ONEOK, Inc.

OKE

$95.75

-0.27%

2026-09-03 16:00:02 EDT-$0.26

Energy

Oil & Gas Midstream

NYSE

Active Trading

ONEOK, Inc., along with its subsidiaries, functions as a leading energy infrastructure company within the United States. Its primary focus is the ...

Price Action of OKE

$95.75

-0.27%-$0.26

High—

Low—

52W High-4.1%

Rel. vol—

Interval

Range6.5h

Volume—SMA5SMA10

—

ONEOK, Inc. (NYSE: OKE) is a premier midstream energy company with a rich history dating back to 1906 when it was founded as Oklahoma Natural Gas Company. The company operates through three primary segments: Natural Gas Gathering and Processing, Natural Gas Liquids (NGL), and Natural Gas Pipelines. In the gathering ...ONEOK, Inc. (NYSE: OKE) is a premier midstream energy company with a rich history dating back to 1906 when it was founded as Oklahoma Natural Gas Company. The company operates through three primary segments: Natural Gas Gathering and Processing, Natural Gas Liquids (NGL), and Natural Gas Pipelines. In the gathering and processing segment, ONEOK owns approximately 17,500 miles of gathering pipelines and numerous processing plants, predominantly in the Mid-Continent and Rocky Mountain regions, connecting supply basins to demand centers. The NGL segment is a key growth driver, handling the full value chain from collection and fractionation to transportation and storage, with assets spanning Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado, plus terminal and storage facilities in the Midwest. The pipelines segment includes both federally and state-regulated transmission lines, totaling over 6,600 miles, and provides critical transport and storage services. Financially, ONEOK reported a market capitalization of approximately $55.2 billion, with a trailing twelve months revenue per share of $62.40 and net income per share of $5.80. The company maintains a strong dividend policy (yield around 4.8%) and has demonstrated operational efficiency with an EBITDA margin of 20.1% and a return on equity of 16.3%. Leadership is headed by CEO Pierce H. Norton, who brings over 40 years of industry experience. In 2023, ONEOK completed a major acquisition of Magellan Midstream Partners, expanding its product portfolio to include refined petroleum products and enhancing its marine export capabilities. The company employs approximately 6,326 full-time employees and is committed to safely delivering energy products that are vital to an advancing world. With a focus on innovation and strategic growth, ONEOK continues to strengthen its position as a leading energy infrastructure provider, serving customers ranging from exploration and production companies to utilities and petrochemical firms.ExpandCollapse

Founded

1906

Employees

6326

CEO

Pierce H. Norton

Full Name

ONEOK, Inc.

Sector

Energy

Industry

Oil & Gas Midstream

ROE

16.28%

Market Cap

$60.34B

Current Ratio

0.74

WACC

6.58%

ROIC

8.47%

Contact Information

https://www.oneok.com

918 588 7000

100 West Fifth Street, Tulsa, OK 74103

Key Metrics of OKE

Snapshot

Latest / TTM · 6 periods

Market Cap

$60.34B

ROCE

11.9%

EV / EBITDA

11.84x

+0.3% YoY

FCF Yield

4.8%

-0.5% YoY

Cash Conversion Cycle

3.5d

Current Ratio

0.74

Quick take

TTM —

Current ratio below 1.0

Negative working capital

Financial Highlights of OKE

Profitability trend

Latest / TTM · 6 periods

Gross Margin

21.8%

Net Margin

9.3%

P/E Ratio

16.61x

n/a

Debt / Equity

1.44

n/a

Current Ratio

0.74

Dividend Yield

4.4%

Understanding

TTM —

Current ratio below 1.0

Calendar of OKE

Upcoming

Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $5.73 · Revenue $42.69B · 11 analysts
Dec 31, 2027
FY2027 · Estimated annual results
Est. EPS $6.23 · Revenue $40.26B · 13 analysts
Sep 30, 2028
Q3 FY2028 · Estimated results
Est. EPS $1.83 · Revenue $11.98B · 9 analysts
Dec 30, 2028
Q4 FY2028 · Estimated results
Est. EPS $1.88 · Revenue $12.46B · 9 analysts

Recent history

Aug 14, 2026
Dividend payment
$4.24 per share
Aug 4, 2026
Q2 FY2026 · Results reported
EPS $1.53 · Revenue $12.05B
View filing
Aug 3, 2026

Financial Statements of OKE

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$33.6B	+55.4%	+25.3%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$3.4B	+11.9%	+24.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+21.5%	-8.0%	-46.9%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	+20.7%	-10.7%	-11.0%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	+10.1%	-28.0%	-0.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$2.4B	-14.6%	+1957.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+7.3%	-45.1%	+1542.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	145.9%	-23.0%	-4.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	0.71x	-21.5%	+3.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$66.6B	+4.0%	+0.5%

Actual vs Estimate

A Dec 31Q Sep 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	5.42 vs 5.39	+0.5%	1.53 vs 1.83	-16.6%
Revenue Surprise	$33.6B vs $33.4B	+0.8%	$12.0B vs $12.0B	+0.6%

Insider Transactions of OKE

Acquisitions (A)

Since May 20, 2026

Disposals (D)

