ONEOK (NYSE:OKE) Stock Rating Upgraded by Wells Fargo & Company

ONEOK (NYSE:OKE) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $100.00 target price on the utilities provider’s stock, up from their previous target price of $81.00. Wells Fargo & Company‘s price target points to a potential upside of 6.72% from the stock’s previous close.

OKE has been the subject of several other reports. Royal Bank Of Canada boosted their price target on ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 19th. UBS Group dropped their price objective on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Mizuho set a $89.00 target price on ONEOK in a research note on Monday, February 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 target price on shares of ONEOK in a report on Wednesday, January 28th. Finally, Scotiabank reissued an “outperform” rating and set a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.94.

ONEOK Stock Performance

Shares of OKE stock opened at $93.71 on Wednesday. The firm has a market cap of $59.01 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 6.99 and a beta of 0.93. The company’s 50 day moving average is $83.51 and its 200 day moving average is $75.67. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. ONEOK has a 52-week low of $64.02 and a 52-week high of $101.27.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital International Investors purchased a new stake in shares of ONEOK during the fourth quarter worth about $586,500,000. Norges Bank purchased a new position in shares of ONEOK in the 4th quarter valued at approximately $564,867,000. First Eagle Investment Management LLC raised its position in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after purchasing an additional 3,596,089 shares during the last quarter. Boston Partners boosted its stake in ONEOK by 53.7% in the 2nd quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock worth $448,476,000 after purchasing an additional 1,924,864 shares in the last quarter. Finally, Danske Bank A S grew its position in ONEOK by 3,538.4% during the 4th quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock worth $124,320,000 after purchasing an additional 1,644,945 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Key ONEOK News

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: Wells Fargo upgraded ONEOK to Overweight and raised its price target to $100 (from $81), giving the stock fresh upside implied by a higher target and signaling stronger conviction in near‑term growth prospects. Wall Street Raises ONEOK Price Target to $100
• Positive Sentiment: Broker research (Wells Fargo, Jefferies) highlighted ONEOK’s Eiger Express pipeline expansion and the Bighorn processing plant as tangible volume-capture catalysts from the Permian, reframing ONEOK’s midstream role and supporting expectations for higher throughput and fee revenue. Is ONEOK (OKE) Quietly Reframing Its Midstream Role With The Eiger Express Expansion?
• Positive Sentiment: Geopolitical developments that boost U.S. LPG export demand prompted analysts to lift coverage for LPG-linked names including ONEOK—an external demand tailwind that could increase utilization and revenues for its NGL/pipeline assets. Enterprise Products, ONEOK raised at Wells Fargo as war boost seen for US LPG exporters
• Positive Sentiment: Recent quarterly results beat consensus (EPS beat and strong revenue) and ONEOK’s FY2026 EPS guidance (5.04–5.87) provide fundamental support for higher valuations and help explain analyst optimism.
• Neutral Sentiment: Truist initiated coverage of ONEOK with a Hold recommendation — this brings additional institutional coverage but signals limited near-term conviction from Truist compared with recent buy-side upgrades. Truist Financial Initiates Coverage on ONEOK (NYSE:OKE)
• Neutral Sentiment: Brokers published Q1 earnings predictions for ONEOK; analysts are parsing volumes and NGL spreads but there are no consensus adjustments large enough yet to change near-term guidance. Brokers Offer Predictions for ONEOK’s Q1 Earnings (NYSE:OKE)
• Neutral Sentiment: ONEOK announced the retirement of two board members effective May 20 (routine director retirements under policy/election), a governance update that is not expected to materially affect operations. ONEOK Announces Board Transitions
• Neutral Sentiment: Market commentary noted OKE’s run (~+9.7% since the last earnings report) and discussed whether momentum is sustainable; this is a mixed signal—positive momentum but raises questions about near-term upside left to capture. Oneok (OKE) Up 9.7% Since Last Earnings Report: Can It Continue?

About ONEOK

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.