Oneok Climbing the Ladder as a Bounce Back Play
Oneok Inc. (OKE) is a high-yield stock benefiting from soaring natural gas demand. A yield of 7% stems from the company’s lucrative core business, which entails gathering, storing, and transporting natural gas. The company owns a premier collection of natural gas liquid (NGL) systems that it uses to connect suppliers in the Permian and the Rocky Mountain regions. Stock Analysis The stock has come under pressure in recent weeks after an impressive start to the year that saw it rally by 25%, registering a new 52-week high of $75.07 in April. The stock is down by 21% from 52-week highs and down by 3.5% year-to-date.
Oneok Climbing the Ladder as a Bounce Back Play
Oneok Inc. (OKE) is a high-yield stock benefiting from soaring natural gas demand. A yield of 7% stems from the company’s lucrative core business, which entails gathering, storing, and transporting natural gas. The company owns a premier collection of natural gas liquid (NGL) systems that it uses to connect suppliers in the Permian and the Rocky Mountain regions. Stock Analysis The stock has come under pressure in recent weeks after an impressive start to the year that saw it rally by 25%, registering a new 52-week high of $75.07 in April. The stock is down by 21% from 52-week highs and down by 3.5% year-to-date.