Barclays Lowers the PT on ONEOK (OKE), Keeps an Equal Weight

ONEOK, Inc. (NYSE:OKE) is one of the Most Undervalued US Stocks According to Wall Street Analysts. On August 14,  Barclays analyst Theresa Chen lowered the firm’s price target while maintaining an Equal Weight rating on the stock.

The lowered price target comes after the company released its second-quarter results on August 4. The firm noted that the reduced price target reflects the updated models in the midstream and refining group post the second quarter results. During the fiscal second quarter of 2025, ONEOK, Inc. (NYSE:OKE) reported $7.89 billion in revenue, reflecting a 61.16% year-over-year increase; however, it missed estimates by $441.52 million. On the bright side, the EPS of $1.34 exceeded expectations by $0.01.

Management noted witnessing an 11% increase in natural gas liquids feed volumes in the Rocky Mountains Region. Moreover, the CEO, Pierce H. Norton II also highlighted the company’s success to be driven by its integrated business model and steady demand for energy services.

ONEOK, Inc. (NYSE:OKE) is a midstream energy company that provides services such as gathering, processing, fractionation, transportation, storage, and marine export of natural gas, natural gas liquids, refined products, and crude oil.

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Disclosure: None. This article is originally published at Insider Monkey.