% above yesterday's close.
'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.
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More details on OKS:
ONEOK Partners, L.P. engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines. The stock currently has a dividend yield of 9.6%. OKS has a PE ratio of 45. Currently there are 2 analysts that rate ONEOK Partners a buy, 3 analysts rate it a sell, and 5 rate it a hold.
The average volume for ONEOK Partners has been 1.7 million shares per day over the past 30 days. ONEOK has a market cap of $8.3 billion and is part of the basic materials sector and energy industry. Shares are down 1% year-to-date as of the close of trading on Tuesday.
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rates ONEOK Partners as a
. Among the primary strengths of the company is its reasonable valuation levels, considering its current price compared to earnings, book value and other measures. At the same time, however, we also find weaknesses including deteriorating net income, generally higher debt management risk and a generally disappointing performance in the stock itself.
Highlights from the ratings report include:
- Regardless of the drop in revenue, the company managed to outperform against the industry average of 34.7%. Since the same quarter one year prior, revenues fell by 32.1%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
- ONEOK PARTNERS -LP has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past two years. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, ONEOK PARTNERS -LP reported lower earnings of $0.77 versus $2.34 in the prior year. This year, the market expects an improvement in earnings ($2.05 versus $0.77).
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed against the S&P 500 and did not exceed that of the Oil, Gas & Consumable Fuels industry. The net income has significantly decreased by 97.3% when compared to the same quarter one year ago, falling from $263.23 million to $7.22 million.
- The debt-to-equity ratio of 1.16 is relatively high when compared with the industry average, suggesting a need for better debt level management. Along with this, the company manages to maintain a quick ratio of 0.38, which clearly demonstrates the inability to cover short-term cash needs.
- You can view the full ONEOK Partners Ratings Report.