Oneok (1OKE) AI Stock Analysis

Oneok

(Milan:1OKE)

Rating:―N/A

Action:N/A

Date:―

No summary available

Positive Factors

Raised guidance and durable growth outlookRepeated guidance increases and a stated multi-year EBITDA growth target indicate sustained operating momentum rather than a single-quarter improvement. Broad basin activity, completed projects, and new capacity should support throughput growth and reinforce earnings visibility over the next several years.

Negative Factors

Profitability margins have softenedRevenue growth has not translated fully into prior-period profitability, as net and operating margins have declined. If this pressure persists, weaker incremental earnings conversion could limit cash available for debt reduction, investment, and shareholder returns despite continued top-line expansion.

Oneok (1OKE) vs. iShares MSCI Italy ETF (EWI)

Market Cap: EUR 61.19B
Dividend Yield: 4.25%
Average Volume (3M): 32
Price to Earnings (P/E): 15.0
Beta (1Y): -0.03
Revenue Growth: 31.50%
EPS Growth: 12.83%
Country: Italy
Employees: 6,326
Sector: Energy
Sector Strength: 65
Industry: Oil & Gas Midstream

Oneok Business Overview & Revenue Model

Company Description

ONEOK, Inc., along with its subsidiaries, functions as a leading energy infrastructure company within the United States. Its primary focus is the comprehensive management of natural gas, encompassing gathering, processing, storage, and transportation...

Oneok Earnings Call Summary

Earnings Call Date:Oct 26, 2026(Q3-2026)|% Change Since:1.74%|Next Earnings Date:Feb 28, 2027

Earnings Call SentimentPositive

The call was strongly positive overall. ONEOK reported 6% adjusted EBITDA growth, raised 2026 guidance for the third time, strengthened its balance sheet through a $9 billion minority equity investment and nearly $5.5 billion of debt extinguishment, and described Brazos volumes and assets as exceeding expectations. Growth is supported by strong activity across the Permian, Bakken, Mid-Continent, and Powder River Basin, multiple projects entering service, and new power-generation demand contracts. The main challenges were higher capital expenditures, one-time benefits embedded in reported results, temporary fractionation constraints, expected moderation of the Waha-to-Katy opportunity, and the absence of formal 2027 guidance.

Positive Updates

Strong Third-Quarter Financial Results

Third-quarter net income attributable to ONEOK totaled $1.35 billion, or $2.13 per diluted share. Adjusted EBITDA totaled $2.24 billion, a 6% increase compared with the third quarter of 2025.

Negative Updates

One-Time Benefits in Reported Results

Third-quarter net income and earnings per share included a $336 million one-time noncash income tax benefit related to the corporate reorganization connected with the minority equity transaction. Adjusted EBITDA included a $53 million net benefit from the transactions, primarily related to gains on debt extinguishment.

Company Guidance

ONEOK increased 2026 guidance to a net income midpoint of $4.18 billion and an adjusted EBITDA midpoint of approximately $8.55 billion, with 2026 capital expenditures expected to total approximately $3.5 billion; refined products volumes are expected to finish the year near the top end of the original guidance range, and full year crude gathering volumes are expected to increase approximately 7%. The company reiterated its mid to high single digit adjusted EBITDA growth target for the next 5 to 7 years from its 2025 base, expects approximately 14 rigs on the Brazos Midland dedicated acreage during 2027, and expects 2027 capital expenditures around that $33 billion ish give or take, then between 2.5 to 3 billion going forward. ONEOK is not providing 2027 guidance today and expects to do so after fourth quarter results in February; its debt-to-EBITDA target going forward is approximately 3.25x or lower, with 3.5x as the upper end of its targeted leverage range, and it expects to go below 3x within the next few years.

Oneok Risk Analysis

Oneok disclosed 15 risk factors in its most recent earnings report. Oneok reported the most risks in the "Finance & Corporate" category.

Finance & Corporate11
Production3
Ability to Sell1

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

0 New Risks

Oneok Peers Comparison

Overall Rating

UnderperformOutperform

Sector (65)

Financial Indicators

IT:1OKE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MPLX	85Outperform	$60.99B	12.91	33.42%	7.16%	4.79%	10.20%
ET	82Outperform	$72.00B	12.57	16.77%	6.43%	33.27%	12.55%
TRGP	78Outperform	$67.54B	29.91	72.08%	1.51%	-0.83%	49.90%
WMB	73Outperform	$90.94B	29.50	23.86%	2.79%	8.70%	26.28%
EPD	72Outperform	$82.38B	12.67	22.21%	5.82%	22.19%	―
Sector *	65Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

* Energy Sector Average

Performance Comparison

IT:1OKE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IT:1OKE	Oneok Inc	86.16	32.32	60.02%
ET	Energy Transfer Equity	20.91	5.25	33.54%
EPD	Enterprise Products Partners	38.15	9.36	32.53%
TRGP	Targa Resources Corp.	314.99	161.79	105.60%
WMB	Williams Companies	74.35	17.06	29.79%
MPLX	MPLX LP	60.16	13.12	27.88%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Oneok AI Stock Analysis