Sheryar Siddiq
1 min read
In This Article:
ONEOK, Inc, (NYSE:OKE) is one of the 10 most undervalued oil stocks to buy according to analysts. Brandon Bingham, an analyst at Scotiabank, maintained his Outperform rating on ONEOK, Inc, (NYSE:OKE) on June 5 and reduced his price target from $96 to $93 for the company’s shares.
The analyst informed investors that the firm is extending its target valuation year to 2027 and releasing its forecasts for 2028 for equities in the U.S. Midstream sector. With few triggers on the horizon, Scotiabank still anticipates that units will stay range-bound.
Additionally, NGP XI Midstream Holdings sold the remaining 49.9% stake in the Delaware Basin joint venture (JV) to ONEOK, Inc, (NYSE:OKE) for $940 million on June 4. The agreement, which includes $530 million in cash and $410 million in OKE ordinary stock, establishes ONEOK as the only owner of the joint venture.
With its almost 60,000-mile pipeline network, ONEOK, Inc. (NYSE:OKE) is essential to the transportation of crude oil, natural gas, natural gas liquids (NGLs), and refined products, meeting both domestic and global energy demands.
While we acknowledge the potential of OKE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds
Disclosure: None.
