ONEOK, IncNYSE: OKE
Energy · Oil & Gas Storage & Transportation
$90.70
-1.90%
Vol: 2.6M
Research Digest
Friday, May 1, 2026
ONEOK raised 2026 financial guidance with net income guidance of $3.21-3.79B and adjusted EBITDA of $8.0-8.5B after Q1 beat driven by higher NGL volumes.
ONEOK reported Q1 2026 net income of $776M and adjusted EBITDA of $2.0B, beating expectations. The company raised full-year 2026 net income guidance to $3.21-3.79B and adjusted EBITDA guidance to $8.0-8.5B, reflecting strong natural gas liquids and processing volumes. CEO highlighted rising U.S. energy infrastructure demand supporting growth strategy. Recent analyst updates include Morgan Stanley raising price target to $113 from $104.
Previous Market Intelligence
13 daysApr 30ONEOK reports Q1 2026 net income up 12% to $776M, adjusted EBITDA up 13% to $2.0B; raises 2026 guidance on strong midstream volumes.Mixed▶
ONEOK posted solid Q1 2026 results with net income increasing 12% to $776M and adjusted EBITDA up 13% to $2.0B, driven by higher NGLs, natural gas processing, and refined products volumes. The company raised full-year 2026 net income guidance to $3.21-3.79B and adjusted EBITDA to $8.0-8.5B. Dividend was maintained at $1.07 per share. However, analysis flags net profit margins compressed from 14% to 10.1%, and dividend payout strains free cash flow. Stock price increased $1.37 (1.62%) to $86.06. Offers 4.79% dividend yield but sustainability concerns exist given margin compression.
Apr 29ONEOK raises 2026 guidance after 12% net income increase and 13% adjusted EBITDA growth in Q1Positive▶
ONEOK reported Q1 2026 net income of $776 million and adjusted EBITDA of $2.0 billion, up 12% and 13% respectively. Company raised full-year 2026 guidance with net income range of $3.21-$3.79 billion and adjusted EBITDA of $8.0-$8.5 billion. Results benefited from higher NGL, natural gas processing, refined products volumes and optimization activity. Dividend maintained at $1.07 per share.
Apr 16JPMorgan raised OKE price target to $91 from $85 in early April; Q1 2026 earnings expected April 28.Positive▶
ONEOK reported strong analyst sentiment with JPMorgan raising its price target and UBS maintaining a Buy rating. The company increased its quarterly dividend to $1.03 per share (4% increase). Q1 2026 earnings are expected on April 28 with projected EPS of $1.26, up 21.2% YoY. Mixed sentiment reflects cautious 2026 outlook despite recent price target increases.
Apr 15Morgan Stanley raised OKE price target to $113 on April 7 citing benefits from shifting global energy flows and strong midstream demand.Positive▶
ONEOK is set to report Q1 2026 earnings on April 28 with analysts predicting $1.26 EPS representing 21.2% year-over-year increase. Morgan Stanley upgraded ONEOK to Overweight with $113 price target on April 7. Board announced retirements of two long-serving directors effective May 2026. The midstream provider is well-positioned to benefit from geopolitical tensions supporting energy infrastructure demand.
Apr 14ONEOK Inc received analyst upgrade from Morgan Stanley to overweight with $113 price target; major pipeline projects underway.Positive▶
ONEOK (OKE) received a significant analyst upgrade from Morgan Stanley on April 7, 2026, raising price target from $104 to $113 with Overweight rating. The company is executing major construction projects across its 60,000-mile pipeline network including Greater Denver refined products expansion and Bighorn natural gas processing plant ($365M investment). ONEOK announced a shift in fuel transportation strategy moving product from Oklahoma to Texas. Q1 2026 earnings scheduled for April 28, 2026 after market close with conference call April 29. Howard Capital Management boosted stake 297% in latest filing.
Apr 13Howard Capital Management boosts ONEOK stake 297% in Q4, signaling institutional confidence ahead of Q1 2026 earnings on April 29.Positive▶
Howard Capital Management increased its ONEOK position by 297.3% to 17,268 shares in Q4 2025, disclosed April 12. Multiple analysts raised price targets in early April, with JPMorgan at $91, Morgan Stanley at $113, and Wells Fargo upgrading to Overweight with $100 PT. The company has announced board retirements effective May 2026. Q1 earnings expected April 29 amid mid-to-high single-digit growth guidance for 2026.
