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Here’s What’s Ahead for Oneok Stock in the Short Term

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Dec. 4 2020, Updated 10:52 a.m. ET

Oneok’s moving averages

Oneok (OKE) is trading 3.3% below its 50-day moving average and 0.60% above its 200-day moving average. Its 50-day and 200-day moving averages might act as resistance and support, respectively, for the stock in the short term. Oneok fell below its 50-day moving average on April 17, 2017.

As the above graph shows, OKE crossed above its 200-day moving average in April 2016 and has been trading above that average since then. If it crosses below that level, it may indicate a further weakness in the stock in the short term.

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Analyst recommendations for OKE

Nearly 86.0% of analysts have rated Oneok a “hold,” 7.0% have rated it a “buy,” and 7.0% have rated it a “sell.” The median target price for the stock for the next year is $56. That implies a 6.0% upside over the next year from its current price of $52.61.

As for its peers, 43.0% of analysts surveyed have rated Plains All American Pipeline (PAA) a “buy,” and 93.0% have rated Enterprise Products Partners (EPD) a “buy.”

In the next part, we’ll look at Oneok’s estimated price range for this week based on its implied volatility.

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