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Short Interest in ONEOK Stock Rose 9% Recently

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Dec. 18 2017, Updated 11:26 a.m. ET

Short interest in OKE

Short interest as a percentage of floating shares in ONEOK (OKE) is 3.3%. This metric is higher compared to 3.0% at the end of November. According to data released on December 11, 2017, the total number of ONEOK shares shorted was ~12.4 million on November 30, 2017—9.4% higher compared to ~11.3 million on November 15, 2017.

Short interest in ONEOK is, however, lower than the average of ~4.7% in the last five years.

The chart above shows short interest in OKE as a percentage of its float along with OKE’s stock price. The higher short interest in ONEOK may show that more investors think its price could fall again soon.

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Short interest ratio

Short interest in ONEOK is ~12.4 million shares, whereas the average daily trading volume is ~2.3 million shares. So, ONEOK’s short interest ratio is ~5.4x. This indicates that it would take more than five days to cover all open short positions in OKE’s stock.

Short interest in Kinder Morgan (KMI) was ~54.7 million shares on November 30, 2017. It was 6.0% higher than ~51.5 million shares on November 15, 2017. The total number of Enterprise Products Partners (EPD) shares shorted was ~32.3 million on November 30, 2017, which was 8% higher than ~29.9 million on November 15, 2017.

In the next article, let’s see how OKE’s current valuation stands compared to its peers.

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