Why is ONEOK (OKE) One of the Most Profitable NYSE Stocks to Invest In?

ONEOK, Inc. (NYSE:OKE) is one of the most profitable NYSE stocks to invest in. ONEOK, Inc. (NYSE:OKE) was upgraded to Overweight from Equal Weight by Wells Fargo on March 25, with the firm lifting the price target on the stock to $100 from $81. The firm believes that the Iran war will create a “structural shift” in global energy markets, including midstream, and will also boost demand for U.S. energy. It further told investors in a research note that it anticipates Permian gas and natural gas liquids supply to accelerate to meet this growing demand, and thus upgraded three names in midstream energy.

In another development, Truist initiated coverage of ONEOK, Inc. (NYSE:OKE) with a Hold rating on March 23, setting a price target of $91. The firm believes that the company stands out as a large-cap, and supported this claim by citing its assets across natural gas liquids, gas pipelines, crude and refined products, with a focus on the Bakken and Mid-Con, while also expanding into the Permian and Haynesville through M&A.

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.

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