May. 20 at 8:42 PM
ONEOK shares pulled back in afternoon trading after hitting a 52-week high of
$96.07 earlier in the session, as investors locked in profits amid ongoing concerns following the company’s latest quarterly results and a notable analyst downgrade. The stock has remained under pressure since missing Q1 2026 EPS expectations, even though management raised full-year guidance. Net income reached
$776M, or
$1.23 per diluted share, with adjusted EBITDA up 13% to
$2.0B, but earnings per share still fell short of consensus.
Scotiabank downgraded ONEOK to “Sector Perform” from “Outperform,” cutting its price target to
$89 from
$92, triggering additional selling pressure as it cited less attractive valuation versus other midstream liquid-focused peers. Jefferies maintained a Buy rating with a
$100 target, while Stifel raised its target to
$99, both pointing to improved guidance, though not enough to offset valuation concerns.
$OKE