OKE
ONEOK INC /NEW/Evidence as of 2026-09-03Overview · ONEOK INC /NEW/
ONEOK, Inc., together with its subsidiaries, engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through three segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Contine…
Management team
- Ms. Christy D. Williamson · Senior Vice President of Commercial, Natural Gas Gathering & ProcessingFind on LinkedIn
- Mr. Lyndon C. Taylor · Executive VP, Chief Legal Officer & Assistant SecretaryFind on LinkedIn
- Mr. Scott D. Schingen · Senior Vice President of Natural Gas Liquids & Natural Gas OperationsFind on LinkedIn
- Mr. Charles M. Kelley · Senior Vice President of Commercial Natural Gas PipelinesFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
+0.2 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The evidence balance is Mixed (+0.2 of a possible +2; confidence high). For the fiscal quarter ended 2026-07-27 (Q2 2026), reported revenue was $ 12,049,000,000 versus $ 7,887,000,000 in the comparable fiscal quarter ended 2025-07-28 (Q2 2025). Cost of revenue rose to $ 9,242,000,000 in Q2 2026 from $ 5,360,000,000 in Q2 2025, producing a gross margin of about 23.3% in Q2 2026 versus about 32.1% in Q2 2025, i.e., year‑over‑year margin compression.
Operating income increased in absolute dollars to $ 1,593,000,000 in Q2 2026 from $ 1,431,000,000 in Q2 2025, and net income rose to $ 966,000,000 (diluted EPS $ 1.53) from $ 841,000,000 (diluted EPS $ 1.34). Point-in-time long-term debt declined over the reported dates to $ 31,500,000,000 as of 30 June 2026, while cash and cash equivalents showed a falling balance to $ 161,000,000 as of 30 June 2026. Market signals show price above the 50- and 200-day SMAs (+5.7% and +15.7%), dividend yield (TTM) of +4.42%, and elevated short- and medium-term volatility (30-day annualized +27.4%, 90-day +29.6%). Valuation metrics include P/E (TTM) 17.18, EV/EBITDA (TTM) 12.21, and Price-to-FCF (TTM) 48.47.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Revenue for the quarter ended 30 June 2026 (fiscal Q2 2026, 2026-04-01 to 2026-06-30) was $12,049,000,000 compared with $7,887,000,000 for the quarter ended 30 June 2025 (fiscal Q2 2025, 2025-04-01 to 2025-06-30).
XBRL companyfacts · 0001039684-26-000029Cost of revenue for the quarter ended 30 June 2026 (fiscal Q2 2026) was $9,242,000,000, producing a gross margin of about 23.3% (12,049,000,000 − 9,242,000,000) / 12,049,000,000; by comparison, cost of revenue for the quarter ended 30 June 2025 (fiscal Q2 2025) was $5,360,000,000, producing a gross margin of about 32.1% (7,887,000,000 − 5,360,000,000) / 7,887,000,000 — indicating margin compression year-over-year for the comparable quarter.
XBRL companyfacts · 0001039684-26-000029Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Nothing in this slice of the evidence rose to a claim — a quiet read, which itself is information.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
Momentum over the past 3 months is +12.0% and momentum over the past 6 months is +16.0%, with 6-month momentum ranked in the 72th percentile of the 547-stock research universe as of 2026-09-02.
Moneyta signal set · 2026-09-02weakened in debatePrice is trading above both short- and long-term moving averages: price vs 50-day SMA is +5.7% and price vs 200-day SMA is +15.7% as of 2026-09-02, and a golden cross indicator is true.
Moneyta signal set · 2026-09-02Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02T13:45:47.228469+00:00, OKE appears as a holding in the ETF with symbol IVV at a weight of 0.08% of that fund.
ETF constituents · market dataThe provided ETF membership record timestamp is 2026-09-02T13:45:47.228469+00:00 and records OKE's weight in IVV as 0.08% of the fund.
ETF constituents · market dataReads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
ONEOK agreed to acquire Brazos Midstream's natural gas gathering and processing assets in the Permian Basin for $4.425 billion, as reported on 1 September 2026.
News · thelincolnianonline.com · 2026-09-01Coverage highlights that the Brazos Midstream deal expands ONEOK's Permian footprint and its natural gas gathering and processing presence, a company-specific growth theme in multiple articles on 1 September 2026.
News · kalkinemedia.com · 2026-09-01Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
Using the inputs and discount/terminal assumptions in the model, today's price implies a free cash flow (FCF) growth rate of 32.11% (implied_growth = 0.3211).
Valuation inputs · SEC XBRL + stored EOD closePrice-to-FCF (TTM) is 48.47.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
Several company-specific data points and market signals jointly support a favorable read. Revenue grew sharply year-over-year in Q2 2026 while operating income and net income also rose in absolute terms, indicating the business converted larger top-line volumes into higher operating and net earnings despite margin compression. Balance-sheet actions show sequential reductions in reported long-term debt, and recent news items document a Permian asset acquisition paired with a $9 billion minority equity injection, which could be interpreted as growth-capital alignment that does not rely solely on cash on hand. Market-position signals (positive momentum, price above moving averages, a high dividend yield) and a reasonable EV/EBITDA multiple add further evidence strength for a constructive interpretation of the company's current profile.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.41
25 surviving claims rest on 9 distinct sources; the heaviest analyst carries 28% of them, and 98% of what the desk raised survived the debate.
The evidence set rests on a moderate breadth of sources but a small number of analysts supply a disproportionate share of the surviving claims; that raises some dependence risk on individual analyst judgment and source concentration. The desk-level survival rate is very high, so the claims that remain were resilient to internal challenge — however, the fragility measures imply these reads should carry cautious weight until corroborated by additional independent sources or subsequent filings.
Peer context · computed, not argued
12-1 momentum ranks 1st of 2 in Oil & Gas Midstream (as of 2026-09-02).
90-day volatility ranks 1st of 2 in Oil & Gas Midstream (as of 2026-09-02).
dividend yield ranks 1st of 2 in Oil & Gas Midstream (as of 2026-09-02).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
12 filings· 1 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.3 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.2 to the score
1 holdings record
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on OKE Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.