ONEOK Management

Management criteria checks 3/4

ONEOK's CEO is Pierce Norton, appointed in Jun 2021, has a tenure of 3.42 years. total yearly compensation is $9.55M, comprised of 8.7% salary and 91.3% bonuses, including company stock and options. directly owns 0.015% of the company’s shares, worth €9.61M. The average tenure of the management team and the board of directors is 3 years and 7.3 years respectively.

Key information

Pierce Norton

Chief executive officer

US$9.5m

Total compensation

CEO salary percentage	8.7%
CEO tenure	3.4yrs
CEO ownership	0.02%
Management average tenure	3yrs
Board average tenure	7.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Pierce Norton's remuneration changed compared to ONEOK's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$3b
Jun 30 2024	n/a	n/a	US$3b
Mar 31 2024	n/a	n/a	US$2b
Dec 31 2023	US$10m	US$835k	US$3b
Sep 30 2023	n/a	n/a	US$2b
Jun 30 2023	n/a	n/a	US$2b
Mar 31 2023	n/a	n/a	US$2b
Dec 31 2022	US$8m	US$835k	US$2b
Sep 30 2022	n/a	n/a	US$2b
Jun 30 2022	n/a	n/a	US$2b
Mar 31 2022	n/a	n/a	US$2b
Dec 31 2021	US$7m	US$427k	US$1b

Compensation vs Market: Pierce's total compensation ($USD9.55M) is above average for companies of similar size in the German market ($USD4.83M).

Compensation vs Earnings: Pierce's compensation has been consistent with company performance over the past year.

CEO

Pierce Norton (64 yo)

3.4yrs

Tenure

US$9,547,574

Compensation

Mr. Pierce H. Norton, II, is Chairman of the Board of Enlink Midstream Manager, LLC from October 15, 2024. Mr. Norton is Chairman of the Board of EnLink Midstream, LLC from October 15, 2024. He serves as P...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Pierce Norton	President	3.4yrs	US$9.55m	0.015% € 9.6m
Walter Hulse	CFO, Treasurer and Executive VP of Investor Relations & Corporate Development	7.5yrs	US$4.92m	0.031% € 19.1m
Sheridan Swords	Executive Vice President of Commercial Liquids and Natural Gas Gathering & Processing	7.8yrs	US$3.85m	0.039% € 24.2m
Charles Kelley	Senior Vice President of Commercial Natural Gas Pipelines	6.8yrs	US$3.15m	0.024% € 15.1m
Kevin Burdick	Executive VP & Chief Enterprise Services Officer	2.7yrs	US$3.70m	0.027% € 16.8m
Mary Spears	Senior VP and Chief Accounting Officer of Finance & Tax.	5.7yrs	no data	0.0053% € 3.3m
Lyndon Taylor	Executive VP	1.2yrs	no data	0% € 0
J. Wallis	Senior Vice President of Communications & Community Relations	2.3yrs	no data	no data
Scott Schingen	Senior Vice President of Natural Gas Liquids & Natural Gas Operations	1.2yrs	no data	0.0099% € 6.2m
Christy Williamson	Senior Vice President of Commercial	1.2yrs	no data	no data
Gregory Lusardi	Senior Vice President of Corporate Development	3.4yrs	no data	no data
James Hoskin	Senior Vice President of Refined Products & Crude Operations	1.2yrs	no data	0.00072% € 446.8k

3.0yrs

Average Tenure

60yo

Average Age

Experienced Management: ONK's management team is considered experienced (3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Pierce Norton	President	3.4yrs	US$9.55m	0.015% € 9.6m
Pattye Moore	Independent Director	22.8yrs	US$260.40k	0% € 0
Eduardo Rodriguez	Independent Director	20.8yrs	US$271.00k	0.0046% € 2.8m
Julie Edwards	Independent Chairman of the Board	17.4yrs	US$416.82k	0.011% € 6.7m
Gerald Smith	Independent Director	3.9yrs	US$267.50k	no data
Randall Larson	Independent Director	8.9yrs	US$251.00k	0.0051% € 3.1m
Mark Helderman	Independent Director	5.8yrs	US$251.00k	0.0055% € 3.4m
Brian L. Derksen	Independent Director	8.9yrs	US$276.00k	0.0032% € 2.0m
Lori Gobillot	Independent Director	1.2yrs	US$167.67k	0.00024% € 148.9k
Wayne Smith	Independent Director	1.2yrs	US$167.67k	0.00046% € 285.5k

7.3yrs

Average Tenure

66yo

Average Age

Experienced Board: ONK's board of directors are considered experienced (7.3 years average tenure).

ONEOK Management

Management criteria checks 3/4

Key information

Recent management updates

ONEOK, Inc., Annual General Meeting, May 22, 2024

ONEOK, Inc. Announces Board Appointments

ONEOK, Inc. Announces Executive Changes

President recently bought €1.4m worth of stock

ONEOK, Inc. Announces Retirement of Stephen B. Allen as Senior Vice President, Effective Mid-August, 2023

ONEOK, Inc. Announces the Resignation of Robert F. Martinovich as Executive Vice President and Chief Administrative Officer, Effective from December 31, 2022

Recent updates

Investor sentiment improves as stock rises 21%

ONEOK, Inc. (NYSE:OKE) completed the acquisition of Medallion Midstream, LLC from Global Infrastructure Management, LLC.

