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ONEOK maintains Buy rating with upside potential despite recent rally and conservative 2026 EBITDA guidance.

Analyst Insights
13 Apr 2026
Seeking Alpha
View Source
Bullish
pluang ai news

ONEOK remains a Buy despite a recent 20% rally and downgrade from Strong Buy, supported by conservative 2026 EBITDA guidance of $8.1 billion that could improve if oil prices stay strong and macroeconomic challenges ease. The stock's valuation is still attractive, trading below its normalized EV/EBITDA multiple of 12x, with growth driven by internal execution, synergies, new capacity, and demand from LNG and data centers. These factors suggest meaningful upside for investors over the long term.

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