ONEOK (NYSE:OKE) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded ONEOK (NYSE: OKE) from a "hold" to a sell rating in a recent research report.
• Analyst opinions are mixed — several brokers have revised targets and ratings in both directions, but the MarketBeat consensus remains a Hold with a $91.06 average target price.
• ONEOK's Q1 was mixed: it missed EPS ($1.23 vs. ~$1.30) but beat on revenue and raised forward guidance, including a 2026 adjusted EBITDA midpoint of $8.25B, a $3.5B net income outlook, and FY2026 EPS guidance of 5.53.

ONEOK (NYSE:OKE - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Several other analysts have also recently commented on the company. Mizuho set a $89.00 target price on ONEOK in a report on Monday, February 23rd. Wolfe Research cut ONEOK from an "outperform" rating to a "peer perform" rating in a report on Wednesday, February 25th. Royal Bank Of Canada upped their target price on ONEOK from $79.00 to $84.00 and gave the company a "sector perform" rating in a report on Thursday, March 19th. Barclays upped their target price on ONEOK from $82.00 to $90.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, JPMorgan Chase & Co. cut ONEOK from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $91.06.

ONEOK Stock Performance

NYSE:OKE opened at $90.58 on Friday. The stock's 50-day moving average is $87.11 and its 200-day moving average is $78.29. ONEOK has a 1-year low of $64.02 and a 1-year high of $95.30. The stock has a market cap of $57.07 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 7.00 and a beta of 0.78. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities research analysts anticipate that ONEOK will post 5.53 earnings per share for the current year.

Hedge Funds Weigh In On ONEOK

A number of institutional investors have recently modified their holdings of OKE. Vanguard Group Inc. raised its position in ONEOK by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider's stock valued at $5,703,845,000 after buying an additional 380,744 shares during the last quarter. State Street Corp raised its position in ONEOK by 1.7% in the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider's stock valued at $2,826,118,000 after buying an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in ONEOK by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider's stock valued at $1,663,637,000 after buying an additional 599,248 shares during the last quarter. Geode Capital Management LLC raised its position in ONEOK by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider's stock valued at $1,215,107,000 after buying an additional 518,746 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock valued at $835,350,000 after buying an additional 3,596,089 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: Company raised guidance and 2026 outlook — ONEOK announced a 2026 adjusted EBITDA midpoint of $8.25B and raised its net income outlook to $3.5B, signaling stronger forward cash flow and underpinning the stock’s recent strength. ONEOK projects 2026 adjusted EBITDA midpoint of $8.25B as it raises net income outlook to $3.5B
• Positive Sentiment: Management sees momentum continuing — Coverage notes (and company commentary) highlight robust earnings growth, a 4.7% yield and management’s view that Q1 momentum will continue into the year, supporting dividend income investors. This 4.7%-Yielding Energy Stock Reported Robust Earnings Growth and Sees More Growth Coming Down the Pipeline
• Positive Sentiment: Analysts lifting views — Some analysts have issued upgrades and upward revisions to forecasts after Q1 and the guidance raise, boosting near-term sentiment and supporting share price resilience. New Forecasts: Here's What Analysts Think The Future Holds For ONEOK, Inc. NYSE: OKE
• Positive Sentiment: Wells Fargo remains constructive — Wells Fargo trimmed its price target slightly (to $98) but kept an overweight rating, implying continued analyst confidence in longer-term upside. Wells Fargo price target note via Benzinga
• Positive Sentiment: Small upward EPS tweak from an independent analyst — US Capital Advisors nudged FY2027 EPS estimates slightly higher, a modest reaffirmation of earnings power. MarketBeat EPS estimate note
• Neutral Sentiment: Q1 results were mixed — ONEOK reported Q1 EPS below consensus ($1.23 vs. ~$1.30) but adjusted EBITDA rose ~12% year‑over‑year and management increased guidance, leaving investors weighing earnings miss vs. stronger cash-flow metrics. ONEOK (OKE) Reports First-Quarter EPS of $1.23
• Neutral Sentiment: Analyst model updates are mixed — Brokers and independent services have revised forecasts after Q1, producing both buy-side and hold-side adjustments rather than a consensus directional shift. These Analysts Revise Their Forecasts On ONEOK Following Q1 Results
• Positive Sentiment: Included on lists of attractive infrastructure stocks — Inclusion on several “infrastructure / high upside” lists can attract longer‑term institutional and dividend investors. 8 Best Infrastructure Stocks to Buy with Highest Upside Potential
• Negative Sentiment: Scotiabank cut the stock — Scotiabank downgraded ONEOK, saying it’s a less compelling value versus other liquids names, which increases downside pressure from benchmark-focused investors. ONEOK cut at Scotiabank as less compelling value proposition vs other liquids names
• Negative Sentiment: TD Cowen still cautious — TD Cowen lifted its target to $85 but left a “hold” rating, implying limited near‑term upside and signaling some investor skepticism; the target sits below recent trade levels. TD Cowen target change via Benzinga/The Fly

About ONEOK

ONEOK, Inc NYSE: OKE is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK's asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

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