ONEOK, Inc. (OKE) Stock Price, News, Analysis

Technical Score (1D)

BUY

News Sentiment

BULLISH

The most recent update places OKE among the top dividend‑growth stocks for September, with a yield approaching 7 %. The analyst’s long position signals confidence that the company will continue to raise its dividend, reinforcing its appeal to income‑focused investors. This endorsement does not indicate a new corporate event but confirms OKE’s status as a reliable dividend payer in the current market. Over the next 1–10 trading days, the primary driver for OKE’s valuation will be the company’s upcoming earnings release, which will test the sustainability of its payout ratio. Investors should watch for any guidance on future dividend increases or cuts, as that will directly affect the stock’s yield profile. Additionally, monitoring OKE’s cash‑flow generation and debt service coverage will provide insight into its ability to maintain dividend growth. A positive earnings surprise could lift the stock’s price, while a miss or a dividend warning would likely dampen sentiment. Finally, keep an eye on broader interest‑rate movements, as higher rates could pressure dividend‑yielding stocks like OKE by making alternative fixed‑income assets more attractive.

OKE|Analyst Targets

LOW TARGET

$89 -4.8%

2 analysts

MEAN TARGET

$101 +8.1%

19 analysts

HIGH TARGET

$112 +19.8%

9 analysts

PRICE RANGE

$89.00 - $112.00

SB / B / H / S / SS

5/8/15/1/1

DAILYIQ EST.

$101.95 (+9.1%)

OKE|Company Info

Sector

Energy

Industry

Oil & Gas Midstream

Exchange

NYQ

Country

United States

Website

oneok.com

Symbol

OKE

Description

ONEOK, Inc. is a leading midstream energy company, providing essential infrastructure and services across the United States. Its core business centers on gathering, processing, transporting, and storing natural gas and natural gas liquids (NGLs). The company operates extensive pipeline networks and processing facilities throughout key production regions, including the Mid-Continent, Permian Basin, and Rocky Mountains. ONEOK's value proposition lies in its ability to connect producers with end-users, facilitating the efficient movement of energy products like gasoline, diesel, and aviation fuel. By offering a comprehensive suite of midstream services, ONEOK serves a diverse clientele, including exploration and production companies, utilities, and refining businesses, solidifying its position within the energy value chain.

OKE|Insider Trading

Bought (1Y)

0 shares

Sold (1Y)

0 shares

SPEARS MARY MSee Remarks

Gift1,000 shares2026-05-28

DERKSEN BRIAN L-

Award/Grant1,845 shares2026-05-20

Smith Wayne Thomas-

Award/Grant1,845 shares2026-05-20

LARSON RANDALL J-

Award/Grant1,845 shares2026-05-20

Gobillot Lori-

Award/Grant1,845 shares2026-05-20

OKE|Fundamentals

Bullish

Verdict: Bullish

✓Revenue growing year over year

✓Positive net margin

✓Positive operating cash flow

Gross Margin

30.5%

Net Margin

10.1%

Revenue CAGR

5.2%

Current Ratio

0.71x

Debt / Equity

1.42x

Return on Equity

15.1%

OKE|Earnings Snapshot

Earnings Summary

ONEOK, Inc. is a leading midstream energy company that gathers, processes, transports, and stores natural gas and natural gas liquids across key U.S. production regions such as the Mid‑Continent, Permian Basin, and Rocky Mountains, positioning it firmly within the oil & gas midstream sector. The company’s extensive pipeline network and processing facilities enable it to connect producers with end‑users, delivering a diversified portfolio of energy products including gasoline, diesel, and aviation fuel. In recent quarters, ONEOK’s revenue has shown a steady upward trajectory, rising from $7.00 billion in Q4 2024 to $12.05 billion in Q2 2026, a 72% year‑over‑year increase, while EPS has fluctuated around the $1.30–$1.55 range, with a slight decline in Q1 2025 to $1.04 versus the $1.57 in Q4 2024, yet rebounding to $1.34 in Q2 2025 and $1.49 in Q3 2025. The company beat estimates in Q4 2024 and Q3 2025, missed in Q1 2025, and narrowly beat in Q2 2025, indicating a mixed but generally positive earnings trend. Historically, ONEOK has maintained consistent revenue growth, with YoY increases of 10–15% in the past four quarters, while EPS has alternated between beats and misses, reflecting sensitivity to operating leverage and commodity price swings. Recent news highlights ONEOK’s acquisition of high‑margin Brazos Permian assets, expected to lift EBITDA and improve cash flow, alongside a cash tender offer to repurchase up to $2 billion of debt, which could reduce interest expense and strengthen the balance sheet. These developments suggest a strategic focus on enhancing profitability and financial flexibility. Investors should watch for the impact of the debt repurchase on leverage ratios and any guidance revisions regarding operating leverage, as well as the performance of the newly acquired Permian assets in the next earnings cycle, which will be key to assessing the sustainability of revenue growth and EPS resilience.

