Freedom Capital Upgrades ONEOK (NYSE:OKE) to “Strong-Buy”

ONEOK (NYSE:OKE) was upgraded by investment analysts 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 research firms have also recently weighed in on OKE. Wells Fargo & Company lowered their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Jefferies Financial Group increased their target price on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Scotiabank cut ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Morgan Stanley reiterated an “equal weight” rating and set a $103.00 price target (down from $113.00) on shares of ONEOK in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped their price target on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.81.

ONEOK Stock Performance

Shares of OKE opened at $87.82 on Wednesday. The company has a 50-day moving average of $88.91 and a two-hundred day moving average of $87.05. The stock has a market cap of $55.36 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 4.70 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.56. ONEOK has a one year low of $64.02 and a one year high of $96.07.

ONEOK (NYSE:OKE) last released its quarterly 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. The business had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter in the previous year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities research analysts expect that ONEOK will post 5.68 earnings per share for the current year.

Institutional Investors Weigh In On ONEOK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cura Wealth Advisors LLC boosted its stake in shares of ONEOK by 12.8% during the 2nd quarter. Cura Wealth Advisors LLC now owns 2,558 shares of the utilities provider’s stock valued at $222,000 after buying an additional 290 shares during the period. Simplicity Wealth LLC raised its holdings in shares of ONEOK by 42.4% during the second quarter. Simplicity Wealth LLC now owns 4,594 shares of the utilities provider’s stock worth $399,000 after acquiring an additional 1,367 shares in the last quarter. Trivium Point Advisory LLC boosted its position in ONEOK by 182.1% during the second quarter. Trivium Point Advisory LLC now owns 10,459 shares of the utilities provider’s stock valued at $909,000 after purchasing an additional 6,751 shares during the last quarter. Old West Investment Management LLC purchased a new position in ONEOK in the second quarter valued at about $847,000. Finally, Continuum Advisory LLC increased its position in ONEOK by 22.2% in the 2nd quarter. Continuum Advisory LLC now owns 3,061 shares of the utilities provider’s stock worth $266,000 after purchasing an additional 556 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Key Headlines 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.