
OKE · NYSE
ONEOK operates energy infrastructure centered on natural gas, natural gas liquids and related transportation and processing. It earns primarily fee-based revenue from moving and handling these commodities, including NGL throughput, gas processing and pipeline transportation; the supplied evidence does not quantify contributions by business line. Its customers are commercial users of these infrastructure services, including commodity shippers and producers, although the evidence does not identify customer concentrations. ONEOK generated $33.6 billion of revenue and $3.4 billion of net income in FY2025, compared with $21.7 billion and $3.0 billion, respectively, in FY2024.
ONEOK fell $1.15, or 1.30%, from $88.80 to $87.65 over the reported week. The main company-specific event was its second-quarter release after Monday’s close: earnings and revenue beat estimates, record NGL throughput and stronger pipeline performance supported growth, and management raised 2026 guidance. The positive fundamentals did not translate into a positive share-price reaction, as the stock dropped 2.57% on Monday and another 0.67% on Tuesday, with Tuesday’s 7.16 million shares representing the week’s heaviest volume. Before the release, trading was mixed: shares rose on Wednesday, gave back that gain Thursday, and advanced 1.95% Friday. No other specific company news was supplied to explain the decline.