Apr 10Jefferies raises OKE price target to $100, citing strong energy trends and analyst upgrades ahead of Q1 earnings.Positive▶
On April 10, Jefferies Financial Group raised its price target for ONEOK from $98 to $100 with a Buy rating, implying 16% upside. The upgrade reflects bullish sentiment on the energy company driven by favorable global energy conditions and strong historical earnings surprises. ONEOK is scheduled to release Q1 2026 earnings on April 28 with a conference call on April 29.
Apr 9Morgan Stanley and Wells Fargo Upgrade ONEOK, Dividend Increased 4% to $1.03Positive▶
ONEOK announced 4% dividend increase to $1.03 per share on April 7, 2026. Morgan Stanley raised price target to $113 from $104, while Wells Fargo upgraded to Overweight and raised target from $81 to $100 on March 25. Company affirmed 2025 guidance with net income up 11% and adjusted EBITDA up 18%. ONEOK midstream operations benefit from natural gas and NGL production growth. Stock at $104.70 showing resilience with recent analyst upgrades, though cautious 2026 outlook creates mixed sentiment. Earnings report April 28, 2026.
Apr 8Morgan Stanley, Wells Fargo Raise Targets; Dividend IncreasedPositive▶
Morgan Stanley raised OKE price target to $113 from $104; Wells Fargo upgraded to Overweight with target of $100 from $81. Board increased quarterly dividend to $1.07/share. Stock near $88.30 with Q1 2026 EPS projected at $1.29 (24% YoY growth). 21-analyst average target $91.96.
Apr 7Board transitions; 4% dividend hike; 2026 guidance issued; Q1 earnings call April 29.Positive▶
ONEOK raised quarterly dividend 4% to $1.07 on Jan 21. Issued 2026 guidance projecting net income $3.19-3.71B and EPS $5.04-5.87. Two directors retiring at May 20 annual meeting. Q1 2026 call April 29. 17 analysts rate Buy with $92.06 target.
Apr 6ONEOK schedules Q1 2026 earnings release for April 28 amid merger integration and analyst momentumMixed▶
ONEOK (OKE) announced Q1 2026 earnings release on April 28, 2026, with conference call on April 29, 2026 at 11:00 a.m. ET, as the company integrates EnLink Midstream following the April 1, 2026 merger effective date where shareholders receive 0.1412 shares of OKE per ENLC share held. The stock trades near $88.30 with analysts predicting Q1 2026 EPS of 1.29, representing 24.04% year-over-year growth, supported by recent analyst upgrades and new coverage. The 90-day return of 18.78% and 1-year total shareholder return of 15.29% indicate longer-term momentum building, though the stock experienced a 6.02% decline over the past 7 days amid market volatility. The merger aligns EnLink's gathering, processing, and transportation assets with ONEOK's extensive pipeline network across key U.S. regions, creating operational synergies.
Apr 3ONEOK announces Q1 2026 earnings call while Wells Fargo upgrades to Overweight with $100 price target.Positive▶
ONEOK scheduled its Q1 2026 earnings release for April 28, 2026. Wells Fargo upgraded the stock to Overweight from Equal Weight on March 25 with a price target of $100, up from $81. Major construction projects underway include the Greater Denver refined products pipeline expansion and rebuilding of its Medford NGL fractionator. The analyst consensus rating is Buy with a $90.94 price target.
Apr 2ONEOK scheduled Q1 2026 earnings call for April 29 with guidance on major pipeline construction projects and expected 24% EPS growth.Positive▶
ONEOK announced Q1 2026 earnings on April 28 after market close with conference call on April 29 at 11 a.m. ET. Management highlighted 24.04% expected EPS increase year-over-year. The company is executing major capital projects across its 60,000-mile pipeline network including Greater Denver refined products expansion, Permian Basin expansions, and Texas City LPG export terminal. 2026 EBITDA is guided to $8.1 billion with organic sales growth of 6.5-9%. Sixteen analysts rate OKE a Buy consensus with $90.94 price target.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| WMBWILLIAMS | $75.66 | -0.85% | +5.1% | 29.4x | 0.65 | $93.3B |
| KMIKINDER | $32.59 | -0.87% | -1.0% | 22.3x | 0.63 | $73.1B |
| OKEONEOK | $90.70 | -1.90% | +4.5% | 15.0x | 0.81 | $58.3B |
| TRGPTARGA | $254.78 | -2.04% | +5.9% | 22.4x | 0.81 | $55.9B |
| XOMEXXON | $153.41 | -0.60% | -5.5% | 15.2x | 0.29 | $641.5B |
| CVXCHEVRON | $190.83 | -1.28% | -2.8% | 16.5x | 0.59 | $385.1B |
Key Fundamentals
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Price above both MAs — bullish structure.