The Tulsa, OK-based company is the sole general partner of ONEOK Partners (OKS), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the U.S.
"While we believe OKS should benefit longer term from ethane recovery and renewed drilling in the Williston Basin and SCOOP/STACK plays as commodity prices improve, we do not forecast distribution growth at OKS and consequently dividend growth at OKE until 2018," the firm said in an analyst note.
The firm is cautious on the near-term given direct and indirect commodity price exposure.
Shares of Oneok closed lower by 1.22% to $28.33 on Monday.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
Among the primary strengths of the company is its respectable return on equity which we feel is likely to continue.
At the same time, however, the team also finds weaknesses including generally higher debt management risk, a generally disappointing performance in the stock itself and deteriorating net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: OKE