Stock Rating Downgrade
The Value Trend Rating for ONEOK Inc (NYSE: OKE) fell significantly of late from A to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.
Recent Price Action
ONEOK Inc (NYSE: OKE) stock closed at $77.16 on 3/8/24 after a slight decline of -0.4%. However, below average trading volume at 68% of normal accompanied the decline. The stock has risen 2.7% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
OKE is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
ONEOK has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. ONEOK has a neutral Appreciation Score of 47 but a good Power Rating of 72, triggering the High Neutral Value Trend Rating.
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