Oneok (OKE)
NYSEEnergyOil & Gas MidstreamSnapshot 2026-09-04
$95.43-0.33%
Close 2026-09-04 · 1-day change
NYSEEnergyOil & Gas MidstreamSnapshot 2026-09-04
QuarterlyIQ Insights · OKE
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within energy on a research-validated quality screen. As of 2026-09-04.
The screen ranks OKE against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 4 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Energy names rated neutral grew net income 57% of the time over the next year (vs 56% for the rest of the cohort, n=2314).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue to grow adjusted EBITDA through volume growth, acquisitions, and operational execution across integrated assets.
Stated as a priority in 4 of last 4 quarters. Adjusted EBITDA grew from $8.02 billion in 2025 to a 2026 guidance midpoint of $8.35 billion as of 2026-Q2. Management has consistently increased or affirmed adjusted EBITDA guidance reflecting delivery on volume growth, acquisitions, and operational execution.
“ONEOK increased 2026 adjusted EBITDA guidance to a midpoint of $8.35 billion.”
“Adjusted EBITDA guidance increased to a range of $8.0 billion to $8.5 billion.”
“Affirmed full-year 2025 adjusted EBITDA guidance ranges.”
“Affirmed full-year 2025 adjusted EBITDA guidance ranges.”
Continue disciplined capital spending within the $2.7 billion to $3.2 billion range to support growth projects and maintenance.
Stated as a priority in 4 of last 4 quarters. Capital expenditures totaled approximately $1.477 billion in the first half of 2026, consistent with the maintained full-year guidance range of $2.7 billion to $3.2 billion. Management has consistently reaffirmed disciplined capital allocation within this range.
Raise earnings per diluted share guidance reflecting improved operational performance and acquisitions.
Stated as a priority in 3 of last 4 quarters. EPS guidance increased from a midpoint of $5.53 in 2026-Q1 to $5.68 in 2026-Q2, reflecting operational improvements and acquisitions. Diluted EPS grew from $5.42 in 2025 to the 2026 guidance midpoint, indicating delivery on this priority.
Advance and complete key growth projects including pipeline expansions, processing plants, and export terminal infrastructure.
Stated as a priority in 3 of last 4 quarters. Management has reported nearing completion of key growth projects such as the Denver refined products pipeline expansion and Permian Basin processing plant relocation. While specific dollar or volume milestones are not detailed, progress on these projects supports the stated priority.
“Several strategic growth projects across our footprint are nearing completion, expanding connectivity across key markets.”
Over the trailing year it converted 1.34x of net income into operating cash flow. Historically, Energy names rated fragile grew net income 36% of the time over the next year (vs 47% for the rest of the cohort, n=996).
Most sensitive to the broad stock market and long-term interest rates.
Not enough signal to read sensitivity to the US dollar, Fed net liquidity, real (inflation-adjusted) rates (low R² over the window).
27 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Energy names rated neutral grew net income 58% of the time over the next year (vs 56% for the rest of the cohort, n=807).
Not investment advice. As of 2026-09-04.
“Total 2026 capital expenditure guidance remains unchanged at approximately $2.7 billion to $3.2 billion.”
“Total 2026 capital expenditures are expected to range between $2.7 billion to $3.2 billion.”
“Affirmed full-year 2025 capital expenditure guidance ranges.”
“Affirmed full-year 2025 capital expenditure guidance ranges.”
“Earnings per diluted share increased to a midpoint of $5.68.”
“Earnings per diluted share increased to a midpoint of $5.53.”
“Affirmed full-year 2025 EPS guidance ranges.”
“Completed relocation of a 150 MMcf/d processing plant to the Permian Basin.”
“Announced plans to construct the Bighorn natural gas processing plant, expected mid-2027.”