ONEOK (NYSE:OKE) Upgraded by Freedom Capital to Strong-Buy Rating

Key Points

• Freedom Capital upgraded ONEOK to “strong buy” from “hold,” while broader analyst sentiment remains a “moderate buy,” with an average price target of $91.81.
• ONEOK reported quarterly EPS of $1.53, topping the $1.46 consensus estimate, and revenue of $12.05 billion versus expectations of $8.95 billion.
• Shares opened at $87.82, up 0.7%, while institutional investors continued increasing exposure; institutions and hedge funds now own 69.13% of the stock.

ONEOK (NYSE:OKE - Get Free Report) was upgraded by equities researchers at Freedom Capital from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities analysts also recently issued reports on the company. Morgan Stanley reiterated an "equal weight" rating and set a $103.00 price objective (down from $113.00) on shares of ONEOK in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised their target price on ONEOK from $91.00 to $92.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Raymond James Financial reaffirmed an "outperform" rating and set a $92.00 target price on shares of ONEOK in a research note on Thursday, April 30th. Jefferies Financial Group boosted their price target on ONEOK from $98.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, April 8th. Finally, Weiss Ratings raised ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and an average price target of $91.81.

ONEOK Stock Up 0.7%

OKE stock opened at $87.82 on Wednesday. The stock has a market cap of $55.36 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 4.70 and a beta of 0.73. The firm's 50-day simple moving average is $88.91 and its 200 day simple moving average is $87.05. ONEOK has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 1.34.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The firm had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period in the previous year, the business posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, sell-side analysts predict that ONEOK will post 5.68 EPS for the current year.

Institutional Investors Weigh In On ONEOK

A number of institutional investors have recently added to or reduced their stakes in the company. Capital International Investors bought a new position in shares of ONEOK in the fourth quarter valued at $586,500,000. Norges Bank bought a new stake in shares of ONEOK during the 4th quarter worth $564,867,000. First Eagle Investment Management LLC boosted its stake in shares of ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock worth $835,350,000 after acquiring an additional 3,596,089 shares in the last quarter. Danske Bank A S grew its holdings in shares of ONEOK by 3,538.4% in the 4th quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider's stock worth $124,320,000 after acquiring an additional 1,644,945 shares during the last quarter. Finally, Man Group plc grew its holdings in shares of ONEOK by 292.1% in the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider's stock worth $127,261,000 after acquiring an additional 1,161,352 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK reported second-quarter adjusted earnings of $1.53 per share, ahead of the $1.46 consensus estimate, with revenue of $12.05 billion versus expectations of $8.95 billion. Results also improved from $1.34 per share in the year-ago quarter. Oneok Q2 Earnings: What Key Metrics Have to Say
• Positive Sentiment: Management raised its 2026 adjusted EBITDA guidance to an $8.35 billion midpoint and maintained full-year EPS guidance of $5.68. Record NGL throughput, project start-ups, stronger utilization and commercial wins are expected to support mid- to high-single-digit EBITDA growth. ONEOK Hikes Full-Year Guidance After Record NGL Volumes Drive Earnings Growth
• Positive Sentiment: Zacks characterized ONEOK as a strong value stock, which could appeal to investors seeking valuation support in the energy-infrastructure sector. Why ONEOK Is a Strong Value Stock
• Neutral Sentiment: ONEOK released its annual corporate sustainability report. The disclosure may support transparency and stakeholder confidence, but it does not materially change near-term earnings expectations. ONEOK Releases Annual Corporate Sustainability Report
• Neutral Sentiment: Jefferies reaffirmed a Hold rating, and broader analyst sentiment toward ONEOK remains mixed. This may limit upside from the strong earnings report unless execution and guidance continue to improve. Jefferies Reaffirms Hold Rating on ONEOK

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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