ONEOK, Inc. Common Stock (OKE)

Competitors to ONEOK, Inc. Common Stock (OKE)

EnLink Midstream, LLC 

EnLink Midstream competes with ONEOK primarily in the transportation and processing of natural gas and NGLs (natural gas liquids). Both companies have extensive pipeline networks in key shale regions, allowing them to offer services to producers and consumers in the energy market. However, ONEOK's more diverse and larger-scale operations provide it with a competitive edge in terms of operational capacity and access to a wider range of markets. Nonetheless, EnLink's strong focus on customer service and regional expertise creates niche advantages in certain areas.

Magellan Midstream Partners, L.P.

Magellan Midstream Partners competes with ONEOK in the transportation and storage of refined petroleum products and crude oil. Magellan operates a vast pipeline system primarily in the Midwestern and Southern United States, aiming to provide a reliable and cost-effective alternative to ONEOK’s natural gas and NGL-focused services. Magellan's established infrastructure and strong relationships in the refined product market give it a competitive advantage in certain niches; however, ONEOK's larger footprint in the natural gas sector provides a more diversified revenue stream.

TC Energy Corporation 

TC Energy Corporation is a significant competitor to ONEOK, particularly in the transportation of natural gas through its extensive pipeline network across North America. Both companies are involved in similar services, including gathering, processing, and transporting natural gas. TC Energy boasts a well-established reputation and a larger portfolio of long-distance pipelines, providing it with a scale advantage over ONEOK in some segments. Nevertheless, ONEOK's specialization in NGLs offers unique opportunities that TC Energy may not capitalize on as effectively.

Williams Companies, Inc. 

The Williams Companies are a direct competitor to ONEOK in the areas of natural gas and NGL midstream services. Both companies have significant infrastructure investments in large-scale pipelines and processing plants. Williams has a substantial market presence with its extensive pipeline networks and its focus on natural gas and renewables, creating both competition and potentially strategic partnerships. However, ONEOK's broader range of products and services, along with its strong market presence in key shale plays, positions it strongly against Williams, leading to competitive parity rather than a clear leader.