Should I buy ONEOK stock in 2025? Complete Guide for UAE Investors

What is ONEOK?

How much is the ONEOK stock?

The price of ONEOK stock is rising this week. As of now, ONEOK (OKE) is trading at $80.68, showing a 0.11% gain over the last 24 hours, though down 1.41% for the week.

This mix of steady dividends and blue-chip stability makes ONEOK an appealing opportunity for investors in the UAE seeking reliable exposure to the US energy infrastructure sector.

Our full analysis on the ONEOK stock

Having meticulously examined ONEOK’s latest financial results, alongside its three-year market trajectory, our proprietary analysis—integrating financial metrics, technical indicators, real-time market data, and peer benchmarking—reveals compelling signals. Notably, significant sectoral developments and evolving global energy trade dynamics converge to reinforce a constructive outlook for ONEOK. So, why might ONEOK stock once again emerge as a strategic entry point into the North American midstream energy sector in 2025?

Recent Performance and Market Context

ONEOK (NYSE: OKE) currently trades at $80.68 per share (as of May 30, 2025), marking a modest intraday increase of +0.11%. While the stock has retreated 28.98% over the last six months—primarily under the weight of sector-wide corrections and profit-taking following the surge to last year’s $118.07 high—it has nonetheless posted a +1.37% gain over the past year, outperforming several industry peers during volatile periods.

A series of recent catalysts has recalibrated market sentiment. These include the game-changing finalization of the EnLink Midstream acquisition in January 2025, a strategic joint-venture announcement for a large LPG export terminal in Texas, and ongoing capital optimization through targeted debt repayment and share buybacks. Notably, the Q1 2025 results surpassed consensus, due to contribution from newly acquired assets and robust volume growth in key geographies. The broader macro landscape is increasingly favorable to infrastructure players like ONEOK, as US energy exports expand and midstream assets remain insulated from extreme commodity swings, offering relative earnings stability even in dynamic pricing environments.

Sector-wide, the North American midstream industry is at an inflection point, energized by increasing demand for pipeline and storage infrastructure, the US’s strengthening global energy position, and strong institutional investor appetite for defensive, yield-oriented assets—factors of clear relevance for regional and international portfolios, including those in the UAE and broader GCC.

Technical Analysis

From a technical perspective, ONEOK’s price action reflects a constructive base-building process after a material correction. Current indicators spotlight emerging bullish potential:

• Relative Strength Index (RSI, 14 days): 40.48, in the lower neutral zone, implying limited downside risk and setting up for a mean reversion as oversold levels approach.
• MACD (12,26,9): -1.15, signaling an evolving positive momentum reversal, often an early indicator of a technical bottom.
• ADX (14): 20.76, indicating a neutral trend—typical of consolidation phases preceding trend reversals.
• Moving Averages: While the 5-, 20-, 50-, 100-, and 200-day moving averages are still above spot price, historical analysis shows such overshoots commonly precede sharp bullish retracements, especially as price stabilizes above structural support.

Key technical levels to monitor are the strong support at $79.24, which has consistently held during recent sell-offs, and resistance at $80.70. The tight price compression near these pivots suggests any breakout—particularly if accompanied by increased volume—could initiate a new intermediate uptrend. Short- and medium-term technical structure now favors vigilant accumulation, with the risk/reward skewing increasingly positive, especially for investors focusing on tactical entries.

Fundamental Analysis

ONEOK’s core fundamentals stand out impressively across industry comps:

• Revenue and Profitability: 2024 saw revenue jump to $21.7 billion (+23% YoY), driven by both robust organic expansion and the transformative EnLink and Medallion integrations. Net income climbed 14% to $3.03 billion, with a healthy 14% net margin, reflecting enhanced operational efficiency and scale effects.
• Valuation: At a price/earnings (P/E) ratio of just 15.76, ONEOK trades at a discount to historical midstream industry averages, while offering a stellar 5.11% dividend yield. This combination is particularly attractive in the current global low-yield environment and is reinforced by the company’s policy of stable and growing distributions—a notable magnet for high-income equity portfolios.
• Structural Advantages: With a 60,000-mile pipeline network and strategic presence across the Permian, Rockies, and Gulf Coast, ONEOK dominates the US natural gas liquids (NGL) logistics segment. This market share translates into reliable fee-based revenue, mitigating commodity price risk relative to pure producers. The ongoing investments in export infrastructure further entrench its competitive moat.
• Innovation and Expansion: Management’s clear focus on accretive M&A, organic brownfield growth, and operational digitalization positions the company at the forefront of infrastructure innovation, ensuring relevance even as energy markets evolve.

The company’s fundamentals thus justify renewed investor interest, especially considering the discounted valuation relative to tangible forward growth prospects.

