ONEOK (NYSE:OKE) Price Target Raised to $106.00 at JPMorgan Chase & Co.

ONEOK (NYSE:OKE) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $95.00 to $106.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.29% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Freedom Capital raised shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Scotiabank reissued a “sector perform” rating on shares of ONEOK in a research note on Tuesday. Barclays reduced their price target on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Morgan Stanley upped their price target on ONEOK from $103.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Truist Financial increased their price objective on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.12.

ONEOK Trading Up 1.4%

Shares of OKE opened at $96.11 on Tuesday. ONEOK has a fifty-two week low of $64.02 and a fifty-two week high of $97.90. The firm has a market cap of $60.58 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 2.64 and a beta of 0.73. The firm has a 50 day moving average price of $91.09 and a 200-day moving average price of $88.84. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping 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 company had revenue of $12.05 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter last year, the company earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities research analysts forecast that ONEOK will post 5.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OKE. Brighton Jones LLC raised its position in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 8,834 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares during the last quarter. Acadian Asset Management LLC bought a new position in ONEOK during the first quarter valued at approximately $216,000. Federated Hermes Inc. lifted its position in ONEOK by 14.0% during the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 383 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in ONEOK by 3.9% in the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after purchasing an additional 4,902 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

More ONEOK News

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK agreed to acquire Brazos Midstream’s Permian Midland Basin natural-gas gathering and processing assets for $4.425 billion in cash. The transaction is expected to more than double ONEOK’s Midland Basin processing capacity, expand its presence in a high-growth region and be immediately accretive to earnings and free cash flow per share. ONEOK to Acquire Brazos Midstream’s Permian Midland Basin Assets
• Positive Sentiment: The acquisition will be supported by a $9 billion nonvoting minority equity investment from Apollo. ONEOK plans to use approximately $5 billion of the proceeds to repay debt, reducing leverage to about 3.25 times debt to EBITDA. Management said the improved balance sheet should enhance flexibility for organic growth, potential dividend increases and share repurchases, while avoiding common-stock issuance. ONEOK’s $4.4 Billion Deal Comes With a $9 Billion Twist
• Positive Sentiment: Management expects the Brazos transaction to support the high end of its mid- to high-single-digit adjusted EBITDA growth target over the next five to seven years. The deal values the assets at roughly 7.5 times estimated 2027 EBITDA, including anticipated synergies, and 6.0 times estimated 2028 EBITDA. OKE Plans to Expand Permian Presence With Brazos Midland Acquisition
• Neutral Sentiment: ONEOK also launched cash tender offers covering up to $2 billion of outstanding notes as part of a broader $5 billion debt-repayment plan. The restructuring should lower interest and refinancing risk, although Apollo’s investment will alter ONEOK’s capital structure and governance arrangements. ONEOK Announces Cash Tender Offers
• Neutral Sentiment: Commentary also highlights ONEOK’s substantial multiyear share-price gains and cash-flow appeal, suggesting the stock remains supported by its midstream business and dividend profile but may no longer be an unambiguously cheap investment at current valuation levels. ONEOK Stock Still Looks Like a Bargain on Cash Flow

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.