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ONEOK Inc Stock Quote OKE

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Morningstar's ONEOK Inc Stock Analysis

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Is it the right time to buy or sell?

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Economic Moat

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Capital Allocation

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Oneok Continues to See a Healthy Rebound in Rockies Volumes

Stephen Ellis Sector Strategist

Business Strategy and Outlook

| Stephen Ellis |

Oneok brings together high-quality assets, some of the strongest near- to medium-term growth prospects in our coverage as Rockies volumes continue their ongoing rebound, a C-Corporation structure, and a well-respected management team in a compelling package. About 90% of the firm's earnings are fee-based, 80%-90% of its customers are investment-grade, and the firm hedges its limited commodity price exposure. With the reduced capital program, Oneok does finally have material levels of excess cash flow in 2022, perhaps 18 months behind other U.S. midstream peers to buy back more stock. We estimate there could be up to $525 million in buybacks in 2022, though knowing Oneok's penchant for finding accretive growth projects, this is also equally likely to be plowed back into attractive growth assets.

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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.

Contact
100 West Fifth Street
Tulsa, OK, 74103
T +1 918 588-7000
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Hard Assets
Employees 2,847

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