Volume and Liquidity

ONEOK’s trading liquidity remains excellent, with a three-month average daily volume of 3.99 million shares. Such sustained liquidity is a hallmark of institutional confidence and allows for efficient entry and exit—even for sizeable positions—without exaggerated price slippage. The public float dynamics are supportive of dynamic revaluation, especially as upside catalysts manifest and attract incremental investor flows.

The robustness of trading volume at current price levels—despite the recent correction—signals active portfolio repositioning rather than indiscriminate selling, often a precursor to medium-term price recovery.

Catalysts and Positive Outlook

Investors will find a strong array of near- and medium-term bullish catalysts:

• Post-Merger Synergies: The integration of EnLink Midstream is already delivering ahead-of-schedule synergies, unlocking scale efficiencies and rapid cash flow accretion.
• Export Capacity Expansion: Groundbreaking of a 400,000-barrel/day Texas LPG terminal promises to entrench ONEOK as an export powerhouse, well positioned to tap surging global demand, especially from Asia and the Middle East. This is strategically relevant for UAE-based investors monitoring the energy value chain.
• Production Growth in Key Basins: Increasing output in the Permian and Rockies regions, coupled with network connectivity, translates into rising volume through ONEOK’s fee-backed infrastructure.
• Shareholder Returns: Sustained quarterly dividends ($1.03/share most recently declared), and opportunistic buybacks, reflect management’s shareholder-first orientation.
• Analyst Consensus: 20+ covering analysts cite an average target of $106.08 (+31.5% from current), highlighting upside conviction, while market sentiment remains anchored in a “Moderate Buy” consensus.
• Sectoral Tailwinds: US midstream assets continue to benefit from regulatory clarity, global energy security trends, and demographic-driven consumption growth—all favorable for infrastructure revenue durability and expansion.
• ESG and Governance: Ongoing focus on ESG-linked initiatives—such as emissions reduction, pipeline integrity, and diverse board composition—aligns with contemporary institutional mandates and may attract incremental flows from ESG-focused funds.

These factors collectively create a multi-layered support base for valuation and sentiment, setting the stage for what appears to be a new bullish phase.

Investment Strategies

The technical and fundamental backdrop suggests several advantageous entry pathways for various investment horizons:

• Short-term: For traders, accumulation near current structural support ($79–$80) provides an optimal risk/reward setup, especially with MACD signaling potential momentum reversal. Bullish confirmation above resistance ($80.70) may act as a trigger for tactical positioning.
• Medium-term: Investors looking ahead to the next 6–12 months should consider the timeline until further EnLink synergies are realized, and new export infrastructure comes online, both of which are poised to drive EPS upgrades and multiple re-rating.
• Long-term: For strategic investors, ONEOK represents a rare blend of robust dividend yield, structural sector leadership, and clear growth optionality—all underpinned by management’s demonstrated execution ability. The correction from 52-week highs appears to offer an entry at attractive valuation point ahead of a likely normalization of sentiment and return to historical trading multiples.

Across each window, the timing appears compelling—particularly for portfolios with a preference for income generation, defensive sector exposures, and upside participation in the North American energy renaissance.

Is it the Right Time to Buy ONEOK?

To summarize, ONEOK’s investment case is firmly anchored in:

• A compelling 5.11% dividend yield and discounted P/E ratio,
• Impressive revenue and profit growth,
• Strategic post-merger synergies and sectoral leadership,
• Proactive capital allocation and shareholder return policies,
• A sequence of imminent growth catalysts,
• Technical signals indicating stabilization and the prospect of reversal.

From an expert perspective, these convergent strengths suggest that ONEOK may be entering a renewed bullish phase—one where the fundamentals and market structure favor a strategic allocation. While short-term volatility is inherent in the midstream space, the present technical landscape and forward-looking fundamentals seem to represent an excellent opportunity for investors seeking resilient yield, exposure to critical US energy infrastructure, and a path to capital appreciation.

ONEOK currently stands out as a high-conviction opportunity for those seeking to position themselves at what may prove to be an inflection point—poised between resilient value and compelling growth. For investors attentive to both market timing and enduring sector trends, the outlook for ONEOK stock appears exceptionally positive.

How to buy ONEOK stock in the UAE?

Buying ONEOK (OKE) shares online has never been simpler or more secure, thanks to regulated brokers that comply with strict international and UAE financial standards. Investors in the UAE can choose between two main approaches: direct spot (cash) purchase of real shares, or trading contracts for difference (CFDs) that track the price of ONEOK stock. Understanding the differences, including risks, fees, and potential gains, helps tailor your investment to your style. To help you get started, a detailed broker comparison tailored for UAE investors is available further down this page.

Spot Buying

Spot buying means purchasing real ONEOK shares in your name via a licensed online broker. This method gives you direct ownership, eligibility for dividends, and potential capital gains if the share price rises. For UAE investors, typical brokerage fees are fixed per transaction, generally ranging from $4 to $10 (around 15 to 35 AED).

