ONEOK stock: RBC raises target from USD 90.00 to USD 96.00

RBC Capital raised its ONEOK target from USD 90.00 to USD 96.00 on October 21, 2026, keeping a Sector Perform rating, as reported by Markets Insider. The new target is 2.24 percent above ONEOK's USD 93.90 closing price on the NYSE on October 22, 2026.

Revenue exceeded expectations

ONEOK generated USD 12.05 billion in revenue during the second quarter of 2026, compared with USD 8.95 billion expected. Adjusted or reported earnings per share reached USD 1.53, above the USD 1.46 consensus estimate, according to MarketBeat.

The revenue figure was also higher than the USD 9.62 billion reported in the first quarter of 2026. Operating profit increased from USD 1.43 billion in the first quarter to USD 1.59 billion in the second quarter, while net income rose from USD 776.00 million to USD 967.00 million.

Stock remains below its high

ONEOK's USD 93.90 NYSE close on October 22, 2026, was 5.96 percent below the 52-week high of USD 99.85 and 46.59 percent above the 52-week low of USD 64.02. The stock's market capitalization was USD 59.2 billion, and its price-to-earnings ratio was 16.19 on that date.

Dividend supports valuation

ONEOK declared a quarterly dividend of USD 1.07 per share on October 14, 2026, equal to an annualized USD 4.28 payout. The latest analyst target changes leave the stock between RBC Capital's USD 96.00 target and higher targets cited by other firms, while the company remains focused on natural gas, natural gas liquids and related infrastructure.

Price and investor perspective

The combination of a USD 96.00 RBC target, second-quarter revenue of USD 12.05 billion and a USD 4.28 annualized dividend gives investors three separate reference points for the stock. The next earnings-related catalyst is the company's third-quarter reporting cycle.

ONEOK stock last stood at USD 93.90 on the NYSE on October 22, 2026 at 4:00 p.m. EDT.