** U.S. pipeline operator ONEOK OKE.N reported lower Q4 profit per share on Monday, hurt by a sharp drop in natural gas transportation profits following its 2024 sale of an interstate pipeline network

** ONEOK shares down 5.6% at $82.44 premarket

BROKERS EYE ONEOK'S OUTLOOK

** RBC Capital Markets ("Sector Perform", PT: $67) says the EBITDA guidance miss mainly reflects lower volume expectations across segments, partly offset by stronger Natural Gas Pipelines forecasts

** Adds that the forecast could drive OKE shares to underperform, but could also represent a clearing event for the stock

** TD Cowen ("Hold",PT:$74) says it wants more clarity on FY26 volume guidance and how much of 4Q weakness was economic versus weather-driven

** Brokerage says it is watching how the weaker near-term outlook shapes ONEOK's medium-term growth prospects, especially in the Rockies, where 4Q25 fees and volumes were lower

** TPH&co ("Hold",PT:82) says co expects low-single-digit growth across NGL, refined products & crude, and gathering and processing (G&P), while natural gas pipelines should slip about 2% on lower marketing and optimization gains later in the year

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))