ONEOK stock split: what it means for traders
ONEOK has undertaken several stock splits over its public history, each adjusting the number of shares outstanding and the price per share without changing the company’s underlying value.
ONEOK has carried out several splits over its stock history, most recently in the 2010s. Understanding when and why these splits occurred can help provide context for historical share-price movements, while recognising that a stock split does not, in itself, change a company’s underlying value.
ONEOK live share price
Past performance is not a reliable indicator of future results. Share prices are indicative and may differ from live market prices.
What is a stock split?
A stock split is a corporate action that increases or decreases the number of shares outstanding by dividing existing shares into a new ratio. In a forward split, each share is divided into multiple shares, reducing the price per share proportionally. In a reverse split, multiple shares are combined into one, increasing the price per share.
At the moment a stock split takes effect, a company’s market capitalisation, earnings and underlying business remain unchanged. The adjustment is mechanical: the share count and price are recalculated to reflect the new ratio. You can read a more general explanation of how stock splits work in our glossary guide.
ONEOK’s latest stock split
ONEOK’s most recent stock split took effect on 3 February 2014. The company implemented a forward split with a ratio of approximately 1.142:1, commonly reported as either 11,422-for-10,000 or 5,711-for-5,000. These ratios are mathematically equivalent and represent the same adjustment.
Ahead of the split, ONEOK shares traded at around 68.49 per share. After the split, the price adjusted lower on a split-adjusted basis, with shareholders receiving additional shares in proportion to their existing holdings. As with other forward splits, this adjustment did not change ONEOK’s total market value or the economic interest held by each investor at the time.
Why did ONEOK conduct a share split?
ONEOK’s 2014 stock split followed a period of solid operational and share-price performance. Around this time, the company was repositioning itself as a pure-play midstream business, focusing on natural gas gathering, processing and transportation.
Forward splits are often used to keep a company’s share price within a range that management considers practical for trading and liquidity. In ONEOK’s case, the split was intended to support liquidity and broaden potential participation in the shares, rather than to alter earnings power or intrinsic value per share.
Will ONEOK split again in 2026?
As of 14 January 2026, there has been no public announcement, regulatory filing or formal communication indicating that ONEOK plans another stock split in 2026.
Any future split would depend on decisions by the Board of Directors, prevailing share-price levels and broader strategic considerations. At present, there is no disclosed timetable or stated intention for a stock split during 2026.
ONEOK stock split history
ONEOK has a long history of forward stock splits, with actions dating back to the 1970s. These splits have generally occurred during periods of growth and rising share prices, rather than as part of reverse share consolidations.
| Split date | Split ratio | Type | Notes |
|---|---|---|---|
| 3 February 2014 | 11,422-for-10,000 (≈1.142:1) | Forward | OKE’s most recent split; cumulative effect of all splits is about 13.71:1 versus pre-1978 levels. |
| 4 June 2012 | 2-for-1 | Forward | Doubled the number of shares outstanding. |
| 12 June 2001 | 2-for-1 | Forward | Continued expansion following earlier growth phases. |
| 1 March 1990 | 2-for-1 | Forward | Adjusted share count during a period of rising prices. |
| 17 January 1978 | 3-for-2 (1.5:1) | Forward | First recorded stock split. |
Taken together, these actions mean that one share held before the first split in 1978 would now represent approximately 13.71 shares, after accounting for all subsequent splits.
Latest earnings: ONEOK FY2025 results
For the third quarter of 2025, ONEOK reported net income of around 940m, equivalent to approximately 1.49 per diluted share. Adjusted EBITDA for the quarter was about 2.12bn, both higher than in the same period a year earlier.
Over the first nine months of 2025, results reflected contributions from acquired assets, including EnLink and Medallion, as well as higher natural gas liquids and natural gas volumes in key operating basins. These factors were partly offset by lower realised liquids prices and the impact of asset divestitures completed in the prior year.
Outlook and upcoming developments
ONEOK has reaffirmed its full-year 2025 guidance ranges for net income and adjusted EBITDA, reflecting management’s expectations for its largely fee-based midstream operations.
Looking into 2026, the company is targeting further growth in EBITDA and earnings. This is expected to be supported by higher volumes in the Rocky Mountain and Mid-Continent regions, full-year contributions from recently acquired midstream platforms, and the progression of capital projects designed to expand natural gas and natural gas liquids infrastructure.
Summary – OKE stock splits
- A stock split changes the number of shares and the price per share, but does not affect a company’s underlying value.
- ONEOK’s most recent stock split was a forward split that took effect in February 2014.
- The split followed a period of operational progress and a strategic shift towards pure-play midstream operations.
- There is currently no indication of another ONEOK stock split planned for 2026.
- ONEOK’s long-term split history shows multiple forward splits typically associated with periods of growth, rather than reverse consolidations.
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