Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
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 is a Zacks Rank #2 (Buy) stock, with a Momentum Style Score of B and VGM Score of A. Shares are down 4.2% over the past one week and up 2.2% over the past four weeks. OKE has gained 12.6% in the last one-year period as well. Looking at trading volume, an average of 4,393,593 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2023, one analyst revised their earnings estimate higher in the last 60 days for OKE, while the Zacks Consensus Estimate has increased $0.04 to $5.63 per share. OKE also boasts an average earnings surprise of 6.5%.
OKE should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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ONEOK, Inc. (OKE) : Free Stock Analysis Report
