TD Cowen Forecasts Strong Price Appreciation for ONEOK (NYSE:OKE) Stock

ONEOK (NYSE:OKE) had its price objective increased by analysts at TD Cowen from $80.00 to $85.00 in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the utilities provider’s stock. TD Cowen’s target price suggests a potential downside of 6.16% from the company’s previous close.

A number of other analysts also recently weighed in on OKE. Truist Financial assumed coverage on ONEOK in a research report on Tuesday, March 24th. They issued a “hold” rating and a $91.00 target price for the company. Scotiabank restated an “outperform” rating on shares of ONEOK in a research report on Monday, April 13th. Wolfe Research downgraded ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. UBS Group dropped their target price on ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Finally, Mizuho set a $89.00 target price on ONEOK in a research report on Monday, February 23rd. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $91.06.

ONEOK Stock Performance

NYSE:OKE opened at $90.58 on Thursday. The business has a 50 day moving average of $87.11 and a 200 day moving average of $78.29. The company has a market capitalization of $57.07 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 7.00 and a beta of 0.78. ONEOK has a 1-year low of $64.02 and a 1-year high of $95.30. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter in the previous year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, sell-side analysts predict that ONEOK will post 5.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ONEOK

Several hedge funds have recently made changes to their positions in OKE. National Pension Service grew its position in shares of ONEOK by 2.9% in the 3rd quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock worth $62,605,000 after buying an additional 24,003 shares during the period. Hudson Edge Investment Partners Inc. grew its position in shares of ONEOK by 34.1% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock worth $6,397,000 after buying an additional 22,282 shares during the period. Nordea Investment Management AB grew its position in shares of ONEOK by 7.5% in the 3rd quarter. Nordea Investment Management AB now owns 777,262 shares of the utilities provider’s stock worth $55,885,000 after buying an additional 54,444 shares during the period. Tectonic Advisors LLC grew its position in shares of ONEOK by 41.1% in the 3rd quarter. Tectonic Advisors LLC now owns 188,842 shares of the utilities provider’s stock worth $13,780,000 after buying an additional 55,024 shares during the period. Finally, Legal & General Group Plc grew its position in shares of ONEOK by 1.6% in the 3rd quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock worth $380,785,000 after buying an additional 80,683 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: Company raised guidance and 2026 outlook — ONEOK announced a 2026 adjusted EBITDA midpoint of $8.25B and raised its net income outlook to $3.5B, signaling stronger forward cash flow and underpinning the stock’s recent strength. ONEOK projects 2026 adjusted EBITDA midpoint of $8.25B as it raises net income outlook to $3.5B
• Positive Sentiment: Management sees momentum continuing — Coverage notes (and company commentary) highlight robust earnings growth, a 4.7% yield and management’s view that Q1 momentum will continue into the year, supporting dividend income investors. This 4.7%-Yielding Energy Stock Reported Robust Earnings Growth and Sees More Growth Coming Down the Pipeline
• Positive Sentiment: Analysts lifting views — Some analysts have issued upgrades and upward revisions to forecasts after Q1 and the guidance raise, boosting near-term sentiment and supporting share price resilience. New Forecasts: Here’s What Analysts Think The Future Holds For ONEOK, Inc. (NYSE:OKE)
• Positive Sentiment: Wells Fargo remains constructive — Wells Fargo trimmed its price target slightly (to $98) but kept an overweight rating, implying continued analyst confidence in longer-term upside. Wells Fargo price target note via Benzinga
• Positive Sentiment: Small upward EPS tweak from an independent analyst — US Capital Advisors nudged FY2027 EPS estimates slightly higher, a modest reaffirmation of earnings power. MarketBeat EPS estimate note
• Neutral Sentiment: Q1 results were mixed — ONEOK reported Q1 EPS below consensus ($1.23 vs. ~$1.30) but adjusted EBITDA rose ~12% year?over?year and management increased guidance, leaving investors weighing earnings miss vs. stronger cash-flow metrics. ONEOK (OKE) Reports First-Quarter EPS of $1.23
• Neutral Sentiment: Analyst model updates are mixed — Brokers and independent services have revised forecasts after Q1, producing both buy-side and hold-side adjustments rather than a consensus directional shift. These Analysts Revise Their Forecasts On ONEOK Following Q1 Results
• Positive Sentiment: Included on lists of attractive infrastructure stocks — Inclusion on several “infrastructure / high upside” lists can attract longer?term institutional and dividend investors. 8 Best Infrastructure Stocks to Buy with Highest Upside Potential
• Negative Sentiment: Scotiabank cut the stock — Scotiabank downgraded ONEOK, saying it’s a less compelling value versus other liquids names, which increases downside pressure from benchmark-focused investors. ONEOK cut at Scotiabank as less compelling value proposition vs other liquids names
• Negative Sentiment: TD Cowen still cautious — TD Cowen lifted its target to $85 but left a “hold” rating, implying limited near?term upside and signaling some investor skepticism; the target sits below recent trade levels. TD Cowen target change via Benzinga/The Fly

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.