OKE official logo OKE
OKE 2-star rating from Upturn Advisory
ONEOK Inc (OKE) company logo

ONEOK Inc (OKE)

ONEOK Inc (OKE) 2-star rating from Upturn Advisory
$67.9
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PASS
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Upturn Advisory Summary

11/10/2025: OKE (2-star) is currently NOT-A-BUY. Pass it for now.

Upturn Star Rating

Upturn 2 star rating for performance

Below Average Performance

These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.

Number of Analysts

3 star rating from financial analysts

19 Analysts rated it

Moderately tracked stock, growing coverage, gaining market and investor attention.

1 Year Target Price $89.37

1 Year Target Price $89.37

Analysts Price Target For last 52 week
$89.37 Target price
52w Low $64.02
Current$67.9
52w High $112.17

Analysis of Past Performance

Type Stock
Historic Profit 49.27%
Avg. Invested days 83
Today’s Advisory PASS
Upturn Star Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 11/10/2025

Key Highlights

Company Size Large-Cap Stock
Market Capitalization 42.86B USD
Price to earnings Ratio 12.52
1Y Target Price 89.37
Price to earnings Ratio 12.52
1Y Target Price 89.37
Volume (30-day avg) 19
Beta 0.94
52 Weeks Range 64.02 - 112.17
Updated Date 11/10/2025
52 Weeks Range 64.02 - 112.17
Updated Date 11/10/2025
Dividends yield (FY) 6.08%
Basic EPS (TTM) 5.44

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

Earnings Date

Report Date 2025-10-27
When After Market
Estimate 1.44
Actual 1.49

Profitability

Profit Margin 10.58%
Operating Margin (TTM) 18.16%

Management Effectiveness

Return on Assets (TTM) 6.28%
Return on Equity (TTM) 17.85%

Valuation

Trailing PE 12.52
Forward PE 11.95
Enterprise Value 78008415798
Price to Sales(TTM) 1.36
Enterprise Value 78008415798
Price to Sales(TTM) 1.36
Enterprise Value to Revenue 2.79
Enterprise Value to EBITDA 10.74
Shares Outstanding 629231557
Shares Floating 627255770
Shares Outstanding 629231557
Shares Floating 627255770
Percent Insiders 0.19
Percent Institutions 75.09

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI SWOT

ONEOK Inc

ONEOK Inc(OKE) company logo displayed in Upturn AI summary

Company Overview

Company history and background logo History and Background

ONEOK, Inc. was founded in 1906 as Oklahoma Natural Gas Company. Initially focused on natural gas distribution in Oklahoma, it evolved over time to include natural gas gathering, processing, storage, and transportation, as well as natural gas liquids (NGL) infrastructure. A key milestone was the expansion into NGLs which diversified the company's business model.

Company business area logo Core Business Areas

  • Natural Gas Gathering and Processing: This segment gathers natural gas from producers and processes it to remove impurities and extract valuable NGLs. ONEOK owns extensive gathering and processing systems in key shale basins.
  • Natural Gas Liquids (NGL): ONEOK transports, fractionates, stores, and markets NGLs. This includes pipelines, fractionation facilities, and storage assets.
  • Natural Gas Pipelines: ONEOK owns and operates regulated natural gas pipelines that transport natural gas to various markets.

leadership logo Leadership and Structure

The CEO is Pierce H. Norton II. ONEOK operates under a traditional corporate structure with a board of directors overseeing the management team responsible for executing the company's strategy.

Top Products and Market Share

Product Key Offerings logo Key Offerings

  • Natural Gas Gathering and Processing Services: These services include gathering natural gas from wellheads, removing impurities, and extracting NGLs. ONEOK is a major player in key shale basins. Competitors include Energy Transfer, Kinder Morgan, and Williams Companies. Market share information varies depending on the specific basin but is significant in the Mid-Continent region.
  • NGL Transportation and Fractionation: ONEOK owns extensive NGL pipeline and fractionation assets, transporting and separating NGLs into various products. Market share data is not easily accessible but they are a major player. Competitors include Enterprise Products Partners and Phillips 66 Partners.

Market Dynamics

industry overview logo Industry Overview

The midstream energy industry, in which ONEOK operates, is experiencing increased demand for natural gas and NGLs driven by global energy needs and domestic production growth. Volatility in commodity prices and regulatory changes are key factors influencing the industry.

Positioning

ONEOK is a leading midstream service provider with a strong presence in key shale basins. Its competitive advantage lies in its integrated asset base, strategic locations, and scale of operations. The company's significant NGL infrastructure positions it well for long-term growth.

