ONEOK upgraded to buy after strong Q3 and Brazos Midstream acquisition, with 2027 EBITDA forecast at $9.2B

ONEOK, Inc. has been upgraded to a buy rating following its acquisition of Brazos Midstream Permian Basin and strong third-quarter results. The company's diversified midstream portfolio and strategic acquisition are expected to drive EBITDA growth, with a projection of $9.2 billion by 2027. The $9 billion minority equity investment supports asset acquisition and debt reduction but limits full shareholder cash flow access. A fair value of $109 per share is assigned, though accelerated dividend growth is needed to maintain this valuation.

ONEOK shares trade at USD 93.58 on Pluang as of Nov 03, 2026 19:51 WIB, up 1.15% for the day. The stock holds a dividend yield of 4.63% and a market cap of $58.33 billion. Pluang investors show full buying interest with 100% buy orders and no sells.