Oneok (OKE) reported earnings 30 days ago. What's next for the stock?
Wells Fargo upgraded ONEOK (NYSE:OKE) to Overweight from Equal Weight on Wednesday, raising its price target to $100 from $81.
In the most recent trading session, Oneok Inc. (OKE) closed at $90.94, indicating a +1.13% shift from the previous trading day.
Oneok Inc. (OKE) closed the most recent trading day at $86.56, moving +1.45% from the previous trading session.
Chilton Investment Co. Inc. purchased a new stake in shares of ONEOK, Inc. (NYSE: OKE) in the undefined quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,149 shares of the utilities provider's stock, valued at approximately $887,000. Several other institutional investors have also recently
ONEOK remains a buy, despite 2026 EBITDA guidance of $8.1B falling short of market expectations. OKE's underlying business momentum is healthy, with 2.7% projected EBITDA growth in 2026, as synergies from Magellan, EnLink, and Medallion integrations materialize. Significant CapEx for long-duration projects positions OKE for robust long-term infrastructure-driven growth beyond 2026.
Although the revenue and EPS for Oneok (OKE) give a sense of how its business performed in the quarter ended December 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
OKE Q4 EPS beat estimates as revenues jump 29% YoY, but margins dip and the 2026 outlook guides steady earnings and a $3B capex plan.
ONEOK (OKE) maintains a Strong Buy rating, driven by robust execution, high-margin fee-based contracts, and successful integration of recent acquisitions. OKE's diversified segments—NGL, refined products, and natural gas—are delivering growth, with major capacity expansions and the Medford fractionator rebuild enhancing competitive positioning. OKE's valuation is attractive at 11.87x EV/EBITDA, with a 4.76% dividend yield and significant FCF tailwinds from the Magellan tax shield deferring cash taxes until 2029.
ONEOK, Inc. (OKE) Q4 2025 Earnings Call Transcript
ONEOK operates 60,000 miles of pipeline with 90% fee-based earnings, making it one of the most AI-disruption-proof infrastructure plays in the current market rotation. The Williston Basin GOR has doubled since 2016 — throughput grows even when drilling doesn't. ONEOK's Rocky Mountain volumes rose 15% in 2025 with no new rig count needed. Peers trade at 12-14x EV/EBITDA. ONEOK trades at 10.8x. Closing half that gap implies double-digit upside before dividend income is even counted.
ONEOK (NYSE: OKE) posted solid Q4 2025 results after the close on February 23, with full-year earnings growth and a recently raised dividend reinforcing its standing as one of North America's premier midstream operators.