ONEOK Stock: Is Wall Street Bullish or Bearish?

Company Overview - ONEOK, Inc. (OKE) is a leading U.S. midstream energy company with a market cap of $52.3 billion, focusing on the gathering, processing, storage, and transportation of natural gas and natural gas liquids (NGLs) [1] - The company is headquartered in Tulsa, Oklahoma, and operates an extensive pipeline and infrastructure network across major energy-producing regions, including the Permian, Williston, and Mid-Continent basins [1] Stock Performance - Over the past 52 weeks, OKE shares have declined by 13.2%, underperforming the S&P 500 Index, which has rallied by 15.6% [2] - Year-to-date, OKE shares are up 13.1%, outperforming the S&P 500's gain of 1.7% [2] - Compared to the State Street Energy Select Sector SPDR Fund (XLE), which has risen by 21.1% over the past 52 weeks, OKE has lagged behind [3] Dividend and Financial Outlook - On January 21, ONEOK raised its quarterly dividend by 4% to $1.07 per share, indicating management's confidence in cash flow stability [6] - For FY2025, analysts expect OKE's EPS to rise by 2.7% year over year to $5.31, with a mixed earnings surprise history [7] - Among 20 analysts covering the stock, the consensus rating is a "Moderate Buy," consisting of 10 "Strong Buy" ratings, one "Moderate Buy," and nine "Holds" [7] Analyst Ratings and Price Targets - The current analyst configuration is slightly bearish compared to a month ago, with 11 "Strong Buy" ratings [8] - Jeremy Tonet of JPMorgan Chase downgraded ONEOK to "Neutral" from "Overweight" and lowered the price target to $83 from $87, citing a need for stronger oil prices for improved sentiment [8] - The mean price target of $87 represents a 4.4% premium to OKE's current price levels, while the highest price target of $104 suggests a potential upside of 25.1% [9]