New Lifetime High Reached: ONEOK (OKE)

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 ONEOK ( OKE) 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 $56.7 million.
  • OKE has traded 18,402 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 stock currently has a dividend yield of 3.4%. OKE has a PE ratio of 48.2. Currently there are 6 analysts that rate ONEOK a buy, no analysts rate it a sell, and 7 rate it a hold.

The average volume for ONEOK has been 966,100 shares per day over the past 30 days. ONEOK has a market cap of $14.1 billion and is part of the utilities sector and utilities industry. The stock has a beta of 0.98 and a short float of 2.2% with 6.17 days to cover. Shares are up 10.1% year-to-date as of the close of trading on Tuesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates ONEOK as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, increase in net income 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.

Highlights from the ratings report include:
  • The revenue growth came in higher than the industry average of 2.4%. Since the same quarter one year prior, revenues rose by 10.8%. 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.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Oil, Gas & Consumable Fuels industry and the overall market, ONEOK INC's return on equity significantly exceeds that of both the industry average and the S&P 500.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 6601.8% when compared to the same quarter one year prior, rising from $0.92 million to $61.59 million.
  • Compared to its closing price of one year ago, OKE's share price has jumped by 33.08%, exceeding the performance of the broader market during that same time frame. We feel that the stock's sharp appreciation over the last year has driven it to a price level which is now somewhat expensive compared to the rest of its industry. The other strengths this company shows, however, justify the higher price levels.
  • ONEOK INC's earnings per share declined by 8.3% in the most recent quarter compared to the same quarter a year ago. The company has suffered a declining pattern of earnings per share over the past year. However, we anticipate this trend reversing over the coming year. During the past fiscal year, ONEOK INC reported lower earnings of $1.36 versus $1.65 in the prior year. This year, the market expects an improvement in earnings ($1.65 versus $1.36).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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