Jefferies raises Oneok stock price target to $97 on strong quarter
Jefferies raised its price target for Oneok Inc (NYSE:OKE) to $97 from $94, citing strong Q3 performance driven by butane blending. The firm increased its 2026 EBITDA estimate above company guidance. Oneok's stock is up 33.5% YTD and 48% over the past year. The company reported Q3 EPS of $2.13, beating estimates of $1.50, and revenue of $10.6B, slightly above forecasts. Oneok raised its full-year outlook for the third time this year.
How this was made
The 30-second read
Why it matters
The analyst upgrade could support short‑term price appreciation, but the Hold rating suggests limited upside without further catalyst.
Market read
Oneok's earnings beat and analyst target raise provide a modest trading opportunity for investors focused on energy infrastructure.
What to watch
Potential downside from regulatory risk to butane blending operations and future M&A execution uncertainty.
Background
Oneok reported Q3 2026 earnings that beat expectations, driven by butane blending and strong EBITDA, prompting an analyst price‑target raise.
Ticker impact
Jefferies raised its price target on Oneok (OKE) to $97 after the company posted a strong Q3 earnings beat.
likely modest upside as the new target sits above current trading levels
The target raise reflects confidence in Oneok's high‑single‑digit growth outlook and strong EBITDA, but the Hold rating tempers expectations.
Market effects
Positive for midstream energy sector as Oneok's performance highlights demand for butane blending and pipeline capacity.
U.S. energy infrastructure investors may see renewed interest.
Limited; primarily U.S. midstream equities.
Counterpoint
The price target may be overly optimistic given Oneok's high valuation near its 52‑week high.
Key entities
- companyOneok Inc.
U.S. midstream energy company (ticker OKE).
- analyst_firmJefferies
Equity research firm that raised the price target.
