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94.99 USD
P/E
15.99
EPS
5.94
Yield
4.48%
Safety Score
49
P/B
2.68
ROE
16.28
Beta
0.72
Target Price
96.29 USD
ONEOK, Inc. logo

ONEOK, Inc.

🧾 Earnings Recap – Q2 2026

ONEOK shares declined 1.1% following the quarter, reflecting investor caution despite management's raised guidance and volume growth, likely due to concerns over margin trends or cautious long-term execution risks rather than top-line momentum.

  • Q2 net income was $967 million, or $1.53 per diluted share, up 13% year-over-year.
  • Adjusted EBITDA reached $2.12 billion, a 7% increase supported by volume growth and strong segment performance.
  • Raised 2026 financial guidance for the second time, with net income midpoint at $3.6 billion and adjusted EBITDA at $8.35 billion.
  • Capital expenditure guidance remains $2.7-3.2 billion, with spending expected to accelerate in H2 as large projects near completion.
  • Management highlighted operational execution and expanding processing capacity in the Permian Basin, with new projects coming online through 2027.
📅
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Key Metrics
Earnings dateOct. 27, 2026
P/E15.99
EPS5.94
Book Value35.49
Price to Book2.68
Debt/Equity143.07
% Insiders0.152%
Growth
Revenue Growth0.53%
Earnings Growth0.14%
Estimates
Forward P/E15.12
Forward EPS6.28
Target Mean Price96.29
Dividend
Dividend Yield4.48%
Annual dividends4.24 USD
Ex-Div. DateAug. 3, 2026
Payout72.28%
5y avg Yield6.51%

DCF Valuation

Tweak assumptions to recompute fair value for ONEOK, Inc. (OKE)
Currency: USD
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Decimal (e.g., 0.04 = 4%).
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Percent number (e.g., 10 = 10%).
Percent number (e.g., 5 = 5%).
DCF Result

Fair Value (DCF)
Current Price
Upside
WACC
Terminal PV
Σ PV of FCFs
Note: historical bars show reported FCF (for context); forward bars show PV of projected FCF; if no per-year data, totals are shown.

ONEOK, Inc. Logo ONEOK, Inc. Analysis (OKE)

United States Financials Official Website Stock

Is ONEOK, Inc. a good investment? ONEOK, Inc. (OKE) is currently trading at 94.99 USD. Market analysts have a consensus price target of 96.29 USD. This suggests a potential upside from current levels.

In terms of valuation, the stock trades at a P/E ratio of 15.99. This valuation is generally in line with the broader market.

Earnings Schedule: ONEOK, Inc. is expected to release its next earnings report on Oct. 27, 2026. The market consensus estimate for Forward EPS is 6.28.

For income investors, ONEOK, Inc. pays a dividend yield of 4.48%. With a payout ratio of 72%, the dividend appears sustainable.

Investor FAQ

Does ONEOK, Inc. pay a dividend?

Yes, it pays an annual dividend of 4.24 USD (4.48% yield).

What asset class is ONEOK, Inc.?

ONEOK, Inc. is classified as a Stock. You can compare it against 2 other assets in the "Related Symbols" list on this page.

When is the next earnings date?

The next earnings date is projected to be Oct. 27, 2026. The company currently has a trailing EPS of 5.94.

Company Profile

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.

