ONEOK, Inc. (OKE) Price Target Raised by $5 Following Q4 Report

ONEOK, Inc. (NYSE:OKE) is among the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.

ONEOK, Inc. (NYSE:OKE) is a leading midstream operator that provides gathering, processing, fractionation, transportation, storage, and marine export services. The company transports natural gas, NGLs, refined products, and crude oil through its approximately 60,000-mile pipeline network.

On February 25, Jefferies increased its price target on ONEOK, Inc. (NYSE:OKE) from $80 to $85, while maintaining a ‘Hold’ rating on the shares. However, the analyst highlighted the FY 2026 outlook presented by Oneok in its Q4 report on February 23, which raises ‘fresh questions’ around the company’s inability to grow without commodity tailwinds. Oneok is targeting an adjusted EBITDA midpoint of $8.1 billion for FY 2026, which is flattish from the $8.02 billion it achieved last year, despite $150 million of new synergies. Meanwhile, the company is forecasting its net income for the year to come in at a midpoint of approximately $3.45 billion, compared to the $3.46 billion it hit in 2025.

The weak guidance drove ONEOK, Inc. (NYSE:OKE) to fall by over 5% following the Q4 report, which Jefferies believes ‘appropriately de-risked’ the stock. However, the analyst does not expect the ‘beat and raise’ to drive outperformance, unless it is coupled with a strong base Gathering and Processing (G&P) volume growth.

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