Wolfe Research Downgrades ONEOK (NYSE:OKE) to Peer Perform

Analysts cite concerns over price target and rating changes for the midstream energy company.

Feb. 27, 2026 at 7:48am

ONEOK (NYSE:OKE), a midstream energy company based in Tulsa, Oklahoma, has been downgraded by research analysts at Wolfe Research from an 'outperform' rating to a 'peer perform' rating. Several other analysts have also recently weighed in on the stock, with some decreasing their price targets.

Why it matters

ONEOK is a major player in the natural gas and natural gas liquids (NGL) pipeline and processing industry. Downgrades and price target changes from influential analysts can impact investor sentiment and the company's stock price, which is an important indicator of its financial health and future prospects.

The details

Wolfe Research cited the downgrade in a research note issued on Wednesday. Other analysts, including those from UBS Group and The Goldman Sachs Group, have also recently decreased their price targets for ONEOK shares. The company's stock has traded in the range of $64.02 to $103.64 over the past year.

  • ONEOK was downgraded by Wolfe Research on Wednesday, February 27, 2026.
  • UBS Group decreased its price target on ONEOK shares to $103.00 from $114.00 on January 22, 2026.
  • The Goldman Sachs Group reissued a 'neutral' rating and set a $72.00 price target on ONEOK shares on November 3, 2025.

The players

Wolfe Research

A research firm that provides investment research and analysis to institutional investors.

ONEOK

A publicly traded midstream energy company headquartered in Tulsa, Oklahoma that owns and operates natural gas and natural gas liquids pipelines, processing facilities, fractionators, and storage and terminal assets.

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What they’re saying

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— Robert Jenkins, San Francisco resident

The takeaway

The downgrade of ONEOK by Wolfe Research highlights the volatility and uncertainty in the midstream energy sector, as analysts adjust their views on companies based on changing market conditions and industry dynamics. Investors will be closely watching ONEOK's performance and any further analyst actions in the coming months.