Read full report

EPS

EstBeatMiss

Qtr	Est	Actual	+/−
Q3'26	$1.68	-	-
Q2'26	$1.48	$1.53	+3.7%
Q1'26	$1.31	$1.30	-0.7%
Q4'25	$1.49	$1.55	+3.8%
Q3'25	$1.45	$1.49	+2.5%
Q2'25	$1.33	$1.34	+0.9%

Revenue

EstBeatMiss

Qtr	Est	Actual	+/−
Q3'26	$11.1B	-	-
Q2'26	$9.0B	$12.0B	+33.3%
Q1'26	$8.2B	$9.6B	+16.8%
Q4'25	$8.7B	$9.1B	+3.6%
Q3'25	-	$8.6B	-
Q2'25	-	$7.9B	-

Full Earnings BreakdownEstimates, actuals, guidance, and historical context

→

OKE|Monthly Returns

Market Data

OKE Stock Snapshot

HOLD59/100

$93.46−$0.03 (0.0%)

Market cap: 58.76B
P/E ratio: 16.1
Day range: $92.27 – $95.01
News sentiment: 56/100 · Neutral
Analyst target: $101.05 (+8.1%)
Consensus: Hold · 30 analysts

52-week range+46.0% off low · -6.4% from high

$64.02$99.85

Price $93.46 DailyIQ Est. $101.95

OKE is in a holding pattern - neither trend nor momentum has taken control. Institutional coverage is thorough here, so shifts in analyst expectations show up in price quickly.

Reverse DCF

What growth is priced into OKE?

CHEAP

At today's price, ONEOK, Inc. needs to grow free cash flow about 14.2% a year for the next 10 years to justify its valuation at a 7.04% cost of capital. Over its actual history it has compounded free cash flow at 19.1% a year, so the market is asking for 5.0 percentage points below its own delivered rate. On that basis OKE looks priced below what its own growth record supports.

Implied FCF growth: 14.2%
Historical FCF CAGR: 19.1%
Growth gap: -5.0 pts
Verdict: CHEAP
Discount rate (WACC): 7.04%
Beta: 0.71

Behaviour On Record

What OKE's own history says about today's numbers

Realized volatility (21d): 28.5% 74th pct
Below its peak: -18.1%
vs 200-day average: +11.7%
Up days (1y): 53%

ONEOK, Inc. is currently running 28.5% annualised volatility over the last 21 sessions. Measured against OKE's own 13 years of daily returns rather than a market-wide average, that is the 74th percentile — a little above its own norm, against a typical reading of 21.9%. The distinction matters because a number that looks calm for one stock is turbulent for another, and the absolute figure on its own tells you neither.

OKE is trading -18.1% below its running peak. Across 12 full years on file, its median worst-drawdown-in-a-year was -18.5%, and the deepest was -57.3% in 2020. The current pullback is therefore shallower than what this stock gives back in a typical year, which is context worth having before treating it as a dislocation.

Price sits +11.7% from its 200-day moving average. Against every other day in its history, that gap ranks at the 82nd percentile — a wider gap than this stock usually carries. Over the past year OKE closed higher on 53% of sessions, and it is currently 1 session into a rising streak.

On September specifically: over 13 years of records, OKE finished the month higher 5 of 13 times, with a median return of -1.9% and an average of -3.3%. Its strongest month historically has been April at +3.3% on average, its weakest September at -3.3%. Seasonality is a weak signal on its own — a decade is a small sample and regimes change — but it is a real distribution rather than a rule of thumb.

Overnight risk is measurable too: OKE has opened more than 2% away from the prior close in 127 of 3,268 sessions (3.9% of the time), with the largest gaps running +7.1% and -6.7%. For anyone holding through an event, that rate is a better guide to overnight exposure than the intraday range.