Exchange Ticker
NYQ (United States) OKE
LSE (United Kingdom) 0KCI.L
Trades
Dividend Yield
4.48%
5y avg 6.51%
Annual Dividends
4.24USD
Next Ex. Div Date
Aug. 3, 2026
Payout Ratio
72.28%
Dividend History paid per year (USD)
Historical Dividends
Year Total Dividends
2027
2.17 USD
May 17, 2027 (estimated) 1.0855
Feb. 15, 2027 (estimated) 1.0855
2026
4.25 USD
Nov. 16, 2026 (estimated) 1.0449
Aug. 14, 2026 1.0700
May 15, 2026 1.0700
Feb. 13, 2026 1.0700
2025
4.12 USD
Nov. 14, 2025 1.0300
Aug. 14, 2025 1.0300
May 15, 2025 1.0300
Feb. 14, 2025 1.0300
2024
3.96 USD
Nov. 14, 2024 0.9900
Aug. 14, 2024 0.9900
May 15, 2024 0.9900
Feb. 14, 2024 0.9900
2023
3.82 USD
Nov. 14, 2023 0.9550
Aug. 14, 2023 0.9550
May 15, 2023 0.9550
Feb. 14, 2023 0.9550
2022
3.74 USD
Nov. 14, 2022 0.9350
Aug. 15, 2022 0.9350
May 16, 2022 0.9350
Feb. 14, 2022 0.9350
2021
3.74 USD
Nov. 15, 2021 0.9350
Aug. 16, 2021 0.9350
May 14, 2021 0.9350
Feb. 12, 2021 0.9350
2020
3.74 USD
Nov. 13, 2020 0.9350
Aug. 14, 2020 0.9350
May 14, 2020 0.9350
Feb. 14, 2020 0.9350
2019
3.53 USD
Nov. 14, 2019 0.9150
Aug. 14, 2019 0.8900
May 15, 2019 0.8650
Feb. 14, 2019 0.8600
2018
3.25 USD
Nov. 14, 2018 0.8550
Aug. 14, 2018 0.8250
May 15, 2018 0.7950
Feb. 14, 2018 0.7700
2017
2.72 USD
Nov. 14, 2017 0.7450
Aug. 14, 2017 0.7450
May 15, 2017 0.6150
Feb. 14, 2017 0.6150
2016
2.46 USD
Nov. 14, 2016 0.6150
Aug. 14, 2016 0.6150
May 13, 2016 0.6150
Feb. 12, 2016 0.6150
2015
2.43 USD
Nov. 13, 2015 0.6150
Aug. 14, 2015 0.6050
May 15, 2015 0.6050
Feb. 13, 2015 0.6050
2014
2.13 USD
Nov. 14, 2014 0.5900
Aug. 14, 2014 0.5750
May 15, 2014 0.5600
Feb. 18, 2014 0.4000
2013
1.43 USD
Nov. 14, 2013 0.3800
Aug. 15, 2013 0.3327
May 15, 2013 0.3600
Feb. 14, 2013 0.3600
2012
2.37 USD
Nov. 14, 2012 0.2889
Aug. 15, 2012 0.3300
May 15, 2012 0.6100
May 15, 2012 0.2670
Feb. 14, 2012 0.6100
Feb. 14, 2012 0.2670
2011
3.11 USD
Nov. 14, 2011 0.5600
Nov. 14, 2011 0.2451
Aug. 12, 2011 0.2451
Aug. 12, 2011 0.5600
May 13, 2011 0.2276
May 13, 2011 0.5200
Feb. 14, 2011 0.5200
Feb. 14, 2011 0.2276
2010
2.62 USD
Nov. 12, 2010 0.2101
Nov. 12, 2010 0.4800
Aug. 13, 2010 0.4600
Aug. 13, 2010 0.2014
May 14, 2010 0.4400
May 14, 2010 0.1926
Feb. 12, 2010 0.1926
Feb. 12, 2010 0.4400
2009
2.36 USD
Nov. 13, 2009 0.4200
Nov. 13, 2009 0.1839
Aug. 14, 2009 0.4200
