ONEOK, Inc.

NYSE:OKE Stock Report

Market Cap: US$56.9b

ONEOK Future Growth

Future criteria checks 1/6

ONEOK is forecast to grow earnings and revenue by 6.2% and 1.5% per annum respectively. EPS is expected to grow by 7.1% per annum. Return on equity is forecast to be 17.5% in 3 years.

Key information

6.2%

Earnings growth rate

7.15%

EPS growth rate

Oil and Gas earnings growth5.2%
Revenue growth rate1.5%
Future return on equity17.50%
Analyst coverage

Good

Last updated01 May 2026

Recent future growth updates

Recent updates

Industry Analysts Just Made An Upgrade To Their ONEOK, Inc. (NYSE:OKE) Revenue Forecasts

May 01
Industry Analysts Just Made An Upgrade To Their ONEOK, Inc. (NYSE:OKE) Revenue Forecasts

OKE: Diversified Footprint And Operating Leverage Will Capture Future Gas Demand

ONEOK's updated analyst price target reflects a modest reset in fair value to about $110, as analysts factor in slightly lower projected profit margins along with steady revenue growth assumptions and a marginally higher forward P/E of roughly 20x. Analyst Commentary Recent Street research on ONEOK shows a cluster of upward price target moves and upgrades that point to a generally constructive stance on the shares, even as analysts incorporate more cautious margin and growth assumptions into their models.

ONEOK Delivers Strong Q3 2025 Earnings with Volume Growth, Synergy Realization, and Disciplined Balance Sheet Management

Analyst: Qudus Adebara (Founder of Wane Investment House) Executive Summary ONEOK Inc. delivered a solid third-quarter 2025 performance, reflecting the strength of its integrated midstream asset base and the successful execution of post-acquisition integration strategies.

OKE: Future Gas Demand And Diversified Footprint Will Support Upside

ONEOK's analyst price target has been raised from $108.00 to about $110.77, as analysts factor in updated views on revenue growth, profit margins and future P/E expectations, reflected in recent target hikes and rating changes across major firms. Analyst Commentary Recent research updates on ONEOK focus on higher price targets and rating shifts that signal improving confidence in the company’s execution and earnings power.

ONEOK: Bullish Setup Remains Despite Slower Near-Term Growth

Apr 13

OKE: Future Gas Demand And Operating Leverage Will Drive Upside

ONEOK's analyst fair value target has shifted from $118.38 to $108.00 as analysts reset growth and valuation assumptions, while still pointing to a mix of recent upgrades, target tweaks and neutral initiations that reflect ongoing debate around the company's long term volume growth and earnings trajectory. Analyst Commentary Recent Street research around ONEOK highlights a split view, with some firms trimming targets and others turning more constructive.

OKE: Flat 2026 Guidance And Reset Year Will Restrain P/E Upside

Analysts have adjusted their price targets for ONEOK in a tight range, with changes between $2 and $11 up or down, as they balance concerns around the flat 2026 outlook with views that the company's diversified footprint and operating leverage could support future upside in gas demand. Analyst Commentary Recent research around ONEOK centers on how much confidence to place in the medium term outlook, especially with 2026 guidance essentially flat versus 2025 and described by some as a transition year.

OKE: Flat 2026 Outlook Will Cap P/E Upside Potential

Analysts have lifted their blended price target for ONEOK by $2 to reflect a slightly higher fair value estimate of $74, even as they flag softer revenue growth and profit margin assumptions following mixed 2026 guidance from recent research updates. Analyst Commentary Street research around ONEOK has been mixed, with several firms updating their price targets and ratings following the latest Q4 results and 2026 guidance.

OKE: Dividend, Execution And P/E Reset Will Shape Future Confidence

ONEOK's analyst price target has undergone a modest reset, reflecting a small fair value adjustment to about $87 and a lower future P/E assumption, as analysts collectively temper expectations following a series of recent target cuts and rating changes alongside one upward revision. Analyst Commentary Recent research on ONEOK clusters around a mix of recalibrated targets and a fresh neutral stance, with several firms trimming price objectives and one raising its target.

OKE: Dividend Increase And Execution Risks Will Shape Future Earnings Confidence

Analysts have nudged their blended fair value estimate for ONEOK lower from US$88.63 to about US$87.50. This reflects a mix of recent target cuts and a few upward revisions as firms reassess discount rates, revenue growth assumptions, profit margin expectations and future P/E levels.