New major risk - Financial position

Third quarter 2024 earnings released: EPS: US$1.18 (vs US$0.99 in 3Q 2023)

ONEOK, Inc. Increases Consolidated Earnings Guidance for the Year 2024

Second quarter dividend of US$0.99 announced

ONEOK, Inc. Declares Quarterly Dividend, Payable on November 14, 2024

ONEOK, Inc. (NYSE:OKE) completed the acquisition of 43% stake in Enlink Midstream Manager, LLC from GIP III Stetson I, L.P. managed by Global Infrastructure Management, LLC.

ONEOK, Inc. to Report Q3, 2024 Results on Oct 29, 2024

ONEOK, Inc. (NYSE:OKE) executed a definitive agreement to acquire 43% stake in EnLink Midstream, LLC (NYSE:ENLC) from Global Infrastructure Management, LLC for $2.9 billion.

Second quarter 2024 earnings released: EPS: US$1.33 (vs US$1.04 in 2Q 2023)

First quarter dividend of US$0.99 announced

ONEOK, Inc. Declares Quarterly Dividend, Payable on August 14, 2024

ONEOK, Inc. to Report Q2, 2024 Results on Aug 05, 2024

ONEOK, Inc. (NYSE:OKE) completed the acquisition of Gulf Coast Liquids Pipeline System of Easton Energy LLC.

First quarter 2024 earnings released: EPS: US$1.09 (vs US$2.34 in 1Q 2023)

ONEOK, Inc. (NYSE:OKE) completed the acquisition of an additional 10% stake in Saddlehorn Pipeline Company.

Upcoming dividend of US$0.99 per share

Fourth quarter dividend of US$0.99 announced

ONEOK, Inc. Declares Quarterly Dividend, Payable May 15, 2024

ONEOK, Inc. to Report Q1, 2024 Results on Apr 30, 2024

ONEOK, Inc., Annual General Meeting, May 22, 2024

Oneok, Inc. Provides Earnings Guidance for the 2024

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: US$5.49 (vs US$3.85 in FY 2022)

ONEOK, Inc. to Report Q4, 2023 Results on Feb 26, 2024

ONEOK, Inc. (NYSE:OKE) announces an Equity Buyback for $2,000 million worth of its shares.

Now 20% undervalued

New minor risk - Earnings quality

Third quarter 2023 earnings released: EPS: US$0.99 (vs US$0.96 in 3Q 2022)

Now 21% undervalued

ONEOK, Inc. Provides Consolidated Earnings Guidance for the Full Year 2023

Upcoming dividend of US$0.95 per share at 5.7% yield

Oneok, Inc. Declares Quarterly Dividend, Payable on November 14, 2023

ONEOK, Inc. to Report Q3, 2023 Results on Oct 31, 2023

ONEOK, Inc. Announces Board Appointments

New minor risk - Shareholder dilution

ONEOK, Inc. (NYSE:OKE) acquired Magellan Midstream Partners, L.P. (NYSE:MMP) from ALPS ETF Trust - Alerian MLP ETF (ARCA:AMLP), managed by ALPS Advisors, Inc. and others.

ONEOK, Inc. Announces Executive Changes

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released: EPS: US$1.04 (vs US$0.93 in 2Q 2022)

ONEOK, Inc. Declares Quarterly Dividend, Payable on August 14, 2023

ONEOK, Inc. to Report Q2, 2023 Results on Aug 07, 2023

ONEOK, Inc. to Report Q2, 2023 Results on Aug 07, 2023

President recently bought €1.4m worth of stock

ONEOK, Inc. Announces Retirement of Stephen B. Allen as Senior Vice President, Effective Mid-August, 2023

ONEOK, Inc. (NYSE:OKE) entered into a definitive merger agreement to acquire Magellan Midstream Partners, L.P. (NYSE:MMP) for $13.8 billion.

First quarter 2023 earnings released: EPS: US$2.34 (vs US$0.87 in 1Q 2022)

Now 21% undervalued after recent price drop

Full year 2022 earnings released: EPS: US$3.85 (vs US$3.36 in FY 2021)

ONEOK, Inc. Increases Quarterly Dividend, payable on February 14, 2023

ONEOK, Inc. to Report Q4, 2022 Results on Feb 27, 2023

ONEOK, Inc. Announces the Resignation of Robert F. Martinovich as Executive Vice President and Chief Administrative Officer, Effective from December 31, 2022

Third quarter 2022 earnings released: EPS: US$0.96 (vs US$0.88 in 3Q 2021)

Upcoming dividend of US$0.94 per share

ONEOK, Inc. Declares Quarterly Dividend, Payable on November 14, 2022

Now 21% undervalued

ONEOK, Inc. to Report Q3, 2022 Results on Nov 01, 2022

Janet L. Hogan Joins ONEOK, Inc. as Senior Vice President, Chief Human Resources Officer

ONEOK, Inc. Announces Appointment of J. Darren Wallis as Senior Vice President, Communications and Community Relations

ONEOK, Inc. Announces Appointment of Darren Wallis as Senior Vice President, Communications and Community Relations

Second quarter 2022 earnings released: EPS: US$0.93 (vs US$0.77 in 2Q 2021)

ONEOK Declares Quarterly Dividend, Payable on Aug. 15, 2022

ONEOK, Inc. to Report Q2, 2022 Results on Aug 08, 2022

President recently bought €476k worth of stock

Investor sentiment deteriorated over the past week

Now 21% undervalued

Now 22% undervalued

Now 21% undervalued