ONEOK, Inc. (OKE)

ONEOK, Inc. (NYSE: OKE) is a leading midstream service provider and owner of one of the nation’s premier natural gas liquids (NGL) systems, connecting prolific supply basins with key market centers. With a mission to deliver energy that improves lives, the company has transformed into a diversified energy infrastructure giant following its strategic acquisition of Magellan Midstream Partners. In the high-demand energy landscape of late 2025, ONEOK, Inc. stock is viewed as a premier "Divided and Growth" play, as its integrated network provides the critical path for domestic natural gas and refined products. The company’s unique ability to bundle services across NGLs, natural gas, and refined products provides it with a massive competitive moat.

Operational highlights in December 2025 include the successful realization of over $400 million in annual synergies from the Magellan merger and the rapid growth of its NGL export volumes. Investors following OKE stock have cheered the company’s exceptional dividend growth and its successful entry into the refined products and ammonia transport markets. The company’s core services include NGL gathering and processing, refined product transportation, and natural gas storage. The future business strategy involves a deeper push into "Sustainable Aviation Fuel" (SAF) logistics and the expansion of its "Carbon Capture" pipelines in the Bakken and Mid-Continent regions. Throughout 2025, ONEOK has demonstrated its financial strength by achieving an investment-grade rating and delivering consistent high-single-digit earnings growth.

The OKE stock price is currently trading near $102, reflecting its status as a high-yield "Safety" leader with a dividend exceeding 4.2%. Analysts monitoring the stock price highlight the company’s resilient fee-based revenue model and its role as a primary beneficiary of the U.S. role as a global energy supplier. For those tracking the market today, the key catalysts include the completion of major pipeline expansions and the volume of NGL flows to the Gulf Coast. As a titan of the energy world, the company remains a top selection for income-seeking investors. The steady performance of the stock price reflects its role as a master of the North American midstream.