Patience To Be Paid Off: ONEOK, Inc. (OKE), Synovus Financial Corp. (SNV) – The RNS Daily

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ONEOK, Inc. (NYSE:OKE)’s beta now stands at 1.13 and when compared to its 200-day moving average and its 50-day moving average, OKE price stands 0.15% above and 9.16% above respectively. The stock dropped by -9.52% or -$6.85 from its last recorded high of $71.99 which it attained on October 07 to close at $65.14 per share. Over the past 52 weeks, the shares of ONEOK, Inc. has been trading as low as $50.26 before witnessing a massive surge by 29.61% or $14.88. This price movement has led to the OKE stock receiving more attention and has become one to watch out for. It dipped by -0.96% on Thursday and this got the market worried. Its average daily volatility for this week is 1.59% which is less than the 1.87% recorded over the past month.

ONEOK, Inc. (OKE) rose 1.45% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 15.46% and is now up by 20.74% since start of this year. A look at its monthly performance shows that the stock has recorded a 10.65% gain over the past 30 days. Its equity price climbed by 1.86% over the past three months which led to its overall six-month decrease to stand at -4.54%.

Experts from research firms are bullish about the near-term performance of ONEOK, Inc. with most of them predicting a $70.16 price target on a short-term (12 months) basis. The average price target by the analysts will see a 7.71% rise in the stock and would lead to OKE’s market cap to surge to $28.96B. The stock has been rated an average 2, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 20 analysts that track ONEOK, Inc. (NYSE:OKE) and find out that 7 of them rated it as a Hold. 13 of the 13 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.

A look at OKE technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 64.68 point. Its trading volume has added 15548 shares compared to readings over the past three months as it recently exchanged 2755548 shares. This means there is improved activity from short-term traders as per session, its average trading volume is 2740000 shares, and this is 1.01 times the normal volume.

The price of Synovus Financial Corp. (NYSE:SNV) currently stands at $37.34 after it went up by $0.61 or 1.66% and has found a strong support at $37.01 a share. If the SNV price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $36.69 mark would also be bad for the stock as it means that the stock would plunge by 1.74% from its current position. However, if the stock price is able to trade above the resistance point around $37.6, then it could likely surge higher to try and break the upward resistance which stands at $37.87 a share. Its average daily volatility over the past one month stands at 2.52%. The stock has plunged by 1.04% from its 52-weeks high of $36.95 which it reached on Nov. 06, 2018. In general, it is 19.84% above its 52-weeks lowest point which stands at $29.93 and this setback was observed on Dec. 26, 2018.

Analysts have predicted a price target for Synovus Financial Corp. (SNV) for 1 year and it stands at an average $41.91/share. This means that it would likely increase by 12.24% from its current position. The current price of the stock has been moving between $36.95 and $37.54. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $36. On the other hand, one analyst is super bullish about the price, setting a target as high as $50.

The SNV stock Stochastic Oscillator (%D) is at 88.33%, which means that it is currently overbought and its prices could dip very soon. The shares P/S ratio stands at 3.26 which compares to the 8.18 recorded by the industry or the 10.49 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 8.63, which is lower than the 10.77 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of -15.5% over the past five years.

Analysts view Synovus Financial Corp. (NYSE:SNV) as a Hold, with 2.2 consensus rating. Reuters surveyed 17 analysts that follow SNV and found that 7 of those analysts rated the stock as a Hold. The remaining 10 were divided, with 10 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Synovus Financial Corp. (SNV) shares or sell it if they already own it.

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