Aug. 14, 2009 0.1839
May 15, 2009 0.4000
May 15, 2009 0.1751
Feb. 13, 2009 0.1751
Feb. 13, 2009 0.4000
2008
2.24 USD
Nov. 14, 2008 0.1751
Nov. 14, 2008 0.4000
Aug. 14, 2008 0.4000
Aug. 14, 2008 0.1751
May 15, 2008 0.1663
May 15, 2008 0.3800
Feb. 14, 2008 0.3800
Feb. 14, 2008 0.1663
2007
2.01 USD
Nov. 14, 2007 0.3600
Nov. 14, 2007 0.1576
Aug. 14, 2007 0.1576
Aug. 14, 2007 0.3600
May 14, 2007 0.3400
May 14, 2007 0.1488
Feb. 15, 2007 0.1488
Feb. 15, 2007 0.3400
2006
1.75 USD
Nov. 15, 2006 0.1401
Nov. 15, 2006 0.3200
Aug. 14, 2006 0.3200
Aug. 14, 2006 0.1401
May 15, 2006 0.3000
May 15, 2006 0.1313
Feb. 15, 2006 0.1226
Feb. 15, 2006 0.2800
2005
1.57 USD
Nov. 15, 2005 0.2800
Nov. 15, 2005 0.1226
Aug. 15, 2005 0.2800
Aug. 15, 2005 0.1226
May 16, 2005 0.2800
May 16, 2005 0.1226
Feb. 15, 2005 0.2500
Feb. 15, 2005 0.1094
2004
1.27 USD
Nov. 15, 2004 0.1094
Nov. 15, 2004 0.2500
Aug. 16, 2004 0.2300
Aug. 16, 2004 0.1007
May 14, 2004 0.0919
May 14, 2004 0.2100
Feb. 16, 2004 0.1900
Feb. 16, 2004 0.0832
2003
0.99 USD
Nov. 14, 2003 0.0788
Nov. 14, 2003 0.1800
Aug. 15, 2003 0.0744
Aug. 15, 2003 0.1700
May 15, 2003 0.1700
May 15, 2003 0.0744
Feb. 17, 2003 0.0744
Feb. 17, 2003 0.1700
2002
0.89 USD
Nov. 15, 2002 0.1550
Nov. 15, 2002 0.0679
Aug. 15, 2002 0.0679
Aug. 15, 2002 0.1550
May 15, 2002 0.1550
May 15, 2002 0.0679
Feb. 15, 2002 0.0679
Feb. 15, 2002 0.1550
2001
1.20 USD
Nov. 15, 2001 0.0679
Nov. 15, 2001 0.1550
Aug. 15, 2001 0.0679
Aug. 15, 2001 0.1550
May 15, 2001 0.3100
May 15, 2001 0.0679
Feb. 15, 2001 0.3100
Feb. 15, 2001 0.0679
2000
1.51 USD
Nov. 15, 2000 0.3100
Nov. 15, 2000 0.0679
Aug. 15, 2000 0.3100
Aug. 15, 2000 0.0679
May 15, 2000 0.3100
May 15, 2000 0.0679
Feb. 15, 2000 0.3100
Feb. 15, 2000 0.0679
1999
1.51 USD
Nov. 15, 1999 0.0679
Nov. 15, 1999 0.3100
Aug. 13, 1999 0.3100
Aug. 13, 1999 0.0679
May 14, 1999 0.0679
May 14, 1999 0.3100
Feb. 12, 1999 0.0679
Feb. 12, 1999 0.3100
1998
1.47 USD
Nov. 13, 1998 0.3100
Nov. 13, 1998 0.0679
Aug. 14, 1998 0.0657
Aug. 14, 1998 0.3000
May 15, 1998 0.3000
May 15, 1998 0.0657
Feb. 13, 1998 0.3000
Feb. 13, 1998 0.0657
1997
1.46 USD
Nov. 14, 1997 0.0657
Nov. 14, 1997 0.3000
Aug. 15, 1997 0.3000
Aug. 15, 1997 0.0657
May 15, 1997 0.3000
May 15, 1997 0.0657
Feb. 14, 1997 0.3000
Feb. 14, 1997 0.0657
1996
1.45 USD
Nov. 15, 1996 0.0657