Across the last 3 dated reports on file, OKE moved an average of 2.1% in the session after earnings, closing higher 0 of those 3 times, with a median move of -1.4% and a largest of -3.6%.

All figures computed from 3,269 daily closes between 2013-09-18 and 2026-09-17, split-adjusted, recomputed daily. Percentiles are against OKE's own 13-year history, not a peer group or index.

Sector Rotation

Is money rotating into or out of OKE's sector?

ONEOK, Inc. sits in the Energy sector, currently ranked 2nd of 11 GICS sectors by relative-strength rotation score (weakening).

Sector rank: #2 of 11
Sector state: Weakening
Sector rotation score: 80

Options Market

What is the options market pricing for OKE?

CallsPuts

For ONEOK, Inc.'s nearest expiry (2026-09-18, 0 days out), open interest is call-heavy, a bullish tilt (put/call ratio of 0.56), with at-the-money implied volatility around 23.4%.

Put/call ratio (2026-09-18): 0.56
ATM implied volatility: 23.4%
Total open interest: 24,577

Analyst Rating Changes

Are analysts turning bullish or bearish on OKE?

TD Cowen most recently reiterated its rating on ONEOK, Inc. to Hold on Sep 11, 2026 with a price target of $93 (from $90). Over the last 90 days, coverage has run 0 upgrades against 2 downgrades, a net bearish lean.

Latest action: TD Cowen — Hold
90-day upgrades: 0
90-day downgrades: 2
Net rating momentum: -2

Date	Firm	Action	Rating	Price target
Sep 11, 2026	TD Cowen	Maintained	Hold	$90 → $93
Sep 9, 2026	Morgan Stanley	Maintained	Equal-Weight	$105 → $112
Sep 3, 2026	Citigroup	Maintained	Buy	$97 → $108
Sep 2, 2026	Jefferies	Maintained	Hold	$95 → $105
Sep 2, 2026	Truist Securities	Maintained	Hold	$93 → $104
Sep 2, 2026	Wells Fargo	Maintained	Overweight	$98 → $106
Sep 1, 2026	Scotiabank	Maintained	Sector Perform	$89 → $95
Sep 1, 2026	JP Morgan	Maintained	Neutral	$95 → $106
Aug 18, 2026	Morgan Stanley	Maintained	Equal-Weight	$103 → $105
Jul 29, 2026	Morgan Stanley	Downgrade	Overweight → Equal-Weight	$113 → $103
Jul 21, 2026	RBC Capital	Maintained	Sector Perform	$84 → $90
Jul 17, 2026	Jefferies	Downgrade	Buy → Hold	$100 → $95

OKE Competitive Positioning

ONEOK, Inc. (OKE) is tracked alongside these names in Oil & Gas Midstream on DailyIQ — ranked by market cap, with today's move alongside.

OKEyou're hereONEOK, Inc.$58.8B-0.03%
WMBThe Williams Companies, Inc.$89.1B-0.03%
KMIKinder Morgan, Inc.$68.4B-0.03%
TRGPTarga Resources Corp.$61.2B+0.03%

Held by These ETFs

OKE is a top holding in these ETFs tracked on DailyIQ — bar length shows portfolio weight.

News Sentiment Analysis

Sentiment gathered from recent headlines

56/100

Strong NegativeNeutralStrong Positive

MODERATELY BULLISH

Recent News Coverage

Most recent articles, ranked by recency (click to expand).

10+ articles

What did this article say?

The article lists dividend growth stocks for September, highlighting OKE as one of the top picks. It notes OKE’s attractive yield and positions it as a candidate for investors seeking dividend growth. The analyst discloses a beneficial long position in OKE, underscoring confidence in the stock’s dividend potential. No material adverse events are mentioned, and the focus remains on the positive outlook for OKE’s dividend profile.

What did this article say?

Panama is moving forward with a 2.5 mmboe/d NGL pipeline that would bypass canal congestion and open a new export corridor to Asia. OKE is among the U.S. midstream firms in consortium talks for the concession, positioning it to capture a share of the new traffic. If OKE secures a significant stake, the company could benefit from higher throughput, lower transit costs, and new monetization opportunities. The key catalyst is the concessionaire selection later this year, which will determine the final ownership mix. The project’s economics are competitive with current canal transit, offering reliability and reduced congestion for all participants.

What did this article say?