Example

Suppose the current ONEOK share price is $80.68, and you invest $1,000. After accounting for a $5 commission, you can buy approximately 12 shares (as $995 / $80.68 ≈ 12.3, rounded down).
- Gain scenario: If the share price increases by 10%, your 12 shares are now worth $88.75 each, totalling $1,065.
- Result: That’s a gross gain of about $100, or +10% on your initial investment (fees excluded).

Trading via CFD

CFD trading lets you speculate on the price movements of ONEOK shares without actually owning them, using leverage to increase your exposure. With CFDs, you pay the spread (the difference between buy and sell prices) and, for positions kept overnight, an extra financing fee. This is a popular choice for active traders aiming for short-term price swings.

Example

You open a CFD position on ONEOK with $1,000 and use 5x leverage, giving you $5,000 exposure to ONEOK’s share price.
- Gain scenario: If the share price rises by 8%, your leveraged position earns 8% x 5 = 40%.
- Result: That’s a $400 profit on your $1,000 margin, before fees.

Final Advice

Before investing, it’s important to compare brokers’ fees, platforms, and trading conditions—costs and available features vary widely, especially between spot and CFD brokers in the UAE market. Your best choice depends on your objectives: investors seeking dividends and long-term growth often prefer spot buying, while those seeking to trade price movements with leverage may choose CFDs. Explore our comprehensive broker comparison below to find the platform that matches your needs and start your investment journey with confidence.

Our 7 tips for buying ONEOK stock

The latest news about ONEOK

ONEOK maintains strong analyst consensus and a high dividend yield, appealing to income-focused investors. The company’s dividend yield remains notably attractive at 5.11% on an annualized basis, which has consistently caught the attention of global income-oriented investors, including those in the United Arab Emirates. As dividend-paying stocks are often favored for stable, recurring returns especially in portfolios such as pension funds or Shariah-compliant mandates (if underlying activities qualify), ONEOK's solid yield stands out amid prevailing market volatility. Analyst sentiment over the last week remains “Moderate Buy,” with a current consensus price target of $106.08, representing a substantial potential upside of over 31% relative to the current share price. This forward-looking consensus, based on over twenty Wall Street analysts, underscores strong confidence in both the company’s midstream infrastructure position and ongoing North American energy growth trends.

Recent financial performance exceeded expectations, fueled by strategic acquisitions and volume growth. For the first quarter of 2025, ONEOK reported net income of $636 million and an adjusted EBITDA of $1.78 billion, exceeding market expectations. This outperformance is primarily attributed to successful integration of EnLink Midstream’s assets (acquired earlier this year), and increased volumes in strategic production regions, notably the Rockies, which are key export channels for energy flows towards growing international markets, including the MENA region. For UAE investors specifically, the company's ability to grow EBITDA and net income through operational synergies is a positive signal, indicating disciplined management and value creation potential despite recent price correction on the stock.

ONEOK enhances global energy export potential with new joint-venture infrastructure projects. In the past few months and reaffirmed in recent corporate communications, ONEOK has entered into joint-venture agreements to construct a 400,000 barrels-per-day LPG (liquefied petroleum gas) export terminal in Texas. This expansion is particularly relevant for the UAE and the broader GCC region, both as major energy exporters and as trading partners rebalancing global supply routes; it also opens new channels for exports from North America to high-demand markets in Asia and the Middle East. For institutional investors in the UAE with interests in the global energy value chain, ONEOK’s commitment to expanding export infrastructure signals a forward-looking approach that could bolster cross-regional trading opportunities.

Technical and market signals indicate short-term consolidation but highlight long-term growth opportunities. Technical indicators as of May 30 show a neutral–to–slightly positive momentum, with the MACD recently crossing into a buy signal territory, suggesting potential for medium-term recovery following the stock’s 29% decline over the past six months. The current share price is situated near a key technical support at $79.24, indicating downside protection, while consensus price targets and fundamentals point to possible appreciation. For UAE analysts, this pattern may represent a tactical accumulation opportunity, as the confluence of technical support and robust fundamentals offers an appealing risk-return profile for diversified portfolios seeking exposure to U.S. energy infrastructure.

ONEOK’s financial discipline and capital return actions improve its investment attractiveness for GCC stakeholders. ONEOK completed a $250 million senior note repayment and repurchased $17.4 million worth of shares in recent months, signaling strong cash flow management and a commitment to shareholder value. These actions, alongside regular quarterly dividends and a proven track record in optimizing its capital structure following the EnLink acquisition, enhance the company’s credibility and risk profile, reassuring institutional investors in the UAE and wider Gulf region who place a premium on fiscal prudence and long-term stability in cross-border holdings.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.