ONEOK, Inc. (OKE)

Over the past six months, ONEOK's stock has experienced some fluctuations. Key events impacting the stock include the Q1 2025 earnings report, the acquisition of EnLink Midstream, a share repurchase program, and a dividend declaration. The stock declined on the earnings release day, despite higher first-quarter results compared to Q1 2024. The acquisition of EnLink Midstream was completed in January 2025. In March 2025, ONEOK repurchased shares of common stock. In April 2025, ONEOK declared a quarterly dividend.

Demand for ONEOK's products and services is subject to seasonality, primarily influenced by weather conditions. Cold temperatures increase the demand for natural gas and certain NGL products, while warm temperatures generally lead to increased demand for natural gas used in gas-fired electricity generation. Demand for butanes and natural gasoline is also subject to seasonal fluctuations. ONEOK benefits from a high percentage of fee-based earnings, which provides some resilience against commodity price volatility and demand fluctuations.

ONEOK, Inc. is a leading diversified midstream service provider in the energy sector, specifically within the oil, gas, and consumable fuels industry. The company provides essential midstream energy services through four primary segments: natural gas gathering and processing, natural gas liquids (NGLs), natural gas pipelines, and refined products & crude. ONEOK serves a broad range of customers, including integrated and independent exploration and production companies, utilities, industrial companies, and refineries.

ONEOK's operations span across more than 20 states in the United States, with an extensive network of over 50,000 miles of pipelines. Its natural gas gathering and processing assets are concentrated in key U.S. production areas, including the Mid-Continent, Rocky Mountain, Permian Basin, North Texas, and Gulf Coast regions. The company's NGL gathering and distribution pipelines, fractionation, terminal, and storage facilities are primarily located in the Rocky Mountain region, Mid-Continent region, Permian Basin, and Gulf Coast region. Recent acquisitions have further expanded ONEOK's footprint, diversifying its services and increasing its Permian exposure.

ONEOK maintains a strong brand reputation as a major diversified energy infrastructure company in North America. Its reputation has been positively influenced by the acquisition of Magellan Midstream Partners, which expanded its services into crude oil and refined products, and the acquisition of EnLink Midstream, which expanded its integrated gas and NGL platform. Organizations such as MSCI, Morningstar Sustainalytics, FTSE Russell, and S&P Global have consistently recognized ONEOK's performance. The company also highlights its commitment to a zero-incident culture and continuous improvement in its sustainability programs.

ONEOK, Inc. has a diverse ownership structure, primarily held by institutional investors, with a smaller percentage owned by individual investors and company insiders. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., and State Street Corp. Approximately 0.89% of ONEOK is owned by insiders and 26.20% by retail investors. Another source indicates that approximately 0.19% is owned by insiders, and 29.97% by public companies and individual investors.