#7 - Oneok (NYSE:OKE)
The natural gas sector is expected to be one of the hottest clean energy sectors for several years. That makes a case for Oneok, Inc. (NYSE: OKE). Oneok is a midstream company that has assets that help gather, process, store, and transport natural gas liquids. The company connects natural gas liquid suppliers throughout the Northern Plains and Midwest. And the company is planning to expand its footprint to include operations in the Bakken region of the Northern Plans.
Russia’s invasion of Europe effectively cut off Europe from its key supplier of natural gas. The United States and other nations have been racing to increase output to meet this demand. This is clearly showing up in the revenue and earnings for Oneok, which have grown on a year-over-year basis in each of the last four quarters ending in November 2022. That trend is likely to continue as long as the need for natural gas remains strong.
About ONEOK
ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.
More about ONEOK- Current Price
- $81.07
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $103.69 (27.9% Upside)
The clean energy sector is diverse, and the opportunity is massive. Once again, it must be said that demand for renewable energy solutions is only going to increase. If you need any more evidence of this, look at the number of oil and gas companies that are making sure they aren't left out of this expensive game of musical chairs.
But if the thought of where to invest in clean energy is causing analysis paralysis, one option may be to look at an exchange-traded fund (ETF) focused on renewable energy. Some options include the iShares Global Clean Energy ETF (NYSEARCA: ICLN), the Invesco Wilderhill Clean Energy ETF (NYSEARCA: PBW), and the VanEck Low Carbon Energy ETF (NYSE: SMOG).
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