ONEOK (NYSE:OKE) Trading 4.1% Higher on Analyst Upgrade

Key Points

• Jefferies upgrade: ONEOK shares jumped about 4.1% after Jefferies upgraded the stock to a Buy and set a $98 price target, with the stock trading as high as $91.98 on the move.
• Earnings, guidance and dividend: ONEOK beat quarterly estimates with $1.55 EPS and $9.07B revenue, set FY2026 guidance of $5.04–$5.87 EPS (analysts average ~5.07), and raised its quarterly dividend to $1.07 (about a 4.7% yield).
• Mixed analyst views: Coverage is split—eight Buy vs. nine Hold ratings—leaving a MarketBeat consensus of "Hold" with a $87.53 consensus target and broker price targets roughly ranging from the low $80s up to $104.

ONEOK, Inc. (NYSE:OKE - Get Free Report)'s share price shot up 4.1% on Friday after Jefferies Financial Group upgraded the stock from a hold rating to a buy rating. Jefferies Financial Group now has a $98.00 price target on the stock. ONEOK traded as high as $91.98 and last traded at $92.0140. 3,032,774 shares were traded during trading, a decline of 36% from the average session volume of 4,750,458 shares. The stock had previously closed at $88.39.

A number of other research analysts also recently issued reports on OKE. JPMorgan Chase & Co. downgraded ONEOK from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $87.00 to $83.00 in a research note on Tuesday, January 27th. Wells Fargo & Company boosted their target price on shares of ONEOK from $79.00 to $81.00 and gave the company an "equal weight" rating in a research note on Friday, March 13th. Mizuho set a $89.00 price target on shares of ONEOK in a research note on Monday, February 23rd. Wolfe Research downgraded ONEOK from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, February 25th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $104.00 target price on shares of ONEOK in a research report on Wednesday, January 28th. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, ONEOK currently has a consensus rating of "Hold" and a consensus target price of $87.53.

Institutional Trading of ONEOK

A number of institutional investors have recently added to or reduced their stakes in the business. National Pension Service raised its holdings in ONEOK by 2.9% in the 3rd quarter. National Pension Service now owns 857,949 shares of the utilities provider's stock valued at $62,605,000 after acquiring an additional 24,003 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its stake in shares of ONEOK by 34.1% in the third quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider's stock valued at $6,397,000 after purchasing an additional 22,282 shares in the last quarter. Nordea Investment Management AB lifted its position in ONEOK by 7.5% in the third quarter. Nordea Investment Management AB now owns 777,262 shares of the utilities provider's stock worth $55,885,000 after purchasing an additional 54,444 shares during the period. Tectonic Advisors LLC boosted its stake in ONEOK by 41.1% during the third quarter. Tectonic Advisors LLC now owns 188,842 shares of the utilities provider's stock worth $13,780,000 after buying an additional 55,024 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in ONEOK by 29.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 534,285 shares of the utilities provider's stock valued at $39,401,000 after buying an additional 121,891 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 3.7%

The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. The business's 50 day moving average price is $81.76 and its 200-day moving average price is $75.08. The company has a market cap of $57.73 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 6.56 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.05. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $8.77 billion. During the same quarter in the prior year, the business posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from ONEOK's previous quarterly dividend of $1.03. ONEOK's payout ratio is currently 78.97%.

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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