Since May 20, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
May 28, 2026	SPEARS MARY M	officer: See Remarks	Common Stock, par value $0.01	D	1,000	—
May 20, 2026	RODRIGUEZ EDUARDO A	director	Common Stock, par value $0.01	A	1,476	$92.15
May 20, 2026	RODRIGUEZ EDUARDO A	director	Phantom Stock-OKE	A	369	—
May 20, 2026	HELDERMAN MARK W	director	Common Stock, par value $0.01	A	3,039	$92.15
May 20, 2026

Earnings Call Transcript of OKE

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Good morning, and welcome to ONEOK's Second Quarter 2026 Earnings Call. As a reminder, this call is being recorded. [Operator Instructions] At this time, I would like to turn the conference over to Megan Patterson, Vice President, Investor Relations. Megan, please go ahead. Megan Patterson: Thank you, Jess. Welcome to ONEOK's Second Quarter 2026 Earnings Call. We issued our earnings release and presentation after the markets closed yesterday, and those materials are available on our website. After our prepared remarks, management will be available to take your questions. Statements made during this call that might include ONEOK's expectations or predictions should be considered forward-looking statements and are covered by the safe harbor provision of the Securities Acts of 1933 and 1934. Actual results could differ materially from those projected in forward-looking statements. For a discussion of factors that could cause actual results to differ, please refer to our SEC filings. With that, I'll turn the call over to Pierce Norton, President and Chief Executive Officer. Pierce Norton: Thank you, Megan. Good morning, everyone, and thank you for joining us today. Joining me on the call are Walt Hulse, our Chief Financial Officer; Randy Lentz, our Chief Operating Officer; and Sheridan Swords, our Chief Commercial Officer. Yesterday, we reported second quarter earnings and raised our 2026 financial guidance for the second time this year, reflecting strong year-to-date performance and continued momentum heading into the back half of the year. Our second quarter results were driven by record NGL throughput volumes, strong refined products demand and continued volume growth across our systems. The quarter highlighted the positioning of our asset footprint, the value of our integrated platform and the outstanding execution of our employees. The broader energy backdrop remains constructive, but the more important point for ONEOK is that we are converting that backdrop into visible growth. Our footprint connects key supply basins with domestic and international demand across natural gas, natural gas liquids, crude oil and refined products. The connectivity across our business segments gives us multiple ways to grow earnings, optimize existing assets and allocate capital toward opportunities with attractive returns. Importantly, these opportunities are not confined to a single commodity or region. Our integrated system enables us to create value across multiple demand drivers, a differentiator for ONEOK. Our confidence is reflected in our long-term outlook. We continue to target mid- to high single-digit adjusted EBITDA growth over the next 5 to 7 years, supported by 3 factors that are increasingly visible. Recently completed and soon-to-be completed projects drive structural growth spanning Permian Basin processing capacity, Powder River processing capacity, Mid-Continent fractionation capacity, refined products expansions, and natural gas …

Leadership Team of OKE

10 executives

Name	Title	Compensation	Gender	Year Born	Status
Pierce H. Norton	President, Chief Executive Officer & Director	USD 3,232,056	Male	1960	Active
Walter S. Hulse	Chief Financial Officer, Treasurer and Executive Vice President of Investor Relations & Corporate Development	USD 2,283,229	Male	1964	Active
Lyndon C. Taylor	Executive Vice President, Chief Legal Officer & Assistant Secretary	USD 2,243,012	Male	1959	Active
Kevin L. Burdick	Executive Vice President & Chief Enterprise Services Officer	USD 1,930,051	Male	1965	Active
Randy N. Lentz	Executive Vice President & Chief Operating Officer	USD 1,634,988	Male	1965	Active
Sheridan C. Swords	Executive Vice President & Chief Commercial Officer	USD 1,460,944	Male	1969	Active
Brent D. Strehlow	Senior Vice President & Chief Human Resources Officer	—	Male	—	Active
J. Darren Wallis	Senior Vice President of Communications & Community Relations	—	Male	—	Active
Mary Spears	Senior Vice President and Chief Accounting Officer of Finance & Tax.	—	Female	1980	Active
Scott D. Schingen	Senior VP of Eng., and Op. - Natural Gas Liquids, Natural Gas Pipelines and Corporate Measurement	—	Male	—	Active

Recent News of OKE

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Zacks Investment Research8/19/2026Neutral

Here's Why Oneok Inc. (OKE) is a Strong Growth Stock

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Fool - Investing News8/14/2026Neutral

This Boring Pipeline Stock Just Signed a Deal to Power AI Data Centers

ONEOK is starting to capitalize on the AI power megatrend.

Zacks Investment Research8/13/2026Neutral

Why Oneok Inc. (OKE) is a Top Momentum Stock for the Long-Term

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Fool - Investing News8/10/2026Neutral

Forget Chips: AI Is Now a Power Trade. These 2 Dividend-Paying Industrials Prove It.

NextEra Energy and OneOK are supplying power to boost the growth of AI data centers and deliver above-average dividends.

Historical Employee Count of OKE

Current

6,326

Change

+22.19%

Minimum

2,847

Maximum

6,326

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	6,326	10-K	Feb 24, 2026	View
Dec 31, 2024	5,177	10-K	Feb 25, 2025	View
Dec 31, 2023	4,775	10-K	Feb 27, 2024	View
Dec 31, 2022	2,966	10-K	Feb 28, 2023	View
Dec 31, 2021	2,847	10-K	Mar 1, 2022	View

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ONEOK, Inc.