Cramer Endorsed ONEOK as it Completes $3 Billion Public Offering

ONEOK, Inc. (NYSE:OKE) is one of the Jim Cramer’s Recession-Proof Stock Picks.

Cramer assigns a Buy rating to the stock amid the completion of a $3 billion public offering.

On August 12, 2025, ONEOK, Inc. (NYSE:OKE) announced the completion of its $3 billion public offering. The company intends to use the proceeds to meet its outstanding commercial paper obligations and senior notes due in September 2025. Following the completion, the stock receives mixed opinions. Bank of America, for instance, lowered the stock’s price target from $109 to $100 while maintaining a Buy rating on the stock.

The stock’s monthly performance also saw a decline of -1.33%. However, Jim Cramer remains confident in the stock and assigns a Buy when addressing a caller’s question in the lightning round.

“Absolutely. Walter Hulse, CFO there is doing an amazing job. So is Pierce Norton. I think that’s a buy. I can’t believe it’s this low.”

Insider Monkey database noted 44 hedge funds holding ownership stakes in ONEOK, Inc. (NYSE:OKE), signaling strong institutional interest.

Founded as the Oklahoma Natural Gas Company in 1906, ONEOK, Inc. (NYSE:OKE) currently runs its operations from Oklahoma. Leader in North American energy infrastructure, the company operates an extensive network of pipelines and assets for NGLs, refined products, and crude oil.

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