Thursday, January 12, 2012

Chart of the Day - ONEOK (OKE)

The "Chart of the Day" is ONEOK (OKE), which showed up on Tuesday's Barchart "All Time High" list. ONEOK on Tuesday posted a new all-time high of $88.38 and closed up 1.61%. TrendSpotter has been Long on the stock for about 3 months since Oct 18 at $72.25. In recent news on the stock, Morgan Stanley on Nov 15 upgraded ONEOK to Overweight from Equal Weight and raised its price target to $93 from $82 based on growth from Bakken and Mid-Continent and the company's dividend growth. ONEOK, with a market cap of $9 billion, is engaged in the natural gas business.

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