ONEOK Inc. (OKE), a leader in the energy sector, has been on a rollercoaster ride recently. Reports insight from Chicago Partners Investment Group LLC and Blackstone Inc. indicate shares have been sold, lowering their overall positions in ONEOK Inc. However, other investors such as Bayesian Capital Management LP, Beacon Financial Group, and Raleigh Capital Management Inc have increased their shares.
ONEOK's shares have tripped and stumbled on multiple trading days, not keeping pace with its competitors or even broader markets. However, there is a bright side, as increased volumes in Williston are reported to be driving EBITDA growth for the company in 2024. Furthermore, the institutional ownership of the company is robust, with 70% of the company being held by institutional owners.
Analysts have given a consensus rating of 'hold'. In other notable news, ONEOK shareholders and Magellan unitholders have approved a merger. While the stock's performance has been sporadic, it's up 3.5% since its last earnings report and up 5.8% since the last quarterly report. The underlying strength of the company is seen in its high fee-based earnings and midstream assets.
Oneok OKE News Analytics from Wed, 01 Nov 2023 07:00:00 GMT to Sun, 16 Jun 2024 18:04:09 GMT - Rating -1 - Innovation -5 - Information 2 - Rumor -3
