Is OKE (ONEOK, Inc.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, OKE is classified as Doubtful. It passed 3 of 4 compliance screens. Some scholars may permit investing with income purification, while others advise avoiding it. We recommend consulting a qualified Islamic scholar before investing in OKE.

ONEOK, Inc. is a major player in the US energy sector, focusing on the oil and gas midstream industry. The company primarily gathers, processes, stores, and transports natural gas and natural gas liquids (NGLs) across the Mid-Continent and Rocky Mountain regions. For Muslim investors using HalalStocks.co.uk, ONEOK is currently classified as Doubtful. While the company's core energy infrastructure business is entirely permissible, it fails the AAOIFI financial screening due to excessive debt, meaning it does not currently meet the strict criteria for a halal portfolio. The primary concern from an Islamic finance perspective is ONEOK's debt-to-market cap ratio, which stands at an elevated 57.8%, far exceeding the 33% limit. However, its other financial metrics are exceptionally clean, with interest-bearing cash and securities at just 0.1% of market cap and zero interest income reported. Given the capital-intensive nature of the midstream energy sector, high debt loads are common, but Muslim investors must adhere to the 33% limit. Investors interested in ONEOK should monitor its balance sheet to see if the company successfully deleverages and reduces its reliance on interest-bearing debt in upcoming quarters. ONEOK, Inc. operates in the Energy sector under the Oil & Gas Midstream industry and is headquartered in Tulsa, OK, US. The company is led by CEO Pierce H. Norton and employs approximately 6,326 people.

OKE was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. OKE passed 3 of these 4 screens.

OKE was last screened on 2026-04-29. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.