Oneok Inc.

Oneok Inc.

OKE

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Market Cap$53.57B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Oneok Inc.Oneok Inc.15.24.94%16%1.61.5

Earnings Call Q1 2026

April 29, 2026 - AI Summary

Raised 2026 guidance materially (strong momentum): ONEOK increased expected 2026 net income to ~$3.5B (midpoint), diluted EPS to ~$5.53 (midpoint), and adjusted EBITDA to ~$8.25B (midpoint). Management attributed the uplift to strong 1Q execution plus improving market conditions late in the quarter and expectations for higher volumes, completed projects, and tailwinds in 2H 2026 → into 2027. - Capex unchanged: $2.7B–$3.2B remains the 2026 plan (major projects mostly completed by mid-2027, implying stronger free cash flow later).
1Q results were solid but included a notable noncash item (the “bad/surprising”): 1Q 2026 net income ~$776M (+12% YoY) and adjusted EBITDA ~$2.0B (+13% YoY) driven by higher volumes and strong segment performance. However, results included a noncash impairment of ~$60M (after tax; ~$0.07/share) tied to the Powder Springs logistics JV in the refined products/crude segment. - Management reiterated 1Q is typically the lowest EBITDA quarter seasonally; shape of the year is expected to remain broadly consistent, with the main “change” being potentially stronger back half if volumes outperform.
Operational execution and project progress (supports 2H ramp): Management emphasized safe/reliable operations with no material downtime. Key progress points: - Completed relocation of a 150 MMcf/d natural gas processing plant (North Texas → Midland Basin) with ramp expected as producer activity remains solid. - On track for 3Q: Delaware Basin processing expansion adding +110 MMcf/d (plus a separate 300 MMcf/d Bighorn plant on schedule for mid-2027). - On track for 4Q 2026: 60 MMcf/d plant in Powder River Basin to raise capacity to >100 MMcf/d. - Refined products/NGL: expansions adding 35 kb/d refined pipeline capacity and 100 kb/d NGL fractionation capacity (Denver + Medford-related milestones).

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$89.17

Target Price by Analysts

3.3% upsideOneok Target Price DetailsTarget Price
$265.74

Current Fair Value

208% upside

Undervalued by 208% based on the discounted cash flow analysis.

Share Statistics

Market cap$53.57 Billion
Enterprise Value$87.05 Billion
Dividend Yield$4.20 (4.94%)
Earnings per Share$5.43
Beta0.71
Outstanding Shares630,700,000

Return

Return on Equity15.80%ROE
Return on Assets5.18%
Return on Invested Capital10.50%

Valuation & Multiples

P/E Ratio15.18P/E Ratio
PEG69.96PEG
Price to Sales1.57Price to Sales
Price to Book Ratio2.47Price to Book Ratio
Enterprise Value to Revenue2.47
Enterprise Value to EBIT13.73
Enterprise Value to Net Income24
Total Debt to Enterprise0.39
Debt to Equity1.51Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 5, 2026
EPS Estimate
$1.29
Average shareholder expectation
Revenue Estimate
$8.56 B
Average shareholder expectation

Next Earnings Call

Expected Date
August 3, 2026
EPS Estimate
$1.43
Average shareholder expectation
Revenue Estimate
$8.58 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.4545▼ 5.51%
Total Calls4,811,024▼ 19.53%
Total Puts2,186,560▼ 28.23%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %79.42%▲ 3.04%
Total Invested$45.17B▲ 28.28%
Investors Holding1,738▲ 131.00%

ESG Score

No data

About Oneok Inc.

CEO: Terry Spencer

Relevant Senate Committees

Joint Committee on Taxation

This committee provides critical analysis and revenue estimates for tax legislation, directly influencing corporate tax structures and capital investment credits that profoundly affect Oneok's financial performance and strategic decisions.

Finance

As the primary tax-writing committee, it drives corporate valuations through tax policy (e.g., corporate tax rates, capital investment credits), which directly impacts Oneok's profitability and financial outlook.

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC, which regulates the derivatives/futures market, including crude oil futures. Fluctuations in these markets directly impact the value of the commodity Oneok transports and its associated revenue.

Energy and Natural Resources

This committee directly oversees national energy policy and the Department of Energy, profoundly impacting the oil and gas sector, including leasing regulations and infrastructure development relevant to Oneok's operations.

Environment and Public Works

This committee regulates the EPA, whose environmental regulations (e.g., emissions, spill prevention, permitting) directly impact pipeline construction, operation, and maintenance, which are central to Oneok's business.