ONEOK Inc. saw its stock price rise by 3.00% as it reached a 20-day high, despite the broader market decline with the Nasdaq-100 down 1.51% and the S&P 500 down 0.81%.
The recent acquisitions of Medallion Midstream and EnLink Midstream for $2.6 billion and $4.3 billion respectively are set to enhance ONEOK's cash flows by $500 million by 2026. Although these acquisitions have increased the company's long-term debt to $32 billion, the expected reduction in capital expenditures and tax deductions will improve cash flow, aiming for an annualized return of 8.5% for investors.
This strategic move positions ONEOK for future growth, leveraging its expanded scale to generate more revenue and improve shareholder returns, despite the challenges posed by its increased debt levels.
Wall Street analysts forecast OKE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OKE is 86.00 USD with a low forecast of 75.00 USD and a high forecast of 110.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
Wall Street analysts forecast OKE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OKE is 86.00 USD with a low forecast of 75.00 USD and a high forecast of 110.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Buy
5 Hold
0 Sell
Moderate Buy
Current: 79.260
Low
75.00
Averages
86.00
High
110.00
Current: 79.260
Low
75.00
Averages
86.00
High
110.00
Morgan Stanley
Robert Kad
Overweight
downgrade
$107 -> $104
2026-01-28
New
Reason
Morgan Stanley
Robert Kad
Price Target
$107 -> $104
AI Analysis
2026-01-28
New
downgrade
Overweight
Reason
Morgan Stanley analyst Robert Kad lowered the firm's price target on Oneok to $104 from $107 and keeps an Overweight rating on the shares. The firm is updating its price targets for North American Midstream & Renewable Energy Infrastructure stocks under its coverage, the analyst tells investors. Morgan Stanley notes the earnings season started with strong results and the energy sector had led performance in the S&P given strength across commodity prices.
JPMorgan
Jeremy Tonet
Overweight -> Neutral
downgrade
$87 -> $83
2026-01-27
New
Reason
JPMorgan
Jeremy Tonet
Price Target
$87 -> $83
2026-01-27
New
downgrade
Overweight -> Neutral
Reason
JPMorgan analyst Jeremy Tonet downgraded Oneok to Neutral from Overweight with a price target of $83, down from $87. The company's recent results have missed its EBITDA guidance amid soft macro fundamentals, the analyst tells investors in a research note. The firm believes improved sentiment on the stock may require improved oil prices. As such, JPMorgan sees better opportunity elsewhere in its coverage universe.
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UBS
Buy
downgrade
$114 -> $103
2026-01-22
Reason
UBS
Price Target
$114 -> $103
2026-01-22
downgrade
Buy
Reason
UBS lowered the firm's price target on Oneok to $103 from $114 and keeps a Buy rating on the shares.
Jefferies
Hold
initiated
$80
2026-01-20
Reason
Jefferies
Price Target
$80
2026-01-20
initiated
Hold
Reason
Jefferies initiated coverage of Oneok with a Hold rating and $80 price target. The Bakken continues to be Oneok's most profitable footprint could be a powerful earnings driver, but weaker crude pricing entering FY26 limits near-term visibility into throughput growth, the analyst tells investors. The firm forecasts about 4% Bakken G&P growth through FY30, but acknowledges downside if WTI remains below $60 per barrel as implied by the current strip.
About OKE
ONEOK, Inc. is a midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. The Company's segments include Natural Gas Gathering and Processing; Natural Gas Liquids; Natural Gas Pipelines, and Refined Products and Crude. The Natural Gas Gathering and Processing segment provides midstream services to producers in the Rocky Mountain region, the Mid-Continent region, the Permian Basin region and the North Texas region. The Natural Gas Liquids segment owns and operates facilities that gather, fractionate, treat and distribute natural gas liquids (NGLs) and store Purity NGLs, primarily in the Rocky Mountain region, Mid-Continent region, Permian Basin and Gulf Coast region (including Louisiana). The Natural Gas Pipelines segment transports, stores and markets natural gas. The Refined Products and Crude segment gathers, transports, stores, distributes, blends and markets refined products and crude oil.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