Total Addressable Market (TAM)

The total addressable market for midstream services related to natural gas and NGLs is estimated to be in the hundreds of billions of dollars. ONEOK is positioned to capture a significant portion of this TAM through its extensive infrastructure and strategic investments.

Upturn SWOT Analysis

Strengths

  • Strategic Asset Base
  • Integrated Operations
  • Strong Financial Position
  • Experienced Management Team
  • Diversified Business Model

Weaknesses

  • Exposure to Commodity Price Volatility
  • Dependence on Shale Basin Production
  • Regulatory Risk
  • Environmental Concerns

Opportunities

  • Infrastructure Expansion
  • Acquisitions
  • Increased NGL Demand
  • New Shale Basin Development
  • Renewable Energy Initiatives

Threats

  • Commodity Price Declines
  • Regulatory Changes
  • Increased Competition
  • Environmental Regulations
  • Economic Downturn

Competitors and Market Share

Key competitor logo Key Competitors

  • ET
  • KMI
  • WMB

Competitive Landscape

ONEOK possesses integrated midstream assets and regional expertise. Competitive advantages include their NGL infrastructure network. Disadvantages could include greater exposure to certain geographic regions.

Major Acquisitions

Magellan Midstream Partners, L.P.

  • Year: 2023
  • Acquisition Price (USD millions): 18800
  • Strategic Rationale: Significantly expanded ONEOK's refined products and crude oil pipeline and storage network, creating a more diversified midstream infrastructure company and increasing earnings.

Growth Trajectory and Initiatives

Historical Growth: ONEOK's growth has been driven by expansion of its infrastructure, strategic acquisitions, and increased demand for natural gas and NGLs.

Future Projections: Analyst estimates suggest continued growth for ONEOK driven by increased production in key shale basins and demand for its services.

Recent Initiatives: Recent initiatives include investments in new pipeline projects, expansion of fractionation capacity, and exploring renewable energy opportunities.

Summary

ONEOK is a strong midstream energy company with extensive infrastructure, particularly in NGLs. The acquisition of Magellan greatly strengthens its position. Exposure to commodity price volatility and regulatory risk are areas that need monitoring. Its integrated asset base and strategic location offer competitive advantages for long-term growth.

Similar Stocks

Sources and Disclaimers

Data Sources:

  • ONEOK Investor Relations
  • SEC Filings (10-K, 10-Q)
  • Industry Reports
  • Analyst Estimates

Disclaimers:

This analysis is for informational purposes only and should not be considered investment advice. Financial data and market conditions are subject to change. Past performance is not indicative of future results. Consult with a qualified financial advisor before making any investment decisions.

Information icon for Upturn AI Summarization accuracy disclaimer AI Summarization is directionally correct and might not be accurate.

Information icon for Upturn AI Summarization data freshness disclaimer Summarized information shown could be a few years old and not current.

Information icon warning about Upturn AI Fundamental Rating based on potentially old data Fundamental Rating based on AI could be based on old data.

Information icon warning about potential inaccuracies or hallucinations in Upturn AI-generated summaries AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.

About ONEOK Inc

Exchange NYSE
Headquaters Tulsa, OK, United States
IPO Launch date 1985-07-01
President, CEO & Director Mr. Pierce H. Norton II
Sector Energy
Industry Oil & Gas Midstream
Full time employees 5177
Full time employees 5177

ONEOK, Inc. operates as a midstream service provider of gathering, processing, fractionation, transportation, storage, and marine export services in the United States. It operates in four segments: Natural Gas Gathering and Processing; Natural Gas Liquids; Natural Gas Pipelines; and Refined Products and Crude. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent, Permian Basin, North Texas, Gulf Coast region, and Rocky Mountain regions; and provides midstream services to producers of NGLs. It also owns NGL gathering and distribution pipelines, fractionation, terminal and storage facilities; and transports refined products, including gasoline, diesel fuel, aviation fuel, kerosene, and heating oil. In addition, the company transports and stores natural gas through regulated interstate and intrastate natural gas transmission pipelines, and natural gas storage facilities; it owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases buildings, warehouses, office space, land, and equipment, including pipeline equipment, pipeline capacity, rail cars, and information technology equipment. Further, the company transports, stores, and distributes refined products, purity NGLs, and crude oil, as well as conducts commodity-related activities, including liquids blending and marketing activities. It serves integrated and independent exploration and production companies; other NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; utilities; industrial companies; natural gasoline distributors; propane distributors; municipalities; ethanol producers; petrochemical, refining, and marketing companies; and diluent users, refineries, and exporters. ONEOK, Inc. was founded in 1906 and is headquartered in Tulsa, Oklahoma.