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Tickers in this Article: OKS, KMR, WES, NGLS
Regardless of the state of the economy, there will always be stocks reaching new highs. These companies thrive by adapting to the changing needs of their consumers and take the lead while their competitors falter. While overzealous bulls can push a stock into being overvalued, this might not be the case if the company's earnings also grow accordingly. Most importantly, companies that have recently hit a new 52 week high may (in the short run) have the momentum to keep going up and may signal the beginnings of a new long term upward trend.

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The broad range of companies shown in the table below suggests that the bulls are sending stocks from every sector higher. Many investors may want to check into the stocks listed below to see if these momentum plays fit their investing style.

Industry Market Cap
52-Week Range
ONEOK Partners, L.P. (NYSE:OKS) Oil & Gas Pipelines 10.21B $43.05-$51.00
Kinder Morgan Management LLC (NYSE:KMR) Oil & Gas Pipelines 6.76B $54.07-$70.75
Western Gas Partners L.P. (NYSE:WES)
Oil & Gas Pipelines 3.37B $29.01-$37.48
Targa Resources Partners L.P.(NYSE:NGLS) Oil & Gas Pipelines 3.12B $28.83-$36.86

ONEOK Partners, L.P.
This company engages in the gathering, processing, storage and transportation of natural gas in the United States. Trading up 18.6% off its 52 week low with 261,500 shares traded today versus its 3 month daily average of 160,000, this stock seems to have momentum. The more shares traded, the more conviction a stock tends to have in its price movement.

Kinder Morgan Management LLC
KMR operates as an energy transportation and store company in North America. Hitting new highs this company is currently 30.8% off its 52 week low, with 303,100 shares traded today versus its 3 month daily average of 290,573. The higher than average volume could mean KMR will be hitting new highs in the near future.

Western Gas Partners L.P.
WES, together with its subsidiaries, engages in the acquisition, ownership, development and operation of midstream energy assets. Currently up 29.2% off its 52 week low, shares were a little light today at 205,386 traded versus its 3 month daily average of 242,792. It will be interesting to see when volume picks up again if WES will continue to head higher.

Targa Resources L.P.
Targa Resources L.P. provides midstream natural gas and natural gas liquid (NGL) services in the United States. Up over 29.8% over its 52 week low, volume was also a little light today sitting at 189,600 shares versus its 3 month daily average of 255,362. Come Tuesday it will be something to see if Targa can continue its trek higher after hitting a new 52 week high on light volume. (For more on the P/E, see How To Use The P/E Ratio And PEG To Tell A Stock's Future.)

Bottom Line
Four stocks in four different industries at different points in their business cycle. These stocks are hitting highs in their 52-week trading ranges and could cause many investors to take a closer look. With that said, all investors need to look at the businesses, analyze the financials and decide whether these are stocks are ripe for further appreciation or if they have peaked or are otherwise overvalued.

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