ONEOK Inc. stock gains on $9 billion Apollo deal and fresh analyst targets
Published on 09/11/2026 at 15:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
ONEOK Inc. stock (ISIN US6826801036) is trading close to its 52-week high after the energy infrastructure group closed a USD 9 billion minority equity investment with Apollo-managed funds on September 10, 2026, while analysts lifted their price targets and the company reiterated its earnings guidance for fiscal year 2026.
USD 9 billion Apollo investment reshapes ONEOK’s capital structure
According to ONEOK on September 10, 2026, the company closed the previously announced USD 9 billion minority equity investment by funds and affiliates managed by Apollo in a newly formed holding company, ONEOK Holdings, L.L.C., giving Apollo a nonvoting Class B minority interest that is structurally subordinate to ONEOK’s debt.
The structure means Apollo’s USD 9 billion commitment is placed at the holding-company level, which helps ONEOK support growth investments and maintain flexibility in its balance sheet without issuing common equity at the parent company, an important consideration for shareholders who are sensitive to dilution risk.
ONEOK emphasized in its September 10, 2026 release that the minority interest is nonvoting, which preserves existing shareholders’ control over corporate decisions while still allowing the company to access a large pool of capital from Apollo-managed funds for midstream infrastructure projects.
Stock trades near 52-week high as targets move higher
Shares of ONEOK opened at USD 95.74 on the New York Stock Exchange on September 11, 2026, close to the twelve-month high of USD 99.85 and well above the twelve-month low of USD 64.02, highlighting a strong recovery in investor confidence over the past year.
Based on data from MarketBeat as cited by MarketBeat on September 11, 2026, ONEOK has a consensus analyst rating of Hold, with one analyst assigning a Strong Buy rating, six rating the stock Buy and twelve rating it Hold, and a consensus target price of USD 96.62 that sits slightly above the opening price.
According to Investing.com on September 11, 2026, TD Cowen raised its price target on ONEOK shares to USD 93 from USD 90 while maintaining a Hold rating, noting that the stock traded at USD 95.72 at the time of publication, already above the new target and about 4 percent below the 52-week high of USD 99.84.
In the same analyst roundup, Investing.com reports that Truist Securities lifted its price target on ONEOK to USD 104, Wells Fargo increased its target to USD 106, Scotiabank set a new target of USD 95 and UBS maintained a Neutral rating with a USD 108 price target, illustrating a cluster of targets that mostly sit above the current share price and frame expectations for continued value creation from acquisitions and the Apollo financing.
Separately, data highlighted on the Yahoo Finance quote page show that ONEOK shares delivered a year-to-date total return of around 34.5 percent as of September 10, 2026, compared with approximately 10.97 percent for the S&P 500 index over the same period, meaning ONEOK has outperformed the broad U.S. equity benchmark by more than 20 percentage points so far this year.
FY 2026 EPS guidance anchors earnings outlook
According to MarketBeat on September 11, 2026, ONEOK has set its fiscal year 2026 earnings per share guidance at USD 5.680 to USD 5.680, a narrow range that underscores management’s confidence in the company’s cash flow visibility and contracted midstream volumes.
MarketBeat notes that, on average, equities research analysts expect ONEOK to post USD 5.74 in EPS for the current fiscal year 2026, slightly above the company’s own guidance midpoint and indicating that the analyst community broadly sees room for modest upside relative to management’s targets.
For the second quarter of 2026, ONEOK reported operating EPS of USD 1.53, beating the Zacks Consensus Estimate of USD 1.39 by 10.07 percent, as summarized by Zacks in a note dated September 10, 2026.
The earnings beat of USD 0.14 per share in the second quarter of 2026, combined with the reaffirmed full-year 2026 EPS guidance, suggests that ONEOK is tracking ahead of its internal expectations, giving the company more flexibility to fund capital projects and potentially support its dividend policy within the midstream business.
Risks and trading suspension on Vienna exchange
Despite the positive tone around the Apollo financing and analyst target increases, investors must factor in execution risks tied to the Brazos Midland acquisition and the integration of new assets in the Permian Basin, which several analyst houses including Truist Securities and Wells Fargo have highlighted as key drivers of future free cash flow.
In addition to its primary listing on the New York Stock Exchange, ONEOK is also traded on certain European venues, and according to the Vienna Stock Exchange notice dated September 11, 2026, trading in ONEOK’s stock on the Wiener Börse was suspended from 06:02 UTC that day for the instrument identified by ISIN US6826801036, a reminder that venue-specific technical or regulatory issues can temporarily affect liquidity outside the main U.S. market.
ONEOK Inc. stock price and market data
On the last completed U.S. trading day, September 10, 2026, ONEOK stock last traded around USD 95.51 on the New York Stock Exchange, with a previous close of USD 95.82 and an intraday move of approximately minus 0.32 percent, while the shares sat within a 52-week range that spans roughly USD 64 at the low end to just under USD 100 at the high end, underscoring both the recent strength and the volatility in the midstream energy segment.
ONEOK Inc. stock facts
- Company: ONEOK Inc.
- ISIN: US6826801036
- Ticker: OKE
- Trading venue: New York Stock Exchange
- Price (as of September 10, 2026): 95.51 USD
- Market capitalization: 60,340,000,000 USD (as of September 11, 2026)
- Sector / Industry: Energy / Midstream infrastructure
- Index membership: S&P 500