Nov. 15, 1996 0.3000
Aug. 15, 1996 0.3000
Aug. 15, 1996 0.0657
May 15, 1996 0.3000
May 15, 1996 0.0657
Feb. 15, 1996 0.0635
Feb. 15, 1996 0.2900
1995
1.38 USD
Nov. 15, 1995 0.2900
Nov. 15, 1995 0.0635
Aug. 15, 1995 0.0613
Aug. 15, 1995 0.2800
May 15, 1995 0.2800
May 15, 1995 0.0613
Feb. 15, 1995 0.2800
Feb. 15, 1995 0.0613
1994
1.37 USD
Nov. 15, 1994 0.2800
Nov. 15, 1994 0.0613
Aug. 15, 1994 0.2800
Aug. 15, 1994 0.0613
May 13, 1994 0.0613
May 13, 1994 0.2800
Feb. 15, 1994 0.2800
Feb. 15, 1994 0.0613
1993
1.32 USD
Nov. 15, 1993 0.2700
Nov. 15, 1993 0.0591
Aug. 13, 1993 0.2700
Aug. 13, 1993 0.0591
May 14, 1993 0.2700
May 14, 1993 0.0591
Feb. 12, 1993 0.2700
Feb. 12, 1993 0.0591
1992
1.22 USD
Nov. 13, 1992 0.2500
Nov. 13, 1992 0.0547
Aug. 14, 1992 0.2500
Aug. 14, 1992 0.0547
May 15, 1992 0.2500
May 15, 1992 0.0547
Feb. 14, 1992 0.0547
Feb. 14, 1992 0.2500
1991
1.02 USD
Nov. 15, 1991 0.0460
Nov. 15, 1991 0.2100
Aug. 15, 1991 0.2100
Aug. 15, 1991 0.0460
May 15, 1991 0.2100
May 15, 1991 0.0460
Feb. 15, 1991 0.0460
Feb. 15, 1991 0.2100
1990
1.12 USD
Nov. 15, 1990 0.1900
Nov. 15, 1990 0.0416
Aug. 15, 1990 0.0416
Aug. 15, 1990 0.1900
May 15, 1990 0.0416
May 15, 1990 0.1900
Feb. 15, 1990 0.0416
Feb. 15, 1990 0.3800
1989
1.44 USD
Nov. 15, 1989 0.3500
Nov. 15, 1989 0.0383
Aug. 15, 1989 0.0383
Aug. 15, 1989 0.3500
May 15, 1989 0.0328
May 15, 1989 0.3000
Feb. 15, 1989 0.3000
Feb. 15, 1989 0.0328
1988
0.71 USD
Feb. 15, 1988 0.0700
Feb. 15, 1988 0.6400
1987
2.84 USD
Nov. 13, 1987 0.6400
Nov. 13, 1987 0.0700
Aug. 14, 1987 0.0700
Aug. 14, 1987 0.6400
May 15, 1987 0.0700
May 15, 1987 0.6400
Feb. 13, 1987 0.6400
Feb. 13, 1987 0.0700
1986
2.84 USD
Oct. 27, 1986 0.0700
Oct. 27, 1986 0.6400
July 25, 1986 0.0700
July 25, 1986 0.6400
April 24, 1986 0.6400
April 24, 1986 0.0700
Jan. 27, 1986 0.6400
Jan. 27, 1986 0.0700
1985
1.42 USD
Oct. 25, 1985 0.0700
Oct. 25, 1985 0.6400
July 25, 1985 0.0700
July 25, 1985 0.6400
Upcoming Dividends
Name Payment Date Status Amount
ONEOK, Inc. Aug 14, 2026 1.07 USD
ONEOK, Inc. May 15, 2026 1.07 USD
ONEOK, Inc. Feb 13, 2026 1.07 USD
ONEOK, Inc. Nov 14, 2025 1.03 USD
Stock Splits
Split Date Split Ratio to 1
March 1, 1990 2.000000
June 12, 2001 2.000000
June 4, 2012 2.000000
Feb. 3, 2014 1.140000
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