Rising Gas or Hot Air?

If natural-gas producer ONEOK is in play, as the word on the Street suggests, expect its stock to take a sharp upward turn

Like most utility stocks, ONEOK (OKE ) was on fire last year, surging from $10 a share in early January to $23 by the end of 2000. But since then, the Big Board-listed stock has been in a downspin, tumbling to $16 as of Sept. 10. One factor behind the drop was the steep drop in natural-gas prices. But some pros predict that a turnaround may come soon: They are betting that ONEOK, the largest natural gas utility in Kansas and Oklahoma, may soon find itself in play.

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