ONEOK (OKE) announced the completion of its corporate reorganization on September 10, restructuring its legal entities to streamline operations and improve governance. The move does not alter the company’s core business activities or financial outlook, and no new revenue streams or cost savings were disclosed. Investors should monitor the company’s quarterly filings for any subsequent operational or financial adjustments that may arise from the reorganization.

What did this article say?

ONEOK has announced pricing terms for a $2 billion cash tender offer of debt securities, potentially lowering interest costs and improving future cash flow to shareholders. The company’s strong multi‑year performance has already been priced in, but the new debt terms could enhance free cash flow generation and support a higher valuation. Analysts note that the current P/E of 16.3x and the discounted cash flow model suggest a valuation gap of up to 46% relative to intrinsic value. This development is viewed as a positive catalyst for the stock, though the magnitude of upside is moderate and contingent on execution of the tender offer.

What did this article say?

ONEOK’s acquisition of Brazos Permian assets is expected to lift EBITDA and unlock upside at an 11.2x forward EBITDA multiple. The deal positions OKE for accelerated growth in a high‑margin segment of the midstream market. Analysts anticipate the transaction will strengthen the company’s balance sheet and improve cash flow generation.

What did this article say?

Oneok Inc. (OKE) closed 2.32% lower than the previous day, trailing the broader market’s modest decline. The company’s upcoming earnings are expected to show a 2.68% drop in EPS compared to the same quarter last year, although revenue is projected to rise 36% year‑over‑year. Analysts remain cautious, noting that the earnings shortfall could weigh on investor sentiment even as revenue growth is strong. Traders should monitor the earnings release for guidance revisions and any commentary on cost management. The market’s overall weakness may amplify the impact of the earnings miss. OKE’s performance will be benchmarked against peers in the natural gas sector for the quarter.

What did this article say?

ONEOK, Inc. (OKE) disclosed the pricing terms for its cash tender offers to acquire up to $2 billion of its own debt securities. The offer, managed by ONEOK, L.L.C., sets an aggregate maximum tender amount that may be adjusted and specifies acceptance priority levels for the various note series. The move is intended to refinance existing debt and potentially reduce interest expense, but the impact on earnings and cash flow depends on the final uptake by holders.

What did this article say?

ONEOK, Inc. (OKE) disclosed that its subsidiary, ONEOK, L.L.C., is conducting cash tender offers to acquire up to $2 billion of its own debt securities. The offers aim to refinance existing obligations and potentially reduce overall debt costs. The program is structured to allow adjustments to the aggregate maximum tender amount based on market conditions. Investors should monitor the completion rate of the offers and any changes to the aggregate maximum amount.

What did this article say?

The article highlights that a $50,000 allocation split among OKE, KMI, and WMB yields $1,861 annually at a blended 3.72% return, with dividends issued on 1099‑DIV forms. It emphasizes that these midstream operators rely on fee‑based take‑or‑pay contracts, insulating cash flow from commodity price swings. No material earnings guidance, operational changes, or regulatory events are disclosed, making the information purely descriptive of current dividend mechanics.

What did this article say?

TD Cowen’s analyst Jason Gabelman has upgraded ONEOK’s price target from $90 to $93 while keeping a Hold rating. The move reflects confidence in the company’s steady cash flow and dividend policy amid a stable regulatory environment. The upgrade signals a modest upside for investors, but the Hold stance indicates that the firm remains cautious about potential earnings volatility. Traders should monitor upcoming earnings releases and any changes in the company’s capital allocation strategy.

Technical Analysis

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NEUTRAL

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Institutional & Hedge Fund Ownership

25 tracked managers · $19.21B combined position · 12 adding, 12 trimming, 1 unchanged (latest 13F filings)

