ONEOK stock reports higher earnings as Apollo deal closes
Published on 09/24/2026 at 18:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
ONEOK stock was trading at USD 91.05 on the NYSE on September 24, 2026, at 12:28 p.m. ET, up 0.57 percent in the session. The latest corporate milestone is a USD 9 billion minority equity investment that closed on September 10, 2026.
USD 9 billion reshapes funding
According to ONEOK, funds managed by Apollo received a nonvoting Class B minority interest in a newly formed holding company. The transaction is tied to ONEOK's purchase of Permian Midland Basin assets and gives the midstream operator capital for debt reduction and expansion.
The funding structure matters because it avoids issuing common shares while adding a new claim on operating-company cash flow. The related transaction plan includes a USD 2 billion ceiling for cash tender offers covering outstanding debt securities, according to the company's September announcements.
Second-quarter earnings rise
ONEOK reported second-quarter 2026 net income of USD 967 million and diluted EPS of USD 1.53, up from USD 853 million and USD 1.34 in the year-earlier quarter, Stock Titan reported. The comparison shows earnings growth alongside the company's broader infrastructure expansion.
Operating revenue reached USD 12.05 billion, compared with USD 7.89 billion in the prior-year quarter, a 52.8 percent increase, according to Zacks. Adjusted EBITDA was USD 2.12 billion, while 2026 net income guidance stands at USD 3.41 billion to USD 3.79 billion and adjusted EBITDA guidance at USD 8.2 billion to USD 8.5 billion.
Stock stays below yearly high
ONEOK's USD 91.05 intraday price on September 24, 2026, stood 8.81 percent below its 52-week high of USD 99.85 and above its 52-week low of USD 64.02. The USD 57.38 billion market capitalization places the funding transaction alongside a substantial listed equity base.
For investors, the key calculation is the balance between higher operating earnings and the new capital structure. The second-quarter revenue comparison and the USD 5.68 fiscal 2026 EPS midpoint provide concrete measures for judging whether the acquisition and debt actions translate into sustained per-share growth.
ONEOK stock facts
- Company: ONEOK, Inc.
- Ticker: OKE
- Trading venue: NYSE
- Price: USD 91.05 intraday on September 24, 2026 at 12:28 p.m. ET
- Market capitalization: USD 57,376,585,747 as of September 24, 2026
- 52-week range: USD 64.02-99.85 as of September 24, 2026
- Sector / Industry: Energy / Oil and Gas Midstream
