It’s not easy plying one’s trade in the broader hydrocarbon energy industry — even with the Trump administration’s tacit support for the sector. Just look at natural gas and natural gas liquids (NGL) specialist Oneok (OKE). Despite delivering solid financial results and enjoying political relevance, Oneok can’t quite get it together in the equities arena. Still, the ugliness in the charts for OKE stock could spell opportunity for intrepid speculators.
Earlier this month, the Tulsa, Oklahoma-based energy company posted second-quarter net income of $841 million, per Barchart content partner AP. On a per-share basis, Oneok delivered earnings of $1.34, matching the consensus estimate by Wall Street analysts. Further, the natural gas specialist generated revenue of $7.89 billion in the period.
