ONEOK Stock Outlook: Is Wall Street Bullish or Bearish?
Valued at $53.1 billion by market cap, Tulsa, Oklahoma-based ONEOK, Inc. (OKE) operates as a leading midstream energy company focused on processing, transportation, and storage of crude, natural gas, and natural gas liquids. The company plays a crucial role in connecting oil & gas producers with end markets across North America.
The midstream giant has notably underperformed the broader market over the past year. OKE stock has gained 7.3% over the past 52 weeks and plunged 13.8% on a YTD basis, compared to the S&P 500 Index’s ($SPX) 12.7% gains over the past year and a marginal 8 bps uptick in 2025.
Narrowing the focus, OKE has also underperformed the industry-focused USCF Midstream Energy Income Fund’s (UMI) 22.3% surge over the past 52 weeks and 1.1% gains on a YTD basis.
ONEOK’s stock prices dropped 6.5% in the trading session after the release of its mixed Q1 results on Apr. 29. Driven by high volumes in the Rocky Mountain region and contributions from recent acquisitions, the company’s overall topline soared 68.2% year-over-year to $8 billion, exceeding the Street’s expectations by a large margin. However, the topline growth failed to translate into bottom-line gains due to increased operating costs. Its net income for the quarter observed a 47 bps dip compared to the year-ago quarter to $636 million, and its EPS of $1.04 missed the consensus estimates by 15.5%, making investors jittery.
For the full fiscal 2025, ending in December, analysts expect ONEOK to deliver a modest 1.4% year-over-year growth in EPS to $5.24. However, the company has a mixed earnings surprise history. While it surpassed the Street’s bottom-line estimates twice over the past four quarters, it missed the projections on two other occasions.
Nevertheless, the stock holds a consensus “Strong Buy” rating overall. Of the 16 analysts covering the OKE stock, opinions include 11 “Strong Buys,” one “Moderate Buy,” and four “Holds.”
This configuration is slightly more bullish than a month ago, when the stock had a consensus “Moderate Buy” overall rating.
On May 1, Stifel analyst Selman Akyol reiterated a “Buy” rating on OKE, but lowered the price target from $110 to $107.
As of writing, OKE’s mean price target of $107.75 represents a 24.6% premium to current price levels, while the street-high target of $133 suggests a staggering 53.7% upside potential.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.