ONEOK (NYSE:OKE) Shares Down 5.5% - Here's What Happened

Key Points

• Shares fell 5.5% intraday to about $82.56 after ONEOK's FY‑2026 EPS guidance midpoint came in slightly below Street expectations and a one‑time 2024 pipeline divestiture reduced natural‑gas transportation earnings, prompting investor re‑evaluation.
• Despite the selloff, ONEOK beat Q4 estimates (EPS $1.55 vs. ~$1.50) and reported ~$9.07B in revenue, posted full‑year 2025 net income up ~11% and adjusted EBITDA up ~18%, and raised the quarterly dividend to $1.07 (annualized yield ~5.2%).

ONEOK, Inc. (NYSE:OKE - Get Free Report)'s stock price fell 5.5% during trading on Tuesday . The company traded as low as $81.94 and last traded at $82.5580. 1,859,911 shares traded hands during trading, a decline of 59% from the average session volume of 4,533,821 shares. The stock had previously closed at $87.33.

Key ONEOK News

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: Q4 EPS beat and revenue outperformance — ONEOK reported $1.55 EPS vs. ~$1.50 consensus and revenue ~ $9.06–9.07B, topping Street estimates, signaling operational strength. Oneok Inc. (OKE) Q4 Earnings Surpass Estimates
• Positive Sentiment: Strong full-year operating results — ONEOK disclosed net income up ~11% and adjusted EBITDA up ~18% for 2025, reinforcing midstream cash-generation credentials. ONEOK Announces Higher Full-Year 2025 Earnings
• Positive Sentiment: Dividend support — management has recently raised the dividend, which supports income-oriented investor demand and total-return expectations for the stock. ONEOK (OKE) Q4 2025 Earnings: What You Need to Know
• Neutral Sentiment: Market re-evaluation / valuation debate — recent commentary weighs whether the post-rally valuation leaves upside or makes the stock vulnerable to any earnings/guidance shortfalls. Is It Time To Reassess ONEOK (OKE)?
• Negative Sentiment: FY-2026 EPS guidance came in at $5.040–$5.870, with the midpoint slightly below consensus (~$5.83), prompting concern about forward earnings growth and near-term multiple compression. ONEOK 2026 Guidance (press release)
• Negative Sentiment: One-time impact from a 2024 interstate-pipeline divestiture reduced natural-gas transportation earnings, contributing to a drop in quarterly profit in that segment and raising near-term growth uncertainty. ONEOK quarterly profit falls (Reuters)

Analysts Set New Price Targets

Several research analysts have commented on the stock. Argus upgraded ONEOK from a "hold" rating to a "buy" rating and set a $79.00 target price for the company in a research note on Thursday, November 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of ONEOK in a report on Monday, December 29th. Stifel Nicolaus set a $94.00 price target on ONEOK in a report on Thursday, October 30th. JPMorgan Chase & Co. lowered ONEOK from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $87.00 to $83.00 in a report on Tuesday, January 27th. Finally, Barclays cut their price target on ONEOK from $78.00 to $76.00 and set an "equal weight" rating for the company in a research note on Thursday, January 15th. Seven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $86.27.

ONEOK Stock Down 6.0%

The stock has a fifty day moving average price of $77.29 and a 200 day moving average price of $73.73. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. The stock has a market capitalization of $51.67 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 4.90 and a beta of 0.96.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.05. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $8.77 billion. During the same quarter last year, the company earned $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.2%. This is a positive change from ONEOK's previous quarterly dividend of $1.03. The ex-dividend date was Monday, February 2nd. ONEOK's dividend payout ratio is currently 78.68%.

Hedge Funds Weigh In On ONEOK

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors purchased a new position in ONEOK during the fourth quarter valued at $586,500,000. Norges Bank bought a new position in shares of ONEOK during the 4th quarter valued at approximately $564,867,000. First Eagle Investment Management LLC increased its stake in ONEOK by 46.3% in the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock worth $835,350,000 after purchasing an additional 3,596,089 shares during the period. Boston Partners raised its stake in shares of ONEOK by 53.7% during the second quarter. Boston Partners now owns 5,509,100 shares of the utilities provider's stock valued at $448,476,000 after acquiring an additional 1,924,864 shares in the last quarter. Finally, Danske Bank A S increased its stake in shares of ONEOK by 3,538.4% during the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider's stock valued at $124,320,000 after buying an additional 1,644,945 shares during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Company Profile

ONEOK, Inc NYSE: OKE is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK's asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

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