Is Buying Oneok Inc (NYSE:OKE), Having Lower Short Interest a Winning Strategy?

October 11, 2018 - By Dolores Ford

ONEOK, Inc. (NYSE:OKE) Logo

Investors sentiment decreased to 1.33 in 2018 Q2. Its down 0.02, from 1.35 in 2018Q1. It is negative, as 32 investors sold ONEOK, Inc. shares while 202 reduced holdings. 93 funds opened positions while 218 raised stakes. 293.95 million shares or 1.06% less from 297.11 million shares in 2018Q1 were reported.
Arvest Fincl Bank Trust Division reported 0.04% of its portfolio in ONEOK, Inc. (NYSE:OKE). Chesley Taft And Limited Com holds 9,875 shares. Cibc World Incorporated invested 0.01% of its portfolio in ONEOK, Inc. (NYSE:OKE). Cambridge Fincl Group reported 110,956 shares. Income Ptnrs Limited Liability Co invested in 2.16 million shares. Greystone Managed Invests invested in 40,000 shares or 0.12% of the stock. Baystate Wealth Mgmt Ltd Com holds 0% of its portfolio in ONEOK, Inc. (NYSE:OKE) for 94 shares. Pennsylvania Trust has invested 0.05% in ONEOK, Inc. (NYSE:OKE). Profund Ltd Com has 61,788 shares. 80,422 were reported by Karpas Strategies Ltd Company. Usca Ria Lc has 6,385 shares for 0.05% of their portfolio. 18,093 were accumulated by Wellington Shields And Limited Liability Company. 93,982 were reported by Heronetta Management L P. Brown Advisory has invested 0% in ONEOK, Inc. (NYSE:OKE). Opus Inv Management, Massachusetts-based fund reported 36,000 shares.

The stock of Oneok Inc (NYSE:OKE) registered a decrease of 9% in short interest. OKE’s total short interest was 7.58M shares in October as published by FINRA. Its down 9% from 8.34M shares, reported previously. With 1.79M shares average volume, it will take short sellers 4 days to cover their OKE’s short positions.

The stock decreased 1.89% or $1.27 during the last trading session, reaching $66.04. About 490,556 shares traded. ONEOK, Inc. (NYSE:OKE) has risen 16.08% since October 11, 2017 and is uptrending. It has outperformed by 0.46% the S&P500.

ONEOK, Inc., through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company has market cap of $27.16 billion. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines divisions. It has a 34.08 P/E ratio. It owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

ONEOK, Inc. (NYSE:OKE) Ratings Coverage

Among 9 analysts covering ONEOK (NYSE:OKE), 2 have Buy rating, 0 Sell and 7 Hold. Therefore 22% are positive. ONEOK had 11 analyst reports since April 17, 2018 according to SRatingsIntel. Bank of America maintained the stock with “Neutral” rating in Thursday, August 2 report. The firm has “Hold” rating given on Wednesday, July 18 by Jefferies. The stock of ONEOK, Inc. (NYSE:OKE) has “Outperform” rating given on Thursday, September 13 by Wells Fargo. The company was maintained on Friday, July 27 by JP Morgan. The company was maintained on Tuesday, April 17 by Barclays Capital. The rating was maintained by Barclays Capital on Wednesday, July 11 with “Overweight”. The firm has “Hold” rating by Stifel Nicolaus given on Thursday, May 3. The firm has “Overweight” rating given on Tuesday, June 12 by Barclays Capital.

More important recent ONEOK, Inc. (NYSE:OKE) news were published by: Globenewswire.com which released: “Factors of Influence in 2018, Key Indicators and Opportunity within Ironwood Pharmaceuticals, Erie Indemnity, ONEOK …” on October 11, 2018, also Seekingalpha.com published article titled: “Update From Zombieland”, Streetinsider.com published: “Goldman Sachs Starts ONEOK Inc (OKE) at Neutral” on October 09, 2018. More interesting news about ONEOK, Inc. (NYSE:OKE) was released by: Fool.com and their article: “Yet Another MLP Is Disappearing (but That’s Excellent News for Dividend Investors)” with publication date: October 09, 2018.

ONEOK, Inc. (NYSE:OKE) Institutional Positions Chart

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