ONEOK Stock Nears Highs on Data Center Gas Deal and Strong 2026 Guidance

Key Facts

As energy infrastructure becomes increasingly vital for technological expansion, ONEOK has successfully linked its operations to the booming data center sector. The company secured a strategic contract to supply natural gas to a 1-gigawatt power plant integrated with data center operations, reflecting a shift toward servicing AI-driven energy needs. This move coincides with the release of robust financial guidance for 2026, which has pushed the stock to trade above the consensus price target set by analysts.

Per market data, recent financial results showed a significant beat, with earnings per share reaching $1.53, exceeding the $1.46 estimate. Revenue for the period came in at $12.05 billion against expectations of $8.95 billion, representing a $3.10 billion surprise over analyst consensus. These figures, supported by a net margin of 9.29%, underscore high operational efficiency in managing midstream assets amid rising demand for natural gas infrastructure.

ONEOK (OKE) shares stood at $93.33 at close on August 21, 2026, remaining near the 52-week high of $97.90. Traders are monitoring the stock's ability to sustain momentum above the $91.94 consensus price target, especially as it remains positioned above its 50-day and 200-day moving averages. With no immediate company-specific catalysts in the upcoming economic calendar, focus remains on the execution of new energy contracts and their impact on long-term cash flows.