ONEOK, Inc., together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions. It also gathers, treats, fractionates, and transports natural gas liquids (NGL), as well as stores, markets, and distributes NGL products. The company owns NGL gathering and distribution pipelines in Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado; terminal and storage facilities in Kansas, Missouri, Nebraska, Iowa, and Illinois; and NGL distribution and refined petroleum products pipelines in Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana, as well as owns and operates truck- and rail-loading, and -unloading facilities connected to NGL fractionation, storage, and pipeline assets. In addition, it operates regulated interstate and intrastate natural gas transmission pipelines and natural gas storage facilities. Further, the company owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space. It operates 18,900 miles of natural gas gathering pipelines; 1,500 miles of FERC-regulated interstate natural gas pipelines; 5,100 miles of state-regulated intrastate transmission pipeline; and 6 NGL storage facilities. It serves integrated and independent exploration and production companies; NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; propane distributors; municipalities; ethanol producers; and petrochemical, refining, and NGL marketing companies, as well as natural gas distribution companies, electric generation facilities, industrial companies, producers, processors, and marketing companies. The company was founded in 1906 and is headquartered in Tulsa, Oklahoma.
IPO Year:
Exchange: NYSE
Website: oneok.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/10/2025 | $109.00 | Sector Outperform | Scotiabank |
| 12/18/2024 | $107.00 | Overweight → Equal Weight | Wells Fargo |
| 10/17/2024 | $105.00 | Buy | BofA Securities |
| 9/16/2024 | $103.00 → $111.00 | Equal-Weight → Overweight | Morgan Stanley |
| 2/8/2024 | $76.00 | Neutral → Buy | Seaport Research Partners |
| 1/10/2024 | Underperform → Peer Perform | Wolfe Research | |
| 12/4/2023 | $72.00 → $83.00 | Neutral → Buy | BofA Securities |
| 11/2/2023 | $68.00 | Buy → Hold | Truist |
| 10/3/2023 | Underperform | Pickering Energy Partners | |
| 4/4/2023 | $71.00 → $72.00 | Neutral → Buy | Citigroup |
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Allen to Pursue Ministry Opportunity TULSA, Okla., May 22, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced that Stephen B. Allen, senior vice president, general counsel and assistant secretary will retire in mid-August 2023 after more than 17 years with the company. Allen is leaving ONEOK to join Dallas-based GuideStone, a leading faith-based financial services organization. Allen will continue as an employee through the middle of August as the company focuses on his replacement and will remain available to ONEOK and its management team in key aspects of the recently announced acquisition of Magellan Midstream Partners, L.P. "Stephen's important contributions will leave a lasti
TULSA, Okla., May 25, 2021 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) president and chief executive officer, Terry K. Spencer, announced today that he will retire on September 30, 2021, after 20 years with the company, including more than seven years as president and CEO. Pierce H. Norton II, currently president and chief executive officer of ONE Gas, Inc. (NYSE:OGS) will succeed Spencer as president and CEO of ONEOK on June 28, 2021, at which time he will also join the ONEOK Board. Spencer will remain in his current role until Norton rejoins ONEOK, at which time he will become an Advisor to Norton, allowing for a smooth leadership transition. Spencer will continue as a member of the ONEOK boa
Consideration of 0.1412 shares of ONEOK common stock for each outstanding publicly held EnLink common unit TULSA, Okla., Nov. 24, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) ("ONEOK") and EnLink Midstream, LLC (NYSE:ENLC) ("EnLink") today announced that they have executed a definitive merger agreement under which ONEOK will acquire all of the outstanding publicly held common units of EnLink for $4.3 billion in ONEOK common stock. Under the agreement, each outstanding common unit of EnLink that ONEOK does not already own will be converted into 0.1412 shares of ONEOK common sto
