ONEOK, Inc. (NYSE:OKE) ranks among the undervalued infrastructure stocks to buy now. The pipeline operator has drawn bullish notes from Wall Street, as analysts point to a stronger-than-expected first quarter and an improved 2026 outlook.
On May 27, 2026, BofA raised its price target on ONEOK, Inc. (NYSE:OKE) to $96 from $94 and kept a “Buy” rating on the shares. The midstream group’s results came in broadly better than anticipated, the analyst said, with several names posting beats and raising guidance midpoints in a Q1 earnings recap.
That view followed a May 13, 2026, note from Goldman Sachs, which raised its price target on ONEOK, Inc. (NYSE:OKE) to $88 from $85 while maintaining a “Neutral” rating.
The firm adjusted its estimates after ONEOK, Inc. (NYSE:OKE)’s first quarter topped expectations on optimization benefits and stronger Bakken results. ONEOK management had raised its 2026 EBITDA guidance by 2% to a range of $8.0 billion to $8.5 billion, and Goldman now forecasts $8.516 billion, above the $8.281 billion consensus. The firm also projects a 3% compound annual growth rate in EBITDA from 2025 through 2030.
Earlier in May, Truist analyst Gabe Daoud raised the firm’s price target on ONEOK, Inc. (NYSE:OKE) to $93 from $91 while maintaining a “Hold” rating, citing spread optimization that drove the quarter’s upside, though he flagged commodity price volatility and a possible narrowing of spreads as new Permian pipeline capacity comes online.
ONEOK, Inc. (NYSE:OKE) gathers, fractionates, processes, transports, stores, and markets natural gas. The company’s operations are divided into the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines.
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