Raymond James Reduces PT on ONEOK (OKE) Stock

ONEOK, Inc. (NYSE:OKE) is one of the Best Bargain Stocks to Buy in November. On October 24, Raymond James reduced the price target on the company’s stock to $82 from $100, while keeping an “Outperform” rating, as reported by The Fly. The firm adjusted targets in the midstream suppliers group ahead of the Q3 2025 prints. As per the analyst, midstream has been showing stability for investors, with robust diesel margins, as well as a consensus view that oil markets are oversupplied, pushing the refiners to center of generalist attention in the energy sector.

In a separate release, it was announced that ONEOK, Inc. (NYSE:OKE)’s strategic acquisitions continue to deliver tangible benefits as it continues to make progress on acquisition-related synergies and organic growth. ONEOK, Inc. (NYSE:OKE)’s investments in high-return projects offer operating leverage and position it to capture incremental growth throughout key production regions, including its expanded and enhanced presence in the Permian Basin.

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.”

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Disclosure: None. This article is originally published at Insider Monkey.