ONEOK Inc (OKE)
Official siteENERGY • OIL & GAS MIDSTREAM • NYSE
Market Cap: $59.73B
Last updated: Sep 01, 2026 at 10:00 AM ET
Earnings
Performance (10Y)
Upcoming Estimates
Dividends
Dividend Metrics
Growth
Key Metrics
Technical Indicators Dashboard
Moving Averages
MACD
ADX
Aroon & PSAR
Bollinger Bands
RSI (14-Day)
Momentum Oscillators
Volatility Measures
Volume Flow
Volume Metrics
Pivot Points
Advanced Oscillators
Financial Data
Related GNG Research
6 Midstream C-Corps Ranked: The Right Pipeline Stock For Every Portfolio
TOLL+ scorecard assigns 20 points each to Tangible Assets, Oligopoly, Low Incremental CapEx, Long-Duration Cash Flows, Macro Thematic Alignment - primary filter for >10-year C-Corp midstream winners Williams (95/100) - 10,000-mile Transco moves ~15% of US gas, WMB moves ~33% of US gas, 2026 adj. EBITDA guide $8.05-8.35bn, $9.6bn data-center power strategy with 682MW "Neo" and 10-12.5yr contracts Kinder Morgan (91/100) - touches ~40% of US gas flows, large underground storage and interconnectivity act as shock absorbers, storage +4% vs demand +55% since 2013, low incremental capex supports Gulf export exposure Yield and 5yr CAGR snapshot - WMB 3.0%/4.7%, KMI 4.0%/2.1%, TRGP 2.0%/25.0% (skewed), DTM 2.5%/8.6%, AM 4.3%/0% (no hikes, buybacks), OKE 5.1%/2.4%
The Next Energy Boom Won't Look Like The Last One
Market regime shift from 2021-22 Net Zero/ESG orthodoxy to explicit "Energy Pragmatism" - traditional energy assets are being structurally revalued and present material mispricing opportunities We are in a "Geopolitical Super-Volatility" era - almost a decade of underinvestment in supply plus rolling geopolitical shocks means prices won't self-correct via rapid new supply Portfolio imperative - avoid commodity trading, overweight lowest-cost, capital-disciplined producers and midstream operators able to compound shareholder value through extreme volatility AI and hyperscale demand create massive baseload needs - Williams forecasts 66% electricity demand growth from data centers to 2035, 3.4x on-grid demand, and ~$2 trillion hyperscaler spend 2026-2030 Geopolitical fragility - conflicts in Eastern Europe, persistent Middle East risk and supply chain blockades increase energy security premiums, favoring tangible physical assets and infrastructure plays
My Favorite Way To Invest In This Market
The AI-driven CapEx boom is forcing massive capital into the real economy, creating powerful tailwinds for industrials, energy, materials, and other “real asset” sectors rather than traditional asset-light tech. A growing “no landing” economic scenario, combined with strong nominal growth and resilient earnings, supports continued market strength—but also reinforces a major rotation toward cyclical value and dividend-growing com The best opportunities now lie in companies benefiting from broadening economic growth, attractive valuations relative to growth potential, and consistent dividend growth that protects income against inflation. As a result, I am focusing on industrials, energy, midstream, and select value stocks while becoming more selective with high-beta, data center-dependent plays to manage risk and position for long-term alpha.
Why ONEOK's 5% Cash Yield Is the Setup Midstream Investors Have Been Waiting For
OKE is roughly 6% below blended fair value of $91.40 with a 5.0% yield and 4% dividend hike in Jan 2026 Growth Score hits 98 (top decile) while Value Score registers 85; the income compounder math is real at 14x forward earnings Cash flow predictability at the 96th percentile, but FCF coverage slipped to 0.97x in early 2025 before rebounding to 1.27x in Q3 Altman Z of 1.5 sits in the grey zone with D/E of 1.5 and $33B net debt; leverage is the swing factor capping conviction at BUY Weinstein Stage 2 just triggered on the weekly chart with price above the 200DMA (~$76); early trend entry with a yield floor ROIC-WACC spread of +1.6% looks thin, but new assets dropping EBITDA onto existing capital should widen the spread as 2026 guidance plays out Price sits at upper edge of buy zone, reinforcing staged entry discipline: start 1/3 size, add on pullbacks
When $40s Oil Becomes Your Entry Signal: The Midstream Anomaly Nobody's Talking About
A move into the $40s for oil would hurt sentiment across energy, but midstream MLPs (EPD, MPLX, OKE) are far more exposed to volumes and rates than to spot oil prices. Integrated majors (XOM, CVX) are partially insulated by downstream and chemicals; they feel the pain in upstream earnings, but their dividends remain well covered at $40–$45 oil in most scenarios. For the next 12 months, we see more volatility than true fundamental damage for quality midstream: base case is “flat to modestly up,” with high single-digit yields doing most of the work. In a deeper bear case (oil stuck near $40), we see another 10–20% downside for midstream prices, but yields would move into 9–10%+ “strong buy” territory, historically attractive entry points. Strategy: Keep core EPD/MPLX/OKE positions for income, trim only if you are overweight or extremely risk-averse, and be ready with clear re-entry bands if panic selling pushes yields to double digits.
News
Frequently Asked Questions About OKE
- What is OKE's current dividend yield?
- ONEOK Inc (OKE) has a current dividend yield of 4.42%.
- Does OKE pay dividends?
- Yes, ONEOK Inc pays dividends with a current yield of 4.42%.
- What is OKE's P/E ratio?
- ONEOK Inc has a price-to-earnings (P/E) ratio of 16.35.
- What is OKE's market cap?
- ONEOK Inc (OKE) has a market capitalization of $59.73B with a current stock price of $96.00.
Get full access to GNG Research
Create a free account to access portfolio tracking, advanced tools, and more.