ONEOK (NYSE:OKE) Given New $98.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo trimmed its price target on ONEOK to $98.00 (from $100) but kept an "overweight" rating, implying roughly a 9.34% upside from the current share price.
• ONEOK reported Q1 EPS of $1.23 (a miss) while revenue of $9.62 billion beat estimates, and management set FY2026 guidance at 5.53 EPS, which is below street consensus and has created mixed investor reactions.
• Analysts' consensus is an average Hold rating with an average price target of $90.44 (8 Buys, 10 Holds), indicating limited near-term upside versus the stock's roughly $89.63 trading level.

ONEOK (NYSE:OKE - Get Free Report) had its target price cut by equities researchers at Wells Fargo & Company from $100.00 to $98.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's price objective suggests a potential upside of 9.34% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial started coverage on shares of ONEOK in a research report on Tuesday, March 24th. They set a "hold" rating and a $91.00 target price for the company. Barclays set a $90.00 price objective on shares of ONEOK in a research note on Thursday. Jefferies Financial Group lifted their target price on shares of ONEOK from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, April 8th. Royal Bank Of Canada boosted their target price on ONEOK from $79.00 to $84.00 and gave the stock a "sector perform" rating in a report on Thursday, March 19th. Finally, TD Cowen increased their price target on ONEOK from $80.00 to $85.00 and gave the stock a "hold" rating in a research report on Thursday. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $90.44.

ONEOK Trading Up 0.3%

Shares of OKE opened at $89.63 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. The stock has a market cap of $56.47 billion, a PE ratio of 16.51, a PEG ratio of 6.49 and a beta of 0.84. ONEOK has a 1 year low of $64.02 and a 1 year high of $95.30. The stock has a 50 day simple moving average of $87.00 and a 200-day simple moving average of $78.19.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.06). The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.56 billion. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. During the same period in the prior year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, sell-side analysts predict that ONEOK will post 5.65 EPS for the current fiscal year.

Hedge Funds Weigh In On ONEOK

A number of large investors have recently modified their holdings of the stock. Zions Bancorporation National Association UT boosted its position in ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock valued at $25,000 after buying an additional 143 shares during the last quarter. Portus Wealth Advisors LLC bought a new stake in shares of ONEOK during the first quarter worth $33,000. Winnow Wealth LLC bought a new stake in shares of ONEOK during the third quarter worth $28,000. City Holding Co. acquired a new position in shares of ONEOK during the third quarter valued at $28,000. Finally, Elyxium Wealth LLC acquired a new position in shares of ONEOK during the fourth quarter valued at $29,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK News Summary

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: Company-level beat on underlying metrics: adjusted EBITDA rose year-over-year to about $1.997B and management cited higher volumes across NGL, gas processing and pipeline systems, supporting a stronger operating outlook. ONEOK Announces Q1 Results (GlobeNewswire)
• Positive Sentiment: Raised annual guidance (vs prior company guidance): ONEOK increased its 2026 financial guidance after the quarter, citing higher volumes and project progress (including a Permian Basin plant relocation) that underpin medium‑term growth. Reuters: ONEOK raises 2026 profit forecast
• Positive Sentiment: Analyst EPS nudges for out years: US Capital Advisors bumped FY2027 and FY2028 EPS estimates slightly (to ~$6.02 and ~$6.82), reflecting confidence in continuing volume and margin trends. This incremental analyst support helps validate the operational thesis. MarketBeat: ONEOK analyst notes
• Neutral Sentiment: Dividend timing: ONEOK is approaching its ex-dividend date — relevant for income investors who may buy ahead of the record date, but neutral for valuation outside that window. Yahoo: Four Days Left Until ONEOK Trades Ex-Dividend
• Neutral Sentiment: Calls/transcripts available for deeper color: management commentary (earnings call transcripts) confirms operational execution and basin progress; useful for investors wanting details on volume drivers and capex. Earnings call transcript (Seeking Alpha)
• Negative Sentiment: Quarterly EPS and guidance vs. consensus: ONEOK reported quarterly EPS near $1.23 (sources vary) which missed some street estimates, and its FY2026 EPS guide of 5.53 is below the consensus (~5.70). That mix (operational strength but guidance still under consensus) is creating investor caution. MarketBeat: ONEOK Q1 results & guidance
• Negative Sentiment: Analyst price-target action signals limited near-term upside: TD Cowen raised its price target to $85 but kept a "hold" rating; that PT sits below recent market levels, implying limited upside and capping enthusiasm. (Note: firm note reported 4/30/26.)

ONEOK Company Profile

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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