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ONEOK Inc OKE Stock Quote

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Morningstar‘s Stock Analysis OKE

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Is it the right time to buy or sell?

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Economic Moat


Capital Allocation


Oneok Reports Strong Q3; Issues Better-Than-Expected 2023 Outlook

Stephen Ellis Sector Strategist

Analyst Note

| Stephen Ellis |

Oneok’s third-quarter results were healthy, as its EBITDA increased 4% year over year. Its early 2023 outlook calls for a 10%-plus increase in adjusted EBITDA over 2022 levels of a bit more than $3.6 billion, or above $4 billion. We see the upside as both volume and fee driven, as Rockies volumes continue to be healthy while gathering fees are tracking to a 10% increase in 2023. The completion of the MB-5 fractionator plant in mid-2023 should also contribute. The fee increase is expected to be primarily due to inflationary trends. After updating our model, we are increasing our Oneok fair value estimate to $58 per share from $56 while maintaining our narrow moat rating.

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Key Statistics OKE

Company Profile OKE

Business Description

Oneok provides natural gas gathering, processing, storage, and transportation as well as natural gas liquids transportation and fractionation. It owns extensive assets in the midcontinent, Permian, and Rocky Mountain regions.

100 West Fifth Street
Tulsa, OK, 74103
Sector Energy
Industry Oil & Gas Midstream
Employees 2,847

Related Articles OKE

FAQs for ONEOK Inc Stock

Yes. OKE has a forward dividend yield of 5.83%. See OKE’s full dividends and stock split history on the Dividend tab.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

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OKE’s market cap is 28.40 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

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OKE’s stock style is Mid Core.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

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OKE’s price/sales is 1.26.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

OKE’s price/forward earnings is 14.20.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

OKE’s price/book is 4.54.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

See OKE’s valuation ratios compared to the Market Index.

OKE’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare OKE’s historical performance against its industry peers and the overall market.