Here's Why Oneok Inc. (OKE) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Oneok Inc. (OKE)
Tulsa, OK-based ONEOK Inc. was founded in 1906. The company is an energy company engaged in natural gas and natural gas liquids (NGL) businesses. On Jun 30, 2017, ONEOK acquired all the shares of ONEOK Partners.
OKE boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Oneok Inc. has seen some interesting price action recently; the stock is up 6.6% over the past one week and up 2.2% over the past four weeks. And in the last one-year period, OKE has gained 23.8%. As for the stock's trading volume, 9,157,157 shares on average were traded over the last 20 days.
Momentum investors also pay close attention to a company's earnings. For OKE, three analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.06 to $5.61 per share for 2023. OKE boasts an average earnings surprise of 6.5%.
Investors should take the time to consider OKE for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