In a release issued under the same headline earlier today by DT Midstream, Inc. (NYSE:DTM), please note that in the "Conference Call" paragraph of the release, the call time should be 9:30 a.m. ET (8:30 a.m. CT) on Wednesday, November 20, rather than 8:00 a.m. ET (7:00 a.m. CT) as previously stated. The corrected release follows: DT Midstream Announces $1.2 Billion Acquisition of Strategic Midwest FERC-Regulated Natural Gas Pipelines Three regulated natural gas transmission pipelines with total capacity of more than 3.7 Bcf/d across the Upper Midwest Premier assets with a high-quality demand-pull customer baseConnected to DTM's existing assets and strategically located to take advantage of
Three regulated natural gas transmission pipelines with total capacity of more than 3.7 Bcf/d across the Upper Midwest Premier assets with a high-quality demand-pull customer baseConnected to DTM's existing assets and strategically located to take advantage of strong power demand fundamentals DETROIT, Nov. 19, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE:DTM) today announced that it has reached an agreement to acquire a portfolio of three FERC-regulated natural gas transmission pipelines from ONEOK, Inc. (NYSE:OKE) for $1.2 billion. The pipelines have a total capacity of more than 3.7 Bcf/d with approximately 1,300 miles across seven states in the attractive Midwest market region
Increases Financial Guidance for the Second Time in 2024 TULSA, Okla., Oct. 29, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced higher third quarter 2024 results and provided 2024 financial guidance on a consolidated basis that includes contributions from EnLink Midstream (EnLink) and the pending Medallion Midstream (Medallion) acquisition. ONEOK also increased its 2024 financial guidance on a stand-alone basis to be comparable with the previous guidance provided on April 30, 2024. Third Quarter 2024 Results, Compared With Third Quarter 2023: Net income of $693 million, resulting in $1.18 per diluted share.Adjusted EBITDA of $1.55 billion.7% increase in Rocky Mountain region NGL
TULSA, Okla., Oct. 16, 2024 /PRNewswire/ -- The board of directors of ONEOK, Inc. (NYSE:OKE) today declared a quarterly dividend of 99 cents per share, unchanged from the previous quarter, resulting in an annualized dividend of $3.96 per share. The dividend is payable Nov. 14, 2024, to shareholders of record at the close of business Nov. 1, 2024. At ONEOK (NYSE:OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crud
TULSA, Okla., Sept. 26, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) will release third quarter 2024 earnings after the market closes on Oct. 29, 2024. Members of ONEOK's management team will participate in a conference call the following day. What: ONEOK third quarter 2024 earnings conference call and webcast When: 11 a.m. Eastern, Oct. 30, 2024 10 a.m. Central Where: 1) Phone conference call dial 877-883-0383, entry number 6520132 2) Log on to the webcast at www.oneok.com If you are unable to participate in the conference call or the webcast, the replay will be available on ONEOK's website, www.oneok.com, for one year. A recording will be available by p
Establishes fully integrated Permian Basin platform at scale Expands and extends footprint in Mid-Continent, North Texas and Louisiana Delivers immediate accretion to EPS and FCF supporting capital allocation strategy Provides significant synergies through complementary asset positions Maintains ONEOK's strong investment-grade credit ratings ONEOK intends to pursue a tax-free acquisition of the EnLink publicly held interests following the closing of this transaction TULSA, Okla., Aug. 28, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) ("ONEOK") today announced that it has executed a definitive agreement with Global Infrastructure Partners ("GIP") under which ONEOK will acquire GIP's entire in
Record Rocky Mountain Region Volumes TULSA, Okla., Aug. 5, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced higher second quarter 2024 results and affirmed full-year 2024 financial guidance. Second Quarter 2024 Results, Compared With Second Quarter 2023: Net income of $780 million, resulting in $1.33 per diluted share.Adjusted EBITDA of $1.6 billion.12% increase in Rocky Mountain region NGL raw feed throughput volumes.10% increase in Rocky Mountain region natural gas volumes processed.19% increase in Natural Gas Liquids segment adjusted EBITDA.14% increase in Natural Gas Pipelines segment adjusted EBITDA."Strong financial and operational performance during the second quarter, su
