Stifel Reaffirms Buy Rating on ONEOK, Inc. (OKE)

ONEOK, Inc. (NYSE:OKE) is one of the 13 best oil and gas storage stocks to buy according to hedge funds.

On February 24, Stifel Nicolaus reiterated its Buy rating on ONEOK, Inc. (NYSE:OKE). The firm lowered the price target from $94 to $91, resulting in an upside potential of more than 8%.

The firm noted that the company’s fourth-quarter results were in line with expectations. However, management’s guidance remains below consensus forecasts with no year-on-year growth expected during the coming year. The firm expects 2026 to be a transition year for the company, followed by the resumption of growth in 2027.

Back on January 27, JPMorgan analyst Jeremy Tonet reduced the price target on ONEOK, Inc. (NYSE:OKE) from $87 to $83. The analyst also downgraded the stock from Overweight to Neutral.

Tonet’s revisions came after the company’s recent quarterly announcements, in which results fell below EBITDA guidance due to soft macroeconomic fundamentals. He suggested that any improvement in investor sentiment going forward will be linked with the strengthening of oil prices.

ONEOK, Inc. (NYSE:OKE) is a midstream energy infrastructure company that is involved in gathering, fractionation, transportation, storage, and marine export services. The company owns and operates processing plants and natural gas pipelines to facilitate the delivery of natural gas, natural gas liquids (NGLs), crude oil, and refined products across markets.

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