Freedom Broker Turns Cautious on ONEOK (OKE) Despite Higher Price Target

Vardah Gill

Wed, May 20, 2026 at 6:07 AM EDT 2 min read

With a 5-year average revenue growth rate of 32.7%, ONEOK, Inc. (NYSE:OKE) is included among the 11 Best Long Term US Stocks to Buy Right Now.

On May 6, Freedom Broker downgraded ONEOK, Inc. (NYSE:OKE) to Hold from Buy. It raised the price target on the stock to $102 from $100. The firm described the company’s Q1 report as mixed and said the downgrade was tied to valuation concerns.

On May 4, Truist analyst Gabe Daoud raised the firm’s price recommendation on OKE to $93 from $91. The analyst reiterated a Hold rating on the stock. The update came as part of a broader research note covering midstream energy companies after Q1 earnings. The analyst said the quarter benefited from spread optimization, which helped drive stronger financial results and guidance increases. Still, the outlook ahead appears less certain because of commodity price volatility, existing hedges, and expectations that Waha/Katy/HSC spreads could narrow as 4.6Bcf/d of Permian egress capacity is expected to come online. The analyst shared those views in a research note to investors.

ONEOK, Inc. (NYSE:OKE) operates in the midstream energy sector and provides gathering, processing, fractionation, transportation, storage, and marine export services. Its business segments include Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.

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