Oneok (OKE) AI Stock Analysis

• Market Cap: $42.32B
• Dividend Yield: 6.07%
• Average Volume (3M): 3.77M
• Price to Earnings (P/E): 12.7
• Beta (1Y): 0.82
• Revenue Growth: 58.76%
• EPS Growth: 13.74%
• Country: US
• Employees: 5,177
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Midstream
• EPS (TTM): 1.49
• Shares Outstanding: 629,756,000
• 10 Day Avg. Volume: 3,533,437
• 30 Day Avg. Volume: 3,771,736
• PEG Ratio: -3.55
• Price to Book (P/B): 3.46
• Price to Sales (P/S): 2.72
• P/FCF Ratio: 20.54
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $87.58
• Price Target Upside: 30.33% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 12

• Rating: 74 Outperform
• Price Target: $77.00 ▲(14.58% Upside)

Oneok's strong financial performance and attractive valuation are key strengths, supported by a positive earnings call. However, technical indicators suggest bearish momentum, which tempers the overall score.

Positive Factors

Revenue Growth

Sustained revenue growth indicates robust demand for Oneok's services, enhancing its market position and supporting long-term financial health.

Successful Integration of Acquired Assets

Effective integration of acquisitions boosts operational efficiency and profitability, strengthening Oneok's competitive advantage in the midstream sector.

Financial Flexibility

Proactive debt management and share repurchases reflect strong financial discipline, enhancing shareholder value and reducing leverage risks.

Negative Factors

High Leverage

High leverage can limit financial flexibility and pose risks in volatile market conditions, potentially impacting long-term stability.

Margin Pressure

Declining margins suggest rising costs or pricing pressures, which could erode profitability if not addressed, affecting long-term financial performance.

Operational Challenges

Operational disruptions can lead to revenue loss and increased costs, highlighting the need for robust risk management to maintain operational stability.

Oneok Business Overview & Revenue Model

Company Description

ONEOK, Inc., together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions. It also gathers, treats, fractionates, and transports natural gas liquids (NGL), as well as stores, markets, and distributes NGL products. The company owns NGL gathering and distribution pipelines in Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado; terminal and storage facilities in Kansas, Missouri, Nebraska, Iowa, and Illinois; and NGL distribution and refined petroleum products pipelines in Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana, as well as owns and operates truck- and rail-loading, and -unloading facilities connected to NGL fractionation, storage, and pipeline assets. In addition, it operates regulated interstate and intrastate natural gas transmission pipelines and natural gas storage facilities. Further, the company owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space. It operates 17,500 miles of natural gas gathering pipelines; 1,500 miles of FERC-regulated interstate natural gas pipelines; 5,100 miles of state-regulated intrastate transmission pipeline; six NGL storage facilities; and eight NGL product terminals. It serves integrated and independent exploration and production companies; NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; propane distributors; municipalities; ethanol producers; and petrochemical, refining, and NGL marketing companies, as well as natural gas distribution and electric generation companies, producers, processors, and marketing companies. The company was founded in 1906 and is headquartered in Tulsa, Oklahoma.

How the Company Makes Money

Oneok generates revenue primarily through fee-based contracts for its midstream services, including gathering, processing, and transportation of natural gas and NGLs. The company operates a network of pipelines and processing facilities that allow it to collect fees for transporting and storing hydrocarbons. Key revenue streams include gathering and processing fees from producers, transportation fees from shippers, and NGL sales. Additionally, Oneok benefits from long-term contracts with producers, which provide stable cash flows. Significant partnerships with exploration and production companies further enhance its revenue potential by ensuring consistent demand for its services.

Oneok Financial Statement Overview

Summary

Oneok demonstrates strong revenue growth and profitability, though there are pressures on margins. The balance sheet shows high leverage, which could pose risks if not managed carefully. Cash flow generation remains solid, supporting the company's financial stability.

Income Statement

Oneok's income statement shows strong revenue growth with a TTM increase of 11.99%. The company maintains solid profitability with a gross profit margin of 26.58% and a net profit margin of 11.07%. However, there is a slight decline in margins compared to the previous year, indicating some pressure on profitability.

Balance Sheet

The balance sheet reflects a high debt-to-equity ratio of 1.49, indicating significant leverage. However, the company has improved its equity position, and the return on equity remains robust at 16.04%, showcasing effective use of equity to generate profits.

Cash Flow

Cash flow analysis reveals a decrease in free cash flow growth by 6.20% TTM, but the company maintains a healthy operating cash flow to net income ratio of 0.79. The free cash flow to net income ratio of 0.54 suggests adequate cash generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	27.95B	21.64B	17.68B	22.87B	17.27B	8.46B
Gross Profit	6.26B	5.05B	5.75B	3.12B	3.02B	2.03B
EBITDA	7.26B	6.59B	5.11B	3.52B	3.30B	2.00B
Net Income	3.09B	3.04B	2.66B	1.72B	1.50B	612.81M
Balance Sheet
Total Assets	64.52B	64.07B	44.27B	24.38B	23.62B	23.08B
Cash, Cash Equivalents and Short-Term Investments	97.00M	733.00M	338.00M	220.00M	146.39M	524.50M
Total Debt	32.47B	32.29B	21.76B	13.70B	13.73B	14.34B
Total Liabilities	42.62B	41.94B	27.78B	17.89B	17.61B	17.04B
Stockholders Equity	21.83B	17.04B	16.48B	6.49B	6.02B	6.04B
Cash Flow
Free Cash Flow	2.88B	2.87B	2.83B	1.70B	1.85B	-296.31M
Operating Cash Flow	5.29B	4.89B	4.42B	2.91B	2.55B	1.90B
Investing Cash Flow	-6.79B	-6.61B	-6.40B	-1.14B	-665.29M	-2.27B
Financing Cash Flow	1.56B	2.12B	2.10B	-1.69B	-2.26B	875.00M

