ONEOK stock rises as debt leverage improves after $9 billion deal

Published on 09/22/2026 at 10:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ONEOK stock closed at $93.51 on September 18, 2026, while S&P raised its rating to BBB+. Fiscal 2026 EPS guidance stands at $5.68.

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ONEOK Inc. (ISIN US6826801036) traded at USD 93.51 on the New York Stock Exchange on September 18, 2026, while the company entered a new credit phase after a USD 9 billion minority equity investment. The transaction helped reduce debt and supported an upgrade in credit quality.

Rating rises after capital infusion

According to S&P Global Ratings on September 21, 2026, ONEOK's issuer and senior unsecured ratings rose to BBB+ from BBB after the company closed the USD 9 billion minority equity investment with funds and affiliates managed by Apollo on September 10, 2026.

ONEOK used approximately USD 5 billion of the capital infusion to reduce outstanding debt, according to the same rating action published by S&P Global Ratings. The comparison is material for the balance sheet: the agency expects adjusted debt to EBITDA to remain around 3.0 times as ONEOK integrates Brazos Midstream's Permian Midland Basin assets.

Guidance anchors the valuation

ONEOK's fiscal year 2026 EPS guidance is USD 5.68, while the latest reported fiscal-period figures cited by MarketBeat were USD 33.63 billion in revenue, USD 3.39 billion in net income and USD 5.80 in EPS. Those figures put the guided earnings multiple below the valuation implied by the recent price, a comparison that makes the balance-sheet improvement more important than the headline deal value.

According to Ad-hoc-news on September 21, 2026, the consensus price target stood at USD 96.06. Against the USD 93.51 reference price on September 18, that target was USD 2.55 higher, while the guided fiscal 2026 EPS of USD 5.68 provides the forward earnings benchmark.

Stock holds the 90 dollar level

The latest market snapshot placed ONEOK in the low USD 90 range, with USD 93.51 on September 18, 2026, and another recent quote at USD 93.46. The stock therefore remained close to the USD 96.06 consensus target, leaving the credit upgrade and integration execution as the central measurable variables for the next phase.

ONEOK stock stood at USD 93.51 on the New York Stock Exchange as of September 18, 2026. The price was below the USD 96.06 consensus target reported on September 21, 2026, while fiscal 2026 EPS guidance was USD 5.68.