TULSA, Okla., July 17, 2024 /PRNewswire/ -- The board of directors of ONEOK, Inc. (NYSE:OKE) today declared a quarterly dividend of 99 cents per share, unchanged from the previous quarter, resulting in an annualized dividend of $3.96 per share. The dividend is payable Aug. 14, 2024, to shareholders of record at the close of business Aug. 1, 2024. At ONEOK (NYSE:OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crud
TULSA, Okla., July 8, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) will release second quarter 2024 earnings after the market closes on Aug. 5, 2024. ONEOK's executive management will participate in a conference call the following day. What: ONEOK second quarter 2024 earnings conference call and webcast When: 11 a.m. Eastern, Aug. 6, 2024 10 a.m. Central Where: 1) Phone conference call dial 877-883-0383, entry number 8109595 2) Log on to the webcast at www.oneok.com If you are unable to participate in the conference call or the webcast, the replay will be available on ONEOK's website, www.oneok.com, for one year. A recording will be available by phone for seven days. The playback c
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TULSA, Okla., Jan. 6, 2025 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced two executive leadership appointments, both of which are effective immediately. Randy N. Lentz, chief executive officer and founder of Medallion Midstream, is assuming the newly created position of executive vice president and chief operating officer. In this role, Lentz is responsible for all of ONEOK's asset operations. Sheridan C. Swords, previously executive vice president, commercial liquids and natural gas gathering and processing, is assuming the newly created position of executive vice p
DETROIT, Dec. 31, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE:DTM) today announced that it has successfully closed on the acquisition of a portfolio of three FERC-regulated natural gas transmission pipelines from ONEOK, Inc. (NYSE:OKE), effective as of 11:59 p.m. CT on Dec. 31, 2024, for a total cash consideration of $1.2 billion. "The bolt-on acquisition of these premier pipelines is fully aligned with our pure play natural gas strategy," said David Slater, DT Midstream President and CEO. "This acquisition also increases the revenue contribution from our pipeline segment, supported by take-or-pay contracts with strong credit quality utility customers." "We are happy to have on boa
Guardian, Midwestern and Viking Gas Transmission Pipelines Sold to DT Midstream for $1.2 Billion TULSA, Okla., Dec. 31, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced that it has closed the sale of its three wholly owned interstate natural gas pipeline systems to DT Midstream, Inc. (NYSE:DTM), effective as of 11:59 p.m. Central on Dec. 31, 2024, for a total cash consideration of $1.2 billion, subject to customary adjustments. "The closing of this transaction represents another milestone in the strategic optimization of our integrated asset portfolio and advances o
Special Meeting of EnLink Unitholders Set for Jan. 30, 2025 EnLink's Board of Directors Recommends Unitholders Vote "FOR" All Proposals at the Special Meeting ONEOK Will Vote its EnLink Units "FOR" All Proposals TULSA, Okla., Dec. 31, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) ("ONEOK") and EnLink Midstream, LLC (NYSE:ENLC) ("EnLink") today announced the filing of EnLink's definitive proxy materials with the U.S. Securities and Exchange Commission (the "SEC") in connection with ONEOK's pending acquisition of the remaining publicly held common units of EnLink. The EnLink Speci
TULSA, Okla., Dec. 9, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) will participate in an investor conference this week and in a fireside chat session at 11 a.m. Eastern Time (10 a.m. Central Time) on Tuesday, Dec. 10. The session will be webcast live on ONEOK's website at www.oneok.com. The webcast will also be available for replay. ONEOK's latest investor materials are available at www.oneok.com. At ONEOK (NYSE:OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, n