Oneok Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 67.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OKE, the sentiment is Negative. The current price of 67.2 is below the 20-day moving average (MA) of 69.88, below the 50-day MA of 72.05, and below the 200-day MA of 82.62, indicating a bearish trend. The MACD of -1.17 indicates Positive momentum. The RSI at 33.50 is Neutral, neither overbought nor oversold. The STOCH value of 42.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OKE.

Oneok Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MPLX	―	$51.74B	12.05	31.38%	7.54%	4.67%	2.07%
EPD	―	$67.38B	11.66	20.43%	6.88%	-0.55%	2.14%
OKE	―	$42.32B	12.70	17.14%	6.07%	58.76%	13.74%
KMI	―	$57.62B	21.38	8.87%	4.21%	8.54%	7.22%
TRGP	―	$32.58B	21.84	60.30%	2.29%	5.88%	46.35%
WMB	―	$69.58B	29.06	19.64%	3.43%	10.57%	-14.22%
Sector *	―	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Oneok Corporate Events

ONEOK Inc. Reports Strong Q3 2025 Earnings Growth

ONEOK Inc. is a leading midstream energy company headquartered in Tulsa, Oklahoma, specializing in the gathering, processing, storage, and transportation of natural gas and natural gas liquids (NGLs) across North America. As one of the largest integrated energy infrastructure companies, ONEOK plays a crucial role in meeting domestic and international energy demands.

ONEOK Reports Strong Q3 2025 Earnings Growth

On October 28, 2025, ONEOK, Inc. reported higher earnings for the third quarter of 2025 compared to the same period in 2024, with net income reaching $940 million and adjusted EBITDA at $2.12 billion. The company highlighted a 17% increase in Rocky Mountain region NGL raw feed throughput volumes and a 6% rise in the Mid-Continent region. The results were driven by the successful integration of acquisitions and increased production across its operational basins, positioning ONEOK for long-term value creation for stakeholders.

The most recent analyst rating on (OKE) stock is a Buy with a $82.00 price target. To see the full list of analyst forecasts on Oneok stock, see the OKE Stock Forecast page.

ONEOK Completes $3 Billion Public Offering

On August 12, 2025, ONEOK, Inc. completed a significant public offering of notes totaling $3 billion, with the proceeds intended to repay outstanding commercial paper and senior notes due in September 2025. This strategic financial move is expected to strengthen ONEOK’s financial position and provide flexibility for general corporate purposes, potentially impacting its operations and market positioning positively.

The most recent analyst rating on (OKE) stock is a Hold with a $97.00 price target. To see the full list of analyst forecasts on Oneok stock, see the OKE Stock Forecast page.

ONEOK Announces $3 Billion Senior Notes Offering

On August 6, 2025, ONEOK, Inc. announced the pricing of a $3.0 billion senior notes offering, which includes $750 million of 7-year notes, $1.0 billion of 10-year notes, and $1.25 billion of 30-year notes. The proceeds from this offering are intended to repay outstanding commercial paper and senior notes due September 15, 2025, with any remaining funds allocated for general corporate purposes. This strategic financial move is expected to strengthen ONEOK’s financial position by addressing its debt obligations and potentially enhancing its operational flexibility.

The most recent analyst rating on (OKE) stock is a Hold with a $97.00 price target. To see the full list of analyst forecasts on Oneok stock, see the OKE Stock Forecast page.

ONEOK Inc. Reports Strong Q2 Earnings Growth

ONEOK Inc., a leading midstream service provider in North America, specializes in gathering, processing, fractionation, transportation, storage, and export services for natural gas, natural gas liquids (NGLs), refined products, and crude oil.

Oneok Inc. Reports Strong Q2 Earnings Amid Market Challenges

The recent earnings call for Oneok Inc. presented a generally positive sentiment, highlighting the company’s strong performance in the second quarter. The call emphasized significant net income growth, a boost in adjusted EBITDA, and strategic expansions in the Permian Basin. However, it also acknowledged challenges related to market volatility and adjustments to the 2026 outlook.

ONEOK Reports Strong Q2 2025 Earnings Boost

On August 4, 2025, ONEOK, Inc. reported higher earnings for the second quarter of 2025, with a net income of $841 million and an adjusted EBITDA of $1.98 billion. The results were driven by strategic acquisitions, particularly EnLink and Medallion, which contributed significantly to the company’s performance. The company also repaid nearly $600 million in senior notes and affirmed its full-year 2025 financial guidance ranges. These developments underscore ONEOK’s strong market positioning and its ability to deliver long-term value to stakeholders.

The most recent analyst rating on (OKE) stock is a Hold with a $97.00 price target. To see the full list of analyst forecasts on Oneok stock, see the OKE Stock Forecast page.