ONEOK stock falls 1.58 percent with Brazos deal set for Q4 close

Published on 09/25/2026 at 16:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ONEOK agreed on August 30, 2026, to buy Brazos Midstream assets for USD 4.425 billion in cash. Q2 revenue reached USD 12.05 billion and EPS beat consensus.

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ONEOK stock (ISIN US6826801036) traded at USD 89.74 on the NYSE at 2:07 p.m. UTC on September 25, 2026, down 1.58 percent from the USD 91.18 prior close. The central corporate development is a USD 4.425 billion acquisition of Brazos Midstream assets, while second-quarter revenue reached USD 12.05 billion.

Permian deal sets the agenda

According to ONEOK on August 30, 2026, the company agreed to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for USD 4.425 billion in cash. The transaction is expected to close in the fourth quarter of 2026, subject to customary conditions including antitrust clearance.

The same release puts the financing structure at USD 9 billion of nonvoting minority equity from Apollo-managed funds, with USD 5 billion earmarked to reduce existing indebtedness. That combination makes the deal more than an asset expansion: it also changes the balance-sheet path attached to the purchase.

Q2 revenue beats consensus

Yahoo Finance reported that second-quarter 2026 operating revenue was USD 12.05 billion, up 52.8 percent from USD 7.89 billion in the prior-year quarter. Operating EPS was USD 1.53, 10.07 percent above the USD 1.39 consensus estimate and 14.2 percent above USD 1.34 a year earlier.

The earnings comparison gives the acquisition a stronger operating backdrop, but the market is also pricing the transaction against financing and execution requirements. Yahoo Finance listed 2026 guidance of USD 3.41 billion to USD 3.79 billion in net income, USD 5.38 to USD 5.99 in earnings per share and USD 8.20 billion to USD 8.50 billion in adjusted EBITDA.

Analyst target remains above price

Yahoo Finance listed an average analyst target of USD 101.50, against the USD 89.74 intraday price. Its analyst table also showed a target increase from USD 90 to USD 93 dated September 11, 2026, leaving the latest target 3.63 percent above the reference price.

ONEOK stock stays below yearly high

ONEOK stock was USD 89.74 on the NYSE on September 25, 2026, with volume of 143,397 shares. The 52-week range was USD 64.02 to USD 99.85, placing the stock 10.12 percent below its 52-week high.