Tulsa, Oklahoma-based ONEOK, Inc. (OKE) operates as a midstream service provider of gathering, processing, fractionation, transportation, storage, and marine export services in the United States. The company has a market capitalization of $53.8 billion and operates through Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude segments.
OKE is expected to release its Q1 2026 earnings on April 28, after the market closes. Ahead of the event, analysts expect the company’s EPS to be $1.26 on a diluted basis, up 21.2% from $1.04 in the year-ago quarter. The company has met or exceeded Wall Street’s EPS estimates in three of its last four quarters, while missing on one occasion.
For fiscal 2026, analysts project the company’s EPS to be $5.53, up 2% from $5.42 in fiscal 2025. Moreover, its EPS is expected to rise by roughly 9.2% year over year (YoY) to $6.04 in fiscal 2027.
OKE stock has surged marginally over the past 52 weeks, underperforming the S&P 500 Index’s ($SPX) 28.1% rise, and the State Street Energy Select Sector SPDR ETF’s (XLE) 43.3% return during the same time frame.
On Feb. 24, OKE shares declined 5.1% following the release of its mixed Q4 2025 earnings. The company’s adjusted EBITDA decreased 1.3% from the prior year’s quarter to $2.1 billion and failed to surpass the Street’s estimates. However, its EPS for the quarter amounted to $1.55, coming in on top of Wall Street estimates. For the next fiscal year, the company expects its adjusted EPS and EPS midpoint to be around $8.1 billion and $5.45, respectively.
Analysts are moderately bullish on OKE, with the stock having a “Moderate Buy” rating overall. Among the 22 analysts covering the stock, 11 are recommending a “Strong Buy,” one suggests a “Moderate Buy,” nine suggest a “Hold,” and one analyst advises “Strong Sell” for the stock. OKE’s average analyst price target is $93.19, indicating an upside of 11.1% from the current levels.
