ONEOK Inc

OKE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$79.00	Cdqmtdf	Jdnfnxp

Oneok Earnings: Strong Volumes Continue to Propel Growth Yet Again

Stephen Ellis

May 3, 2023

Oneok’s ongoing volume strength continues to drive first-quarter earnings. With the firm reaffirming 2023 EBITDA guidance at a midpoint of $4.6 billion, matching our forecast, we expect to maintain our $61 per share fair value estimate and narrow moat rating.

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