Here are the 10-K annual reports from Oneok, Inc. (OKE) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow OKE and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full OKE filings page.
ONEOK, Inc. outlines a year of expansion and integration across its midstream platform. The company completed the EnLink acquisition, issuing 41 million shares valued at $4.0 billion, and reports higher 2025 earnings in Natural Gas Gathering and Processing, Natural Gas Liquids, and Refined Products and Crude, with a decline in Natural Gas Pipelines after a 2024 divestiture.
About 90% of 2025 consolidated earnings were fee-based, reducing direct commodity price exposure. The Board raised the quarterly dividend to $1.07 per share, a 4% increase, and ONEOK continued a $2.0 billion share repurchase program, buying back $234 million of stock.
Growth projects include the $941 million Delaware Basin JV Acquisition, the planned 300 MMcf/d Bighorn gas plant and other Permian expansions, the Elk Creek NGL pipeline expansion, a joint venture with MPLX for a Texas City LPG export terminal and MBTC pipeline with about $1.0 billion of planned investment, the Eiger Express gas pipeline with about $350 million of planned investment, and a fully subscribed refined products expansion into the Denver area. ONEOK also reports progress toward its 2030 greenhouse-gas reduction target, having achieved about 1.8 of 2.2 million metric tons of planned Scope 1 and 2 reductions.