OKE

ONEOK Inc

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74.460

-1.02(-1.351%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

76.020

Open

75.500

VWAP

74.67

Vol

3.16M

Mkt Cap

46.89B

Low

74.420

Amount

236.03M

EV/EBITDA(TTM)

11.59

Total Shares

629.76M

79.34B

EV/OCF(TTM)

14.99

P/S(TTM)

1.61

ONEOK, Inc. is a midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. The Company's segments include Natural Gas Gathering and Processing; Natural Gas Liquids; Natural Gas Pipelines, and Refined Products and Crude. The Natural Gas Gathering and Processing segment provides midstream services to producers in the Rocky Mountain region, the Mid-Continent region, the Permian Basin region and the North Texas region. The Natural Gas Liquids segment owns and operates facilities that gather, fractionate, treat and distribute natural gas liquids (NGLs) and store Purity NGLs, primarily in the Rocky Mountain region, Mid-Continent region, Permian Basin and Gulf Coast region (including Louisiana). The Natural Gas Pipelines segment transports, stores and markets natural gas. The Refined Products and Crude segment gathers, transports, stores, distributes, blends and markets refined products and crude oil.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2026Q1

FY2025Q4

FY2025Q3

8.73B

+8.49%

1.513

+45.47%

9.66B

+37.98%

1.597

+1.72%

9.01B

+79.39%

1.475

+25.04%

Estimates Revision

The market is revising Upward the revenue expectations for ONEOK, Inc. (OKE) for FY2025, with the revenue forecasts being adjusted by 8.54% over the past three months. During the same period, the stock price has changed by -12.44%.

Revenue Estimates for FY2025

Revise Upward

+8.54%

In Past 3 Month

EPS Estimates for FY2025

Revise Upward

+0.38%

In Past 3 Month

Stock Price

Go Down

-12.44%

In Past 3 Month

11 Analyst Rating

32.22% Upside

Wall Street analysts forecast OKE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OKE is 98.45 USD with a low forecast of 87.00 USD and a high forecast of 122.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

6 Buy

5 Hold

0 Sell

Moderate Buy

32.22% Upside

Current: 74.460

Low

87.00

Averages

98.45

High

122.00

32.22% Upside

Current: 74.460

Low

87.00

Averages

98.45

High

122.00

Raymond James

J.R. Weston

Outperform

downgrade

$110 -> $100

2025-08-06

New

Reason

Raymond James

J.R. Weston

Price Target

$110 -> $100

2025-08-06

New

downgrade

Outperform

Reason

Raymond James analyst J.R. Weston lowered the firm's price target on Oneok to $100 from $110 and keeps an Outperform rating on the shares. Oneok is still a "polarizing" name on the long-term refined products trajectory, and while macro volatility persists, Raymond James expects NGL integration and deal synergies to drive solid results, the analyst tells investors in a research note.

RBC Capital

Sector Perform

downgrade

$100 -> $94

2025-08-01

Reason

RBC Capital

Price Target

$100 -> $94

2025-08-01

downgrade

Sector Perform

Reason

RBC Capital lowered the firm's price target on Oneok to $94 from $100 and keeps a Sector Perform rating on the shares ahead of its Q2 results next week. The firm expects comments around guidance, synergies, growth projects, producer activity across its basins, capital allocation and potential for additional M&A, the analyst tells investors in a research note.

Raymond James

J.R. Weston

Outperform

downgrade

$115 -> $110

2025-07-22

Reason

Raymond James

J.R. Weston

Price Target

$115 -> $110

2025-07-22

downgrade

Outperform

Reason

Raymond James analyst J.R. Weston lowered the firm's price target on Oneok to $110 from $115 and keeps an Outperform rating on the shares. The story for Oneok in Q2 is the rebound off of challenging weather and volume impacts in Q1, along with the transition to what projects to be an active second half of 2025 for project ramps, synergy capture, and traditional seasonal improvements, the analyst tells investors in a research note.

Scotiabank

Outperform

NULL

downgrade

$93 -> $92

2025-07-15

Reason

Scotiabank

Price Target

$93 -> $92

2025-07-15

downgrade

Outperform

NULL

Reason

Scotiabank lowered the firm's price target on Oneok to $92 from $93 and keeps an Outperform rating on the shares. While Q2 was challenging, companies in the U.S. Midstream sector largely maintained their FY outlooks, the analyst tells investors. Scotiabank continues to favor Permian-levered names with a preference for gas given the basin's highest relative resiliency in a lower commodity price tape.

TD Cowen

Hold

initiated

$91

2025-07-07

Reason

TD Cowen

Price Target

$91

2025-07-07

initiated

Hold

Reason

TD Cowen initiated coverage of Oneok with a Hold rating and $91 price target. The firm sees limited industry need for natural gas liquids infrastructure growth beyond what has been announced. This will limit Oneok's growth opportunities beyond sanctioned projects, the analyst tells investors in a research note.

JPMorgan

Overweight

maintain

$94 -> $97

2025-07-03

Reason

JPMorgan

Price Target

$94 -> $97

2025-07-03

maintain

Overweight

Reason

JPMorgan raised the firm's price target on Oneok to $97 from $94 and keeps an Overweight rating on the shares. After speaking with the company, marking to market commodity prices, and updating for the Delaware Basin JV buy-in, the firm forecasts Q2 adjusted EBITDA of $2.003B, which it says compares to the $2.0B average Street estimate.

See All Ratings

Valuation Metrics

The current forward P/E ratio for ONEOK Inc (OKE.N) is 12.11, compared to its 5-year average forward P/E of 14.61. For a more detailed relative valuation and DCF analysis to assess ONEOK Inc 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Undervalued

5Y Average PE

14.61

Current PE

12.11

Overvalued PE

16.59

Undervalued PE

12.64

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

Fair

5Y Average EV/EBITDA

10.29

Current EV/EBITDA

9.31

Overvalued EV/EBITDA

11.41

Undervalued EV/EBITDA

9.18

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Fair

5Y Average PS

1.54

Current PS

1.34

Overvalued PS

1.89

Undervalued PS

1.18