ONEOK stock falls 1.20 percent as Brazos deal closes
Published on 10/07/2026 at 15:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
ONEOK (ISIN US30609A1097) was trading at USD 88.16 on the NYSE on October 7, 2026, down 1.20 percent from the prior close. The move follows ONEOK's completion of its USD 4.425 billion acquisition of Brazos Midstream's Permian Midland Basin assets on October 6, 2026, according to ONEOK.
Brazos doubles Midland capacity
The transaction more than doubles ONEOK's Midland Basin processing capacity to 2.3 billion cubic feet per day, including facilities under construction. The acquired system covers 600,000 dedicated acres and carries fixed-fee contracts with remaining terms exceeding 12 years, according to ONEOK.
For investors, the strategic value lies in the combination of scale and fee-based revenue. The acquisition expands ONEOK's natural gas gathering and processing footprint while connecting additional Permian production to its broader infrastructure network.
Second quarter raised the bar
ONEOK reported second-quarter 2026 revenue of USD 12.05 billion and diluted EPS of USD 1.53, which exceeded the USD 1.46 consensus estimate by USD 0.07, according to MarketBeat. Net income rose 13 percent year over year to USD 967 million, while adjusted EBITDA increased 7 percent to USD 2.12 billion in the same quarter, according to Oklahoma Energy Today.
Management raised its 2026 guidance to a USD 3.6 billion midpoint for net income, USD 5.68 for diluted EPS and USD 8.35 billion for adjusted EBITDA. The guidance increase gives the Brazos integration a higher earnings baseline to meet.
Analysts keep a measured view
JPMorgan cut its ONEOK price target from USD 106 to USD 100 while maintaining a neutral rating on October 6, 2026, according to MarketBeat. The broader consensus is Buy from 20 analysts, with an average 12-month target of USD 101.20, a high of USD 112 and a low of USD 89, according to Investing.com. The average target lies 14.8 percent above the USD 88.16 share price.
Results date is already set
ONEOK will release third-quarter 2026 earnings after the market closes on October 27, 2026, followed by a conference call on October 28, 2026, at 11:00 a.m. ET, according to ONEOK. That report will provide the first major test of the enlarged Permian platform and the raised full-year outlook.
ONEOK stock trades below yearly high
ONEOK stock was trading at USD 88.16 on the NYSE at 9:59 a.m. ET on October 7, 2026. Its 52-week range is USD 64.02 to USD 99.85, while market capitalization is USD 55.6 billion.
ONEOK stock facts
- Company: ONEOK, Inc.
- ISIN: US30609A1097
- Ticker: OKE
- Trading venue: NYSE
- Price (as of October 7, 2026, 9:59 a.m. ET): USD 88.16
- Market capitalization: USD 55.6 billion (as of October 7, 2026)
- 52-week range: USD 64.02-99.85 (as of October 7, 2026)
- Sector / Industry: Energy / Oil and Gas Midstream
- Index membership: S&P 500
Upcoming dates for ONEOK stock
- October 27, 2026: Third-quarter 2026 earnings release
- October 28, 2026: Third-quarter 2026 earnings conference call
