ONEOK shares slide as investors weigh Q1 EPS miss, recent downgrade, and profit-taking after the run-up

ONEOK, Inc. (OKE) is down 3.7% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to profit-taking after a strong run, with sentiment still pressured by ONEOK’s recent quarter showing an EPS shortfall versus expectations despite higher earnings and raised full-year guidance. Recent analyst caution on valuation and relative appeal versus other midstream names likely amplified the pullback.

Details:

ONEOK’s Q1 2026 update showed net income rising to $776 million ($1.23 per diluted share) and adjusted EBITDA rising to $2.0 billion, alongside an increase in 2026 net income, EPS, and adjusted EBITDA guidance midpoints.

The same filing noted a noncash impairment charge tied to a joint-venture investment, which reduced reported results and may have contributed to a “mixed” read-through for some investors.

Analyst commentary following the quarter included a downgrade to a more neutral stance and a lower price target, centered on valuation and relative attractiveness versus other liquids-focused midstream peers.

This could also reflect routine mean reversion after the stock recently traded near a fresh 52-week high, prompting incremental selling into strength.

Sources:

U.S. SEC, Investing.com, TipRanks

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

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$OKE Hedge Fund Activity

We have seen 922 institutional investors add shares of $OKE stock to their portfolio, and 659 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL RESEARCH GLOBAL INVESTORS added 6,264,969 shares (+inf%) to their portfolio in Q1 2026, for an estimated $566,290,547
CAPITAL INTERNATIONAL INVESTORS added 5,137,226 shares (+64.4%) to their portfolio in Q1 2026, for an estimated $464,353,858
CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 4,265,890 shares (-18.8%) from their portfolio in Q1 2026, for an estimated $385,593,797
UBS GROUP AG added 3,919,173 shares (+44.6%) to their portfolio in Q1 2026, for an estimated $354,254,047
STATE STREET CORP added 3,123,790 shares (+8.1%) to their portfolio in Q1 2026, for an estimated $282,359,378
DEUTSCHE BANK AG\ added 2,563,035 shares (+61.4%) to their portfolio in Q1 2026, for an estimated $231,672,733
BLACKROCK, INC. added 2,230,014 shares (+3.9%) to their portfolio in Q1 2026, for an estimated $201,570,965

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$OKE Congressional Stock Trading

Members of Congress have traded $OKE stock 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $OKE stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 2 times. They made 1 purchase worth up to $15,000 on 02/10 and 1 sale worth up to $15,000 on 01/09.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$OKE Price Targets

Multiple analysts have issued price targets for $OKE recently. We have seen 11 analysts offer price targets for $OKE in the last 6 months, with a median target of $93.0.

Here are some recent targets:

Jeremy Tonet from JP Morgan set a target price of $92.0 on 05/08/2026
Spiro Dounis from Citigroup set a target price of $97.0 on 05/07/2026
Gabe Daoud from Truist Securities set a target price of $93.0 on 05/04/2026
Michael Blum from Wells Fargo set a target price of $98.0 on 04/30/2026
Brandon Bingham from Scotiabank set a target price of $89.0 on 04/30/2026
Theresa Chen from Barclays set a target price of $90.0 on 04/30/2026
Jason Gabelman from TD Cowen set a target price of $85.0 on 04/30/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.