ONEOK, Inc., along with its subsidiaries, functions as a leading energy infrastructure company within the United States. Its primary focus is the comprehensive management of natural gas, encompassing gathering, processing, storage, and transportation. These operations are structured into three distinct segments: Natural Gas Gathering and Processing, Natural Gas Liquids (NGL), and Natural Gas Pipelines. The company owns an extensive system of natural gas gathering pipelines and processing plants, predominantly situated in the Mid-Continent and Rocky Mountain regions. Furthermore, ONEOK manages both federally (FERC) and state-regulated interstate and intrastate natural gas transmission pipelines, alongside crucial natural gas storage facilities. A significant component of ONEOK's business is dedicated to Natural Gas Liquids. The company handles the entire NGL value chain, from collecting, treating, and fractionating to transporting, storing, marketing, and distributing these products. Its NGL infrastructure includes a broad network of gathering and distribution pipelines across Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado. Additionally, NGL terminal and storage assets are maintained in Kansas, Missouri, Nebraska, Iowa, and Illinois. ONEOK also operates pipelines for NGL distribution and refined petroleum products throughout Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana, supported by integrated truck and rail loading and unloading facilities connected to its NGL fractionation, storage, and pipeline network. The company's substantial physical footprint comprises approximately 17,500 miles of natural gas gathering pipelines, 1,500 miles of FERC-regulated interstate natural gas pipelines, and 5,100 miles of state-regulated intrastate transmission pipelines. The NGL segment benefits from six storage facilities and eight product terminals. Separately, ONEOK also owns and leases a parking garage and excess office space in downtown Tulsa, Oklahoma. ONEOK serves a wide and varied customer base throughout the energy sector. This includes integrated and independent exploration and production (E&P) companies, natural gas and NGL gathering and processing enterprises, crude oil and natural gas producers, propane distributors, municipalities, and ethanol producers. The company also supports petrochemical, refining, and NGL marketing firms, as well as natural gas distribution utilities, electric power generation companies, and various other energy producers, processors, and marketers. Founded in 1906, ONEOK, Inc. is headquartered in Tulsa, Oklahoma.

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Oneok Inc. (OKE) declined 1.78% while broader markets gained, underperforming the S&P 500's 1.49% rise. The natural gas company is expected to report lower EPS of $1.45 (down 2.68% YoY) but higher revenue of $11.77 billion (up 36.34% YoY). OKE holds a Zacks Rank #3 (Hold) with a Forward P/E of 16.39, trading at a premium to its industry average.

Oneok Inc. (OKE) Stock Drops Despite Market Gains: Important Facts to Note

ONEOK, Inc. announced the pricing terms for OpCo's cash tender offers to purchase up to $2 billion in aggregate principal amount of debt securities across 20 series of notes. The Early Tender Deadline has passed with the Aggregate Maximum Tender Amount fully subscribed, and OpCo expects to accept and pay for all $2 billion of validly tendered notes on September 17, 2026. The tender offers are scheduled to expire on September 29, 2026, though no additional tenders are expected to be accepted given the maximum amount has been reached.

ONEOK Announces Pricing Terms of Cash Tender Offers

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ONEOK Inc (OKE) Stock Price, Analysis & Trade Signals