ONEOK (NYSE:OKE) Has Announced That It Will Be Increasing Its Dividend To $1.07

Jan 25
ONEOK (NYSE:OKE) Has Announced That It Will Be Increasing Its Dividend To $1.07

OKE: Mixed Price Views Will Frame P/E Reset And Execution Risks

Analysts have trimmed their fair value estimate for ONEOK from US$82 to US$72, tying the change to updated views on revenue growth, profit margins, and a lower future P/E multiple despite a slightly reduced discount rate. Analyst Commentary Recent Street research on ONEOK points to a mixed tone, with some analysts trimming price targets even as others make modest upward adjustments.

OKE: Q3 Synergy Delivery Will Drive Earnings Confidence And Multiple Upside

Analysts have modestly reduced their price target on ONEOK, trimming it by $5 to $78 per share. They are awaiting Q3 results, which they see as a critical test of the company's ability to deliver on synergy goals and sustain earnings growth.

OKE: Future Synergy Delivery Will Drive Multiple Stabilization And Cash Return Upside

Analysts have nudged their price targets on ONEOK slightly lower, trimming them by about $5 per share to reflect modestly higher discount rate assumptions and a wait and see stance on synergy realization and multiple stabilization following recent acquisitions. Analyst Commentary Recent Street commentary reflects a more balanced stance on ONEOK, with valuation resetting modestly lower even as long term growth and synergy narratives remain intact.

OKE: Future Cash Returns Will Drive Multiple Stabilization And Share Price Upside

Analysts have trimmed their consolidated price target on ONEOK by a few dollars per share, reflecting slightly lower fair value assumptions amid caution around near term multiple compression and the need to see clearer synergy capture and cash return discipline before re rating the stock higher. Analyst Commentary Recent Street research reflects a more nuanced stance on ONEOK, with updated price targets incorporating both the benefits of recent acquisitions and the risks around execution, capital allocation, and valuation normalization versus peers.

OKE: Upcoming Cash Returns And Fed Policy Changes Will Drive Share Price Momentum

The average analyst price target for ONEOK has been reduced modestly. Analysts cite updated assessments of sector growth, evolving company multiples, and a renewed investor preference for cash returns as key factors behind their revisions.

OKE: Upcoming Buybacks And Larger Asset Base Will Support Share Price Momentum

ONEOK's average analyst price target has been reduced. Most recent estimates have moved lower by several dollars per share, as analysts cite concerns about slowing revenue growth, shifting investor priorities toward return of cash, and the evolving impact of recent acquisitions on earnings multiples.

Synergy Progress and Market Volatility Will Shape Midstream Expansion Ahead

ONEOK's fair value estimate has been lowered by analysts from $93.32 to $90.84 per share. This change reflects recent price target reductions, which are driven by a cautious outlook on synergy realization, evolving growth expectations, and continued macroeconomic uncertainty.

Global Energy Demand Will Empower US Midstream Expansion

ONEOK's analyst price target has been lowered by approximately $1.63 to $93.32. Analysts cite recent sector-wide price target revisions, along with a focus on synergy execution, multiple stabilization, and commodity market headwinds as key factors behind the update.

Global Energy Demand Will Empower US Midstream Expansion

ONEOK’s consensus price target was modestly reduced as analysts cite near-term commodity price pressure and a diminished long-term growth outlook due to sector-wide infrastructure limits, partially offsetting positive integration efforts and resulting in a modest downward fair value revision to $94.94. Analyst Commentary Bullish analysts expect investor focus to shift from growth to return of cash, emphasizing capital discipline, dividends, and buybacks as key valuation drivers.

Global Energy Demand Will Empower US Midstream Expansion

ONEOK’s consensus price target was modestly reduced to $96.44 as analysts weighed ongoing commodity price and macroeconomic headwinds, limited near-term NGL growth opportunities, and sector uncertainty against strong execution, synergy benefits, and robust EBITDA, resulting in a slight downward revision of fair value. Analyst Commentary Analyst price target reductions reflect ongoing commodity price headwinds and macroeconomic volatility, particularly concerns about lower hydrocarbon prices into 2026.

Industry Analysts Just Made A Substantial Upgrade To Their ONEOK, Inc. (NYSE:OKE) Revenue Forecasts

Jul 01
Industry Analysts Just Made A Substantial Upgrade To Their ONEOK, Inc. (NYSE:OKE) Revenue Forecasts

Is ONEOK (NYSE:OKE) Using Too Much Debt?

Jun 20
Is ONEOK (NYSE:OKE) Using Too Much Debt?

