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ONEOK, Inc. (NYSE:OKE) ranks among the undervalued infrastructure stocks to buy now. The pipeline operator has drawn bullish notes from Wall Street, as analysts point to a stronger-than-expected first quarter and an improved 2026 outlook.

On May 27, 2026, BofA raised its price target on ONEOK, Inc. (NYSE:OKE) to $96 from $94 and kept a “Buy” rating on the shares. The midstream group’s results came in broadly better than anticipated, the analyst said, with several names posting beats and raising guidance midpoints in a Q1 earnings recap.

That view followed a May 13, 2026, note from Goldman Sachs, which raised its price target on ONEOK, Inc. (NYSE:OKE) to $88 from $85 while maintaining a “Neutral” rating.

The firm adjusted its estimates after ONEOK, Inc. (NYSE:OKE)’s first quarter topped expectations on optimization benefits and stronger Bakken results. ONEOK management had raised its 2026 EBITDA guidance by 2% to a range of $8.0 billion to $8.5 billion, and Goldman now forecasts $8.516 billion, above the $8.281 billion consensus. The firm also projects a 3% compound annual growth rate in EBITDA from 2025 through 2030.

Earlier in May, Truist analyst Gabe Daoud raised the firm’s price target on ONEOK, Inc. (NYSE:OKE) to $93 from $91 while maintaining a “Hold” rating, citing spread optimization that drove the quarter’s upside, though he flagged commodity price volatility and a possible narrowing of spreads as new Permian pipeline capacity comes online.

ONEOK, Inc. (NYSE:OKE) gathers, fractionates, processes, transports, stores, and markets natural gas. The company’s operations are divided into the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines.

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.

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