Manager	Trend	Shares Held	% of Co.	Position Value	Filed
Vanguard Group Inc	▲ Buy	77,603,334	12.34%	$5.70B	2026-01-29
BlackRock, Inc.	▲ Buy	64,537,467	10.26%	$5.61B	2026-08-07
Geode Capital Management, LLC	▲ Buy	17,439,867	2.77%	$1.51B	2026-08-12
Morgan Stanley	▼ Sell	11,886,409	1.89%	$1.03B	2026-08-13
Invesco Ltd.	▼ Sell	9,450,410	1.50%	$821.62M	2026-08-14
Norges Bank	▼ Sell	6,606,241	1.05%	$574.35M	2026-08-12
Goldman Sachs Group Inc	▲ Buy	6,590,324	1.05%	$572.96M	2026-08-14
Capital Research Global Investors	▲ Buy	6,319,376	1.01%	$549.59M	2026-08-12
Northern Trust Corp	▼ Sell	6,187,568	0.98%	$537.95M	2026-08-13
Bank of America Corp	▼ Sell	5,427,251	0.86%	$471.85M	2026-08-14
JPMorgan Chase & Co	▲ Buy	5,222,292	0.83%	$463.37M	2026-08-12
Janus Henderson Group plc	▲ Buy	3,830,346	0.61%	$346.22M	2026-05-18
Susquehanna International Group, LLP	▼ Sell	2,135,011	0.34%	$185.62M	2026-08-14
Wells Fargo & Company	▼ Sell	1,743,174	0.28%	$151.55M	2026-08-14
Citadel Advisors LLC	• Hold	1,677,510	0.27%	$145.84M	2026-09-02
Wellington Management Group LLP	▼ Sell	1,451,667	0.23%	$126.21M	2026-08-14
FMR LLC (Fidelity)	▲ Buy	862,763	0.14%	$75.01M	2026-08-13
Citigroup Inc	▲ Buy	795,669	0.13%	$69.18M	2026-08-03
AllianceBernstein L.P.	▲ Buy	660,095	0.10%	$59.67M	2026-08-14
Neuberger Berman Group LLC	▼ Sell	599,184	0.10%	$52.11M	2026-08-13
AQR Capital Management LLC	▲ Buy	374,539	0.06%	$32.56M	2026-08-14
Blackstone Inc.	▼ Sell	368,243	0.06%	$32.02M	2026-08-14
Gotham Asset Management, LLC	▼ Sell	344,077	0.05%	$29.91M	2026-08-14
Prudential Financial Inc	▼ Sell	299,154	0.05%	$26.01M	2026-08-12
Squarepoint Ops LLC	▲ Buy	293,506	0.05%	$25.52M	2026-08-14

Q2 2026 flow:6.71M sh bought ($583.31M)5.41M sh sold ($470.50M)net +1.30M sh (+$112.81M)

Congressional Trading Activity

7 disclosed trades · ~$56.0K est. traded value · 4 buys, 3 sells

Member	Chamber	State	Type	Amount	Traded	Filed
Gilbert Cisneros	House	CA31	▲ Buy	$1K - $15K	2026-02-10	2026-03-09
Gilbert Cisneros	House	CA31	▼ Sell	$1K - $15K	2026-01-09	2026-02-13
Gilbert Cisneros	House	CA31	▲ Buy	$1K - $15K	2025-11-18	2025-12-15
Dan Newhouse	House	WA04	▲ Buy	$1K - $15K	2025-08-18	2025-09-17
Ritchie John Torres	House	NY15	▼ Sell	$1K - $15K	2025-07-11	2025-08-20
Dwight Evans	House	PA03	▼ Sell	$1K - $15K	2025-04-03	2025-04-17
Ritchie John Torres	House	NY15	▲ Buy	$1K - $15K	2024-09-26	2025-08-20

OKE·ONEOK, Inc.

EPS

Revenue

OKE Stock Snapshot

What growth is priced into OKE?

What OKE's own history says about today's numbers

Is money rotating into or out of OKE's sector?

What is the options market pricing for OKE?

Are analysts turning bullish or bearish on OKE?

OKE Competitive Positioning

Held by These ETFs

News Sentiment Analysis

Recent News Coverage

Technical Analysis

Real-time indicators across multiple timeframes

News Sentiment Analysis

Recent News Coverage

Technical Analysis

Real-time indicators across multiple timeframes

Market Status

Recently Viewed

Portfolio

Email Alerts

Portfolio News

Economic Events

Earnings Events

Economic News

OKE·ONEOK, Inc.

EPS

Revenue

OKE Stock Snapshot

What growth is priced into OKE?

What OKE's own history says about today's numbers

Is money rotating into or out of OKE's sector?

What is the options market pricing for OKE?

Are analysts turning bullish or bearish on OKE?

OKE Competitive Positioning

Held by These ETFs

News Sentiment Analysis

Recent News Coverage

Technical Analysis

Real-time indicators across multiple timeframes

Discover More

News Sentiment Analysis

Recent News Coverage

Technical Analysis

Real-time indicators across multiple timeframes

Discover More

Market Status

Recently Viewed

Portfolio

Email Alerts

Portfolio News

Economic Events

Earnings Events

Economic News