Here's Why We Think ONEOK (NYSE:OKE) Might Deserve Your Attention Today

Jun 02
Here's Why We Think ONEOK (NYSE:OKE) Might Deserve Your Attention Today

Here's Why Shareholders Will Not Be Complaining About ONEOK, Inc.'s (NYSE:OKE) CEO Pay Packet

May 14
Here's Why Shareholders Will Not Be Complaining About ONEOK, Inc.'s (NYSE:OKE) CEO Pay Packet

ONEOK's (NYSE:OKE) Shareholders May Want To Dig Deeper Than Statutory Profit

May 07
ONEOK's (NYSE:OKE) Shareholders May Want To Dig Deeper Than Statutory Profit

ONEOK: A Growth Engine In The Midstream Space

Mar 04

ONEOK: Pullback Presents An Opportunity On Increasing NG Demand

Feb 17

ONEOK: Top Of The Food-Chain Energy Pick For 2025

Feb 07

ONEOK: A Solid Midstream Play

Dec 28

ONEOK Expands Deeper Into The Oil Pipeline Business

Dec 05

ONEOK Finishes The Job In Picking Up EnLink Midstream

Nov 27

ONEOK: Where Dividends Flow Like Oil - A 4.2% Yield You Can't Miss

Nov 04

ONEOK Vs. Williams Companies: Which High-Yield Is The Better Buy?

Sep 30

Pipeline Payday: Buying 4.5%-Yielding ONEOK Before It's Too Late

Aug 27
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Rocky Mountain Success And Calculated Acquisitions Set To Boost Market Position And Financial Health

Expansion in the Rocky Mountain region and strategic acquisitions are driving revenue and EBITDA growth, with a focus on improving operational efficiency.

ONEOK: Williston Processing Margins At Risk

Aug 09

Pipeline Profits: Why 4.7%-Yielding ONEOK Is Gushing With Potential

Jul 16

Earnings and Revenue Growth Forecasts

NYSE:OKE - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202838,3484,2094,5376,9168
12/31/202737,1103,8824,1576,7339
12/31/202638,6623,6513,2736,0406
3/31/202635,2043,5312,2425,629N/A
12/31/202533,6293,3932,4475,599N/A
9/30/202531,5643,3392,9205,664N/A
6/30/202527,9533,0922,8835,291N/A
3/31/202524,9603,0313,0585,196N/A
12/31/202421,6983,0342,8674,888N/A
9/30/202419,9332,7992,7234,785N/A
6/30/202419,0992,5602,4624,454N/A
3/31/202417,9372,2481,9783,796N/A
12/31/202317,6772,6582,8264,421N/A
9/30/202317,4742,4552,6453,953N/A
6/30/202319,1992,4332,4123,649N/A
3/31/202321,4632,3792,4303,664N/A
12/31/202222,3871,7211,7042,906N/A
9/30/202222,7751,6151,8292,921N/A
6/30/202221,3981,5761,7872,718N/A
3/31/202218,7911,5041,6992,476N/A
12/31/202116,5401,4991,8492,546N/A
9/30/202113,6901,4271,5252,287N/A
6/30/202111,3281,3481,2652,241N/A
3/31/20219,6001,1405872,010N/A
12/31/20208,542612-2961,899N/A
9/30/20208,635624-1,3101,723N/A
6/30/20208,724621-1,9571,715N/A
3/31/20209,521798-1,8922,016N/A
12/31/201910,1641,277N/A1,947N/A
9/30/201910,6371,250N/A1,997N/A
6/30/201911,7681,254N/A2,152N/A
3/31/201912,2711,223N/A2,045N/A
12/31/201812,5931,151N/A2,187N/A
9/30/201813,249921N/A1,896N/A
6/30/201812,761773N/A1,675N/A
3/31/201812,526564N/A1,542N/A
12/31/201712,174387N/A1,315N/A
9/30/201711,036415N/A1,367N/A
6/30/201710,488342N/A1,465N/A
3/31/20179,896357N/A1,392N/A
12/31/20168,921354N/A1,353N/A
9/30/20168,197291N/A1,234N/A
6/30/20167,738284N/A1,204N/A
3/31/20167,732275N/A1,198N/A
12/31/20157,763251N/A1,023N/A
9/30/20158,677317N/A1,110N/A
6/30/20159,898296N/A1,084N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: OKE's forecast earnings growth (6.2% per year) is above the savings rate (3.4%).

Earnings vs Market: OKE's earnings (6.2% per year) are forecast to grow slower than the US market (16% per year).

High Growth Earnings: OKE's earnings are forecast to grow, but not significantly.

Revenue vs Market: OKE's revenue (1.5% per year) is forecast to grow slower than the US market (11.2% per year).

High Growth Revenue: OKE's revenue (1.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: OKE's Return on Equity is forecast to be low in 3 years time (17.5%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/04 10:22
End of Day Share Price 2026/05/01 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ONEOK, Inc. is covered by 37 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
William SeleskyArgus Research Company
Ethan BellamyBaird
Theresa ChenBarclays