OKE Stock Surges 13% With A 7-day Winning Spree On 4% Dividend Hike
ONEOK (OKE) – a natural gas gathering, processing, storage, and transportation company – hit a 7-day winning streak, with cumulative gains over this period amounting to 13%. The company’s market cap has surged by about $6.0 Bil over the last 7 days and currently stands at $54 Bil.
The stock has YTD (year-to-date) return of 17.1% compared to 1.4% for S&P 500. This calls for a re-evaluation of the stock’s valuation to find out whether this is an opportunity or a trap.
What Triggered The Rally?
[1] Dividend Increase Amid Strong Sector Momentum
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- Raised quarterly dividend by 4% to $1.07 per share
- Energy sector is top-performer year-to-date
- Impact: Increased Investor Confidence, Broad Energy Sector Outperformance
Opportunity or Trap?
Below is our take on valuation.
There are only a couple of things to fear in OKE stock given its overall Strong operating performance and financial condition. Hence, despite its Moderate valuation, this makes the stock look Risky (For details, see Buy or Sell OKE).
But here is the real interesting point.
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Returns vs S&P 500
The following table summarizes the return for OKE stock vs. the S&P 500 index over different periods, including the current streak:
| Return Period | OKE | S&P 500 |
|---|---|---|
| 1D | 1.7% | -0.0% |
| 7D (Current Streak) | 12.7% | -0.5% |
| 1M (21D) | 18.7% | -0.5% |
| 3M (63D) | 26.7% | 1.6% |
| YTD 2026 | 17.1% | 1.4% |
| 2025 | -22.9% | 16.4% |
| 2024 | 50.1% | 23.3% |
| 2023 | 13.2% | 24.2% |
However, big gains can follow sharp reversals – but how has OKE behaved after prior drops? See OKE Dip Buyer Analysis to learn more.
Gains and Losses Streaks: S&P 500 Constituents
There are currently 101 S&P constituents with 3 days or more of consecutive gains and 52 constituents with 3 days or more of consecutive losses.
| Consecutive Days | # of Gainers | # of Losers |
|---|---|---|
| 3D | 23 | 40 |
| 4D | 56 | 5 |
| 5D | 9 | 3 |
| 6D | 3 | 1 |
| 7D or more | 10 | 3 |
| Total >=3 D | 101 | 52 |
Key Financials for ONEOK (OKE)
Last 2 Fiscal Years:
| Metric | FY2023 | FY2024 |
|---|---|---|
| Revenues | $17.7 Bil | $21.7 Bil |
| Operating Income | $4.2 Bil | $5.1 Bil |
| Net Income | $2.7 Bil | $3.0 Bil |
Last 2 Fiscal Quarters:
| Metric | 2025 FQ2 | 2025 FQ3 |
|---|---|---|
| Revenues | $7.9 Bil | $8.6 Bil |
| Operating Income | $1.5 Bil | $1.6 Bil |
| Net Income | $841.0 Mil | $939.0 Mil |
While OKE stock looks attractive given its winning streak, investing in a single stock without detailed, thorough analysis can be risky. The Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 — the S&P 500, S&P mid-cap, and Russell 2000 indices. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.