Midstream operator ONEOK's Q4 EPS beats estimates on higher volumes

ONEOK (Oklahoma)

23/02/2026 21:29

Overview

Midstream energy firm's Q4 EPS beat analyst expectations

Q4 adjusted EBITDA slightly missed analyst estimates

Company's Q4 net income was $978 mln

Outlook

ONEOK expects 2026 net income between $3.19 bln and $3.71 bln

Company forecasts 2026 EPS between $5.04 and $5.87

ONEOK projects 2026 adjusted EBITDA between $7.9 bln and $8.3 bln

Result Drivers

VOLUME INCREASE - 15% rise in Rocky Mountain region NGL raw feed throughput and 3% increase in natural gas volumes processed contributed to Q4 results

ACQUISITION SYNERGIES - EnLink and Medallion acquisitions boosted full-year results with higher NGL and natural gas processing volumes

PROJECT COMPLETIONS - Key project completions created significant operating leverage, enhancing financial position and flexibility

Company press release: ID:nGNX6K8xxL

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EPS
Beat
$1.55
$1.53 (15 Analysts)
Q4 Net Income
$978 mln
Q4 Adjusted EBITDA
Slight Miss*
$2.15 bln
$2.17 bln (16 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 11 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas transportation services peer group is "buy"

Wall Street's median 12-month price target for ONEOK Inc is $86.50, about 1% below its February 20 closing price of $87.33

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 11 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)