Wells Fargo & Company Cuts ONEOK (NYSE:OKE) Price Target to $98.00

ONEOK (NYSE:OKE) had its price objective decreased by stock analysts at Wells Fargo & Company from $100.00 to $98.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.34% from the company’s current price.

OKE has been the topic of a number of other research reports. Truist Financial assumed coverage on ONEOK in a research note on Tuesday, March 24th. They issued a “hold” rating and a $91.00 price target on the stock. TD Cowen lifted their price objective on ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday. Morgan Stanley upped their price objective on ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Jefferies Financial Group raised their target price on ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Finally, Mizuho set a $89.00 target price on ONEOK in a research report on Monday, February 23rd. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.44.

ONEOK Stock Up 0.3%

Shares of NYSE:OKE opened at $89.63 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.71 and a quick ratio of 0.56. The stock has a market cap of $56.47 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 6.49 and a beta of 0.84. The company has a 50 day moving average of $87.00 and a 200-day moving average of $78.19. ONEOK has a one year low of $64.02 and a one year high of $95.30.

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

Institutional Trading of ONEOK

Hedge funds have recently added to or reduced their stakes in the business. Atlas Wealth Partners LLC bought a new position in ONEOK during the first quarter worth about $249,000. CFS Investment Advisory Services LLC bought a new stake in shares of ONEOK in the first quarter worth about $237,000. Penobscot Investment Management Company Inc. raised its position in shares of ONEOK by 1.1% during the first quarter. Penobscot Investment Management Company Inc. now owns 49,772 shares of the utilities provider’s stock worth $4,499,000 after purchasing an additional 525 shares during the period. Axxcess Wealth Management LLC lifted its holdings in shares of ONEOK by 70.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 19,314 shares of the utilities provider’s stock valued at $1,746,000 after purchasing an additional 7,985 shares in the last quarter. Finally, Saxon Interests Inc. bought a new position in shares of ONEOK during the 1st quarter valued at about $269,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Key ONEOK News

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.