Includes MB-6 NGL Fractionator and Full Looping of the West Texas NGL Pipeline TULSA, Okla., Dec. 4, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced the completion of MB-6, a 125,000-barrel per day (bpd) natural gas liquids (NGL) fractionator in Mont Belvieu, Texas, and the full looping of the West Texas NGL Pipeline system. The completion of MB-6 increases the company's fractionation capacity to more than 1 million bpd, reducing the need for third-party fractionation and enhancing ONEOK's ability to serve growing NGL market demand. Completion of the full looping of the West Texas NGL Pipeline system expands the capacity to 515,000 bpd. Additional pump stations, which are expect
Consideration of 0.1412 shares of ONEOK common stock for each outstanding publicly held EnLink common unit TULSA, Okla., Nov. 24, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) ("ONEOK") and EnLink Midstream, LLC (NYSE:ENLC) ("EnLink") today announced that they have executed a definitive merger agreement under which ONEOK will acquire all of the outstanding publicly held common units of EnLink for $4.3 billion in ONEOK common stock. Under the agreement, each outstanding common unit of EnLink that ONEOK does not already own will be converted into 0.1412 shares of ONEOK common sto
In a release issued under the same headline earlier today by DT Midstream, Inc. (NYSE:DTM), please note that in the "Conference Call" paragraph of the release, the call time should be 9:30 a.m. ET (8:30 a.m. CT) on Wednesday, November 20, rather than 8:00 a.m. ET (7:00 a.m. CT) as previously stated. The corrected release follows: DT Midstream Announces $1.2 Billion Acquisition of Strategic Midwest FERC-Regulated Natural Gas Pipelines Three regulated natural gas transmission pipelines with total capacity of more than 3.7 Bcf/d across the Upper Midwest Premier assets with a high-quality demand-pull customer baseConnected to DTM's existing assets and strategically located to take advantage of
Assets to be Sold Include Guardian, Midwestern and Viking Gas Transmission TULSA, Okla., Nov. 19, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) ("ONEOK") today announced that it has executed a definitive agreement with DT Midstream, Inc. (NYSE:DTM) ("DT Midstream") under which ONEOK will sell its three wholly owned interstate natural gas pipeline systems for a total cash consideration of $1.2 billion subject to customary adjustments. Based on Federal Energy Regulatory Commission (FERC) filings, the purchase price represents 10.8 times previous 12 months EBITDA as of June 30, 2024. The transaction, unanimously approved by the boards of directors of both ONEOK and DT Midstream, is expected to c
Three regulated natural gas transmission pipelines with total capacity of more than 3.7 Bcf/d across the Upper Midwest Premier assets with a high-quality demand-pull customer baseConnected to DTM's existing assets and strategically located to take advantage of strong power demand fundamentals DETROIT, Nov. 19, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE:DTM) today announced that it has reached an agreement to acquire a portfolio of three FERC-regulated natural gas transmission pipelines from ONEOK, Inc. (NYSE:OKE) for $1.2 billion. The pipelines have a total capacity of more than 3.7 Bcf/d with approximately 1,300 miles across seven states in the attractive Midwest market region
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Scotiabank initiated coverage of ONEOK with a rating of Sector Outperform and set a new price target of $109.00
Wells Fargo downgraded ONEOK from Overweight to Equal Weight and set a new price target of $107.00
BofA Securities resumed coverage of ONEOK with a rating of Buy and set a new price target of $105.00
Morgan Stanley upgraded ONEOK from Equal-Weight to Overweight and set a new price target of $111.00 from $103.00 previously
Seaport Research Partners upgraded ONEOK from Neutral to Buy and set a new price target of $76.00
Wolfe Research upgraded ONEOK from Underperform to Peer Perform
BofA Securities upgraded ONEOK from Neutral to Buy and set a new price target of $83.00 from $72.00 previously
Truist downgraded ONEOK from Buy to Hold and set a new price target of $68.00
Pickering Energy Partners initiated coverage of ONEOK with a rating of Underperform
Citigroup upgraded ONEOK from Neutral to Buy and set a new price target of $72.00 from $71.00 previously