S&P 500 Mover: ONEOK Inc. (OKE) Gains 1.37% in Early Trading on July 22

ONEOK Inc. (OKE) is one of the best performing stocks in the S&P 500 Index shortly after the opening bell on July 22. Shares of OKE have climbed 1.37% about 30 minutes into the session to $46.91 after closing the day prior at $46.28. It’s early, but the stock has traded as high as $46.99 and as low as $46.47 so far. Today's quick advance has come with about 92,157 shares changing hands, compared to an average 30-day volume of 2.73 million for ONEOK Inc.. The price is currently below the 30-day volume weighted average price of $46.77 for OKE.

The share appreciation gives the Energy company a market capitalization of $9.72 billion based upon 210.1 million shares outstanding. It also means that OKE has a price-to-book ratio of 33.89:1 and a price-to-earnings ratio of 36.4:1.

In the past 52 weeks, shares of OKE have traded as low as $18.84 and as high as $49.085. Technical traders will take note that at $46.91, shares of OKE are trading above their 200-day MA at $31.93 and above their 50-day MA at $45.02. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is OKE?

ONEOK Inc is a diversified energy company. Its business segments include Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines. The company’s 2364 employees are led by CEO Terry K. Spencer from the corporate headquarters at 100 West Fifth Street in Tulsa, OK.

What is the S&P 500 Index?

Developed and managed by S&P Dow Jones Indices, the Standard & Poor’s 500 (typically just called the S&P 500) is a market value weighted stock index of 500 large companies listed on the New York Stock Exchange or NASDAQ exchanges. Originally built in 1923, the “Composite Index,” as it was called back then, included only a handful of stocks, with expansion to 90 stocks in 1926 and further expansion in 1957 to 500 components. The S&P Index Committee, comprised of a group of Standard and Poor’s analysts and economists, selects components of the index. Because it has a large number of blue chip companies spanning 11 sectors that capture about 80 percent of available market capitalization, the S&P 500 is widely regarded as the most comprehensive view of the U.S. stock market and a barometer of the health of the nation’s economy.

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