12 Best Beaten Down Stocks to Buy According to Hedge Funds

10. ONEOK, Inc. (NYSE:OKE)

Number of Hedge Fund Holders: 44

52-Week Low: $69.05

Stock Price: $69.58

ONEOK, Inc. (NYSE:OKE) is one of the Best Beaten Down Stocks to Buy According to Hedge Funds. On October 9, Robert Kad, an analyst from Morgan Stanley, maintained a “Buy” rating on the company’s stock, while the associated price target remained same at $110.00. The analyst’s rating is backed by a combination of factors demonstrating ONEOK, Inc. (NYSE:OKE)’s potential for healthy performance within the midstream sector. Despite the negative skew in oil macro risks, the analyst believes there is a dislocation in ONEOK, Inc. (NYSE:OKE)’s valuation relative to its fundamentals. This demonstrates that the company and its peers are expected to lead the sector’s performance by 2026.

Also, the positive investor sentiment towards ONEOK, Inc. (NYSE:OKE)’s current valuation, cash flow resilience, and management’s proven execution track record backs the analyst’s rating.  As per the analyst, the company’s strategic emphasis on counter-cyclical share repurchases over accelerated deleveraging is regarded as the favorable approach.

ClearBridge Investments, an investment management company, released its Q2 2025 investor letter. Here is what the fund said:

“U.S. energy infrastructure company ONEOK, Inc. (NYSE:OKE) and Canadian energy infrastructure company Pembina Pipeline were the largest detractors. ONEOK is one of the largest diversified energy infrastructure companies in the U.S., owning and operating an extensive network of natural gas liquids (NGL), natural gas, refined products and crude oil assets. Underperformance for the quarter was primarily driven by the OPEC+ decision to increase production and accelerate the unwinding of voluntary cuts, which ultimately led to further softening of the oil price outlook.”