ONEOK, Inc, (NYSE:OKE) has recently been highlighted as one of the 10 most undervalued oil stocks to buy according to analysts. Brandon Bingham, an analyst at Scotiabank, has maintained an Outperform rating on ONEOK, Inc, (NYSE:OKE) and adjusted his price target from $96 to $93 for the company’s shares. The firm is extending its target valuation year to 2027 and releasing its forecasts for 2028 for equities in the U.S. Midstream sector. Despite few triggers on the horizon, Scotiabank anticipates that units will remain range-bound.
In a significant development, NGP XI Midstream Holdings sold the remaining 49.9% stake in the Delaware Basin joint venture to ONEOK, Inc, (NYSE:OKE) for $940 million. This deal, which includes $530 million in cash and $410 million in OKE ordinary stock, solidifies ONEOK as the sole owner of the joint venture. With its extensive 60,000-mile pipeline network, ONEOK, Inc. (NYSE:OKE) plays a crucial role in the transportation of crude oil, natural gas, natural gas liquids (NGLs), and refined products, catering to both domestic and global energy demands.
While ONEOK, Inc, (NYSE:OKE) presents itself as a promising investment opportunity, there are other AI stocks that offer greater upside potential and carry less downside risk. For investors seeking an undervalued AI stock with significant growth potential, it’s worth exploring our free report on the best short-term AI stock.
For more insights and investment opportunities, check out our articles on the 10 Best Magic Formula Stocks for 2025 and the 10 Best Retirement Stocks to Buy According to Hedge Funds. Disclosure: None.
