KMI vs OKE

For growth investors, ONEOK, Inc.

(OKE) is the stronger pick with 55. 4% revenue growth year-over-year, versus 12. 5% for Kinder Morgan, Inc. (KMI). ONEOK, Inc. (OKE) offers the better valuation at 15. 8x trailing P/E (15. 2x forward), making it the more compelling value choice. Analysts rate Kinder Morgan, Inc. (KMI) a "Hold" — based on 34 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, ONEOK, Inc.

(OKE) is the cheapest at 15. 8x versus Kinder Morgan, Inc. at 23. 0x. On forward P/E, ONEOK, Inc. is actually cheaper at 15. 2x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Kinder Morgan, Inc. wins at 0. 23x versus ONEOK, Inc. 's 0. 50x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, Kinder Morgan, Inc.

(KMI) delivered a total return of +108. 4%, compared to +97. 7% for ONEOK, Inc. (OKE). Over 10 years, the gap is even starker: OKE returned +210. 5% versus KMI's +142. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Kinder Morgan, Inc.

(KMI) is the lower-risk stock at 0. 10β versus ONEOK, Inc. 's 0. 14β — meaning OKE is approximately 45% more volatile than KMI relative to the S&P 500. On balance sheet safety, Kinder Morgan, Inc. (KMI) carries a lower debt/equity ratio of 100% versus 145% for ONEOK, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), ONEOK, Inc.

(OKE) is pulling ahead at 55. 4% versus 12. 5% for Kinder Morgan, Inc. (KMI). On earnings-per-share growth, the picture is similar: Kinder Morgan, Inc. grew EPS 17. 1% year-over-year, compared to 4. 8% for ONEOK, Inc.. Over a 3-year CAGR, OKE leads at 13. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Kinder Morgan, Inc.

(KMI) is the more profitable company, earning 18. 0% net margin versus 10. 1% for ONEOK, Inc. — meaning it keeps 18. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: KMI leads at 28. 4% versus 20. 7% for OKE. At the gross margin level — before operating expenses — KMI leads at 43. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, Kinder Morgan, Inc. (KMI) is the more undervalued stock at a PEG of 0. 23x versus ONEOK, Inc. 's 0. 50x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, ONEOK, Inc. (OKE) trades at 15. 2x forward P/E versus 22. 3x for Kinder Morgan, Inc. — 7. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for KMI: 11. 1% to $35. 00.

All stocks in this comparison pay dividends.

ONEOK, Inc. (OKE) offers the highest yield at 4. 8%, versus 3. 7% for Kinder Morgan, Inc. (KMI).

For long-horizon retirement investors, ONEOK, Inc.

(OKE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 14), 4. 8% yield, +210. 5% 10Y return). Both have compounded well over 10 years (OKE: +210. 5%, KMI: +142. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: KMI is a mid-cap income-oriented stock; OKE is a mid-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.