ONEOK completes Medallion deal: Stifel cuts target for ONEOK stock

Published on 10/12/2026 at 11:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ONEOK completed the USD 2.60 billion Medallion deal on October 12, 2026. Stifel cut its target from USD 105 to USD 100 on October 9, 2026.

Key points in brief

ONEOK completed its USD 2.60 billion Medallion Midstream acquisition on October 12, 2026.
Stifel cut its ONEOK price target from USD 105.00 to USD 100.00 on October 9, 2026.
ONEOK stock was last at EUR 80.12 on gettex on October 9, 2026, while market capitalization stood at USD 56.6 billion.
Third-quarter 2026 results are scheduled for October 27, 2026, with a conference call on October 28, 2026.

Fotorealistische Erdgas-Pipeline in weiter Prärielandschaft bei Sonnenuntergang — ONEOK Inc. (ISIN US6826801036) Erdgas-Pipeline durchquert weite Prärielandschaft im goldenen Abendlicht fotorealistisch, Illustration mit AI erstellt.

ONEOK, Inc. completed its USD 2.60 billion acquisition of Medallion Midstream on October 12, 2026, while Stifel cut its price target from USD 105.00 to USD 100.00 on October 9, 2026. AKM reported the acquisition, and Investing.com said Stifel maintained a Hold rating.

Three deals shape the timeline

On August 3, 2026, ONEOK reported second-quarter net income of USD 967.00 million and diluted earnings per share of USD 1.53, according to MarketBeat. On October 6, ONEOK completed the USD 4.425 billion Brazos Midstream acquisition, more than doubling Midland Basin processing capacity to 2.3 billion cubic feet per day, per ONEOK. The Medallion transaction, valued at USD 2.60 billion, is the latest dated deal in the sequence.

What does the deal add?

Medallion brings more than 1,200 miles of crude oil pipelines, transport capacity of 1.30 million barrels per day and storage capacity of 1.50 million barrels, according to AKM. The assets connect with ONEOK's existing oil pipeline network outside the Permian Basin, which gives the transaction an infrastructure rationale beyond the purchase price.

The Brazos deal adds a second scale lever. ONEOK said the acquisition expands Midland Basin processing capacity to 2.30 billion cubic feet per day and is backed by approximately 600,000 dedicated acres under long-term fixed-fee contracts, according to ONEOK. For the stock, the key comparison is between larger contracted infrastructure and the execution demands of integrating several major assets in one year.

Results date sets the next test

ONEOK is scheduled to release third-quarter 2026 results after the market closes on October 27, 2026, followed by a management conference call on October 28, 2026, according to OK Energy Today. The report will provide the first operating update after the Brazos closing and will help investors assess whether the expanded asset base is translating into fee-based earnings.

ONEOK stock stays below its yearly high

ONEOK stock was last at EUR 80.12 on gettex on October 9, 2026 at 6:14 p.m. CEST. The primary NYSE listing showed a 52-week range of USD 64.02 to USD 99.85 and a market capitalization of USD 56.6 billion as of October 9, 2026. The stock therefore remains below its USD 99.85 yearly high while the acquisition program adds measurable capacity and capital commitments.

Market context: Market report S&P 500.