ONEOK (OKE) Reports First-Quarter EPS of $1.23

ONEOK, Inc. (NYSE:OKE) is one of the 8 Best Infrastructure Stocks to Buy with Highest Upside Potential.

On April 28, 2026, ONEOK, Inc. (NYSE:OKE) reported first-quarter EPS of $1.23, missing consensus estimates of $1.32, while adjusted EBITDA rose to $1.997 billion from $1.775 billion a year earlier. CEO Pierce Norton said the quarter reflected year-over-year volume growth and continued operational execution across ONEOK’s integrated asset base. He added that strong performance across multiple segments and a constructive market backdrop are improving the company’s outlook for the rest of the year.

ONEOK raised its 2026 net income guidance to a range of $3.21 billion to $3.79 billion. The company also increased adjusted EBITDA guidance to $8.0 billion to $8.5 billion while keeping capital spending guidance unchanged at approximately $2.7 billion to $3.2 billion.

On April 13, 2026, Scotiabank raised its price target on ONEOK, Inc. (NYSE:OKE) to $92 from $91 and maintained an Outperform rating. The firm said higher commodity prices are having a more muted effect on fiscal 2026 earnings than expected and added that upstream development activity is still likely to remain stable this year.

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Earlier in April, Morgan Stanley raised its price target on ONEOK, Inc. (NYSE:OKE) to $113 from $104 while maintaining an Overweight rating as part of its broader North American midstream and renewable infrastructure update.

ONEOK, Inc. (NYSE:OKE) provides gathering, processing, fractionation, transportation, storage, and marine export services across the U.S. energy infrastructure market.

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