ONEOK Raises 2026 Profit Outlook Again on Record NGL Volumes
OKE sits 37% above its 52-week low of $64.02.
Summary
ONEOK lifted its 2026 net profit guidance for the second time this year, narrowing the range to $3.41B–$3.79B from $3.21B–$3.79B, and raised the adjusted EBITDA floor to $8.2B from $8.0B. The upgrade is fueled by record NGL raw feed throughput, with volumes up 7% overall and 15% in the Gulf Coast/Permian region. Q2 adjusted EBITDA rose 7% to $2.12B, underscoring the volume-driven earnings momentum. This follows the earlier EPS guidance raise to a $5.68 midpoint and the Q2 net income beat reported today. The raised lower bounds signal management confidence in sustained Permian Basin activity and LNG export demand. With a $55.6B market cap, the guidance lift is material and reinforces the midstream growth narrative.
At the time of this announcement, OKE was trading at $87.70 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $55.6B. The 52-week trading range was $64.02 to $96.07. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.