Arctic-Images There's plenty of value to be had in industries that get durable and recurring income streams, as that can translate into portfolio stability and dividends in both good times and bad. That's why I'm fine with tuning out the noise and don't get FOMO from not participating in the Al-driven tech rally. I'd rather sleep well at night knowing that I don't need to worry about when to take chips off the table, and am content with getting reliable income streams from toll road-like businesses. Thi ...

Christine_Kohler/iStock via Getty ImagesONEOK (NYSE:OKE) is a leading midstream service provider with an extensive natural gas pipeline network. ONEOK is seeing strong volume momentum across its business segments, in part due to the acquisition of Magellan Midstream Partners last year, which has translated into a boost to the company's EBITDA as well. ONEOK submitted a strong EBITDA outlook for FY 2023 and the midstream firm looks back on a quarter of a century of very solid dividend growth. I believe O ...

Yauhen Akulich Introduction The other day, I was looking into ICE Midland WTI futures as part of my research into Intercontinental Exchange (ICE), the owner of these futures and one of my favorite financial dividend growth stocks - that is not yet a part of my portfolio. So, I thought, why not start this article with a micro lecture on this futures contract? I believe that most will be familiar with the NYMEX WTI future, which is owned by the CME Group (CME). Next to ICE Brent, it's the biggest oil fu ...

ONEOK Inc. (OKE) continues to benefit from higher fee-based earnings and capital expenditure plans. Its expansion efforts and pipeline additions are expected to strengthen its position in the high-production region and boost its performance. The company's organic initiatives and diverse customers act as tailwinds.However, this Zacks Rank #3 (Hold) company faces risks related to the maintenance expenses of the land and strong competition in its pipeline business.TailwindsONEOK is poised to benefit from long- ...

In the latest trading session, Oneok Inc. (OKE) closed at $77.12, marking a -0.68% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.19%. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq decreased by 0.54%.The natural gas company's stock has climbed by 11.76% in the past month, exceeding the Oils-Energy sector's gain of 3.8% and the S&P 500's gain of 3.18%.The investment community will be paying close attention to the earnings p ...

TULSA, Okla., Feb. 29, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) will hold its 2024 annual meeting of shareholders at 9 a.m. Central Daylight Time (CDT) on May 22, 2024, as a virtual meeting only. The meeting will be accessible through a live webcast. The record date for determining shareholders entitled to receive notice of the meeting and to vote is March 25, 2024. What:        ONEOK, Inc. 2024 Annual Meeting of Shareholders When:        9 a.m. CDT, May 22, 2024 Where:      Virtual meeting ...

| --- | --- | --- | |-------------------------------------------------------|-------------------------------------------------------------------------|---------------------------------------------------------------------------| | Financial | Operational | ESG | | • 10 consecutive years of EBITDA growth. | • Successfully completed acquisition of Magellan Midstream Partners. | • Received an MSCI ESG Rating of AAA in 2023. | | • 3.7% dividend increase. • $3.96/share annualized. | • Record volumes: • NGL volume ...

Financial Data and Key Metrics Changes - ONEOK reported a net income midpoint of more than $2.8 billion for 2024, with an EPS midpoint of $4.88 per diluted share and an adjusted EBITDA midpoint of $6.1 billion [44] - The company extinguished $1.3 billion of long-term debt in 2023, achieving a net debt-to-EBITDA ratio of approximately 3.5x [23] - The quarterly dividend was increased by 3.7% to $0.99 per share, targeting an annual growth rate of 3% to 4% [23] Business Line Data and Key Metrics Changes - The Natural Gas Pipeline segment exceeded its 2023 financial guidance due to higher earnings from long-term storage services and increased rates from negotiated fee-based contracts [46] - The Refined Products and Crude segment achieved adjusted EBITDA of over $420 million in its first full quarter post-acquisition of Magellan, driven by tariff increases and steady transportation volumes [46] - Natural gas processing volumes increased by 14% and NGL volumes by 10% year-over-year, with significant growth in the Rocky Mountain region [26] Market Data and Key Metrics Changes - The Mid-Continent processing volume increased by 15% year-over-year, while Permian Basin NGL volumes rose by 19% [18] - The company expects stable producer activity and production efficiency improvements to drive strong natural gas and NGL volumes across its systems in 2024 [27] - The company anticipates healthy demand for ethane from the petrochemical industry, contributing to a positive outlook for NGL markets in 2024 [28] Company Strategy and Development Direction - ONEOK aims to maintain financial flexibility and capitalize on attractive growth opportunities, focusing on capital allocation strategies that enhance return on invested capital [7] - The company plans to execute a $2 billion share repurchase program over the next four years, complementing its dividend growth strategy [16] - The integration of the Magellan acquisition is a priority, with a focus on realizing synergies and enhancing competitive positioning [57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit adjusted EBITDA growth in 2024, supported by solid business fundamentals and demand for products [21] - The company highlighted the importance of safety and sustainability, consistently ranking high among industry peers [22] - Management noted that the operational platform has increased scale and diversification, positioning ONEOK for significant growth opportunities in 2024 [33] Other Important Information - The company expects to realize $175 million in total annual cost and initial commercial synergies in 2024, with an additional $125 million in 2025 [24] - Capital expenditures are projected at $1.85 billion, reflecting investments necessary to support producer activity and growth projects [17] - The company is working on expanding natural gas storage capabilities and has received regulatory approval for the Saguaro Connector Pipeline [30] Q&A Session All Questions and Answers Question: Can you provide concrete commercial examples driving the upward revision of synergies? - Management indicated that synergies are expected to reach approximately $400 million, driven by the integration of refined products and crude oil systems [35] Question: What are the assumptions for third-party frac costs in 2024? - The company expects third-party frac costs to be about $30 million per quarter in 2024, with significant impacts from the MB-6 project coming online in early 2025 [37] Question: How do you see dynamics playing out for Northern Border? - Management noted that volumes from long-term producers will continue to flow down Northern Border, with no expected restrictions in the near future [64] Question: What is the expected return multiple on the three major projects coming online in 2025? - Management indicated that MB-6 is expected to have a high operating rate and a favorable return multiple, while the Elk Creek expansion may have a lower return initially [66] Question: How does the company view potential LPG export opportunities? - The company is exploring LPG export options but does not see it as a necessity, given current market capabilities [124]

ONEOK Inc. (OKE) reported fourth-quarter 2023 operating earnings per share (EPS) of $1.18 per share, which lagged the Zacks Consensus Estimate of $1.21 per share by 2.4%. However, the bottom line improved 9.2% from the year-ago quarter’s figure of 1.08.OKE reported earnings of $5.48 per share for 2023 compared with $3.84 per share in 2022, which reflects a year-over-year increase of 42.7%.Total RevenuesOperating revenues for the quarter totaled $5.2 billion, which missed the Zacks Consensus Estimate of $5.5 ...

Oneok Inc. (OKE) reported $5.24 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 4%. EPS of $1.18 for the same period compares to $1.08 a year ago.The reported revenue represents a surprise of -6.07% over the Zacks Consensus Estimate of $5.57 billion. With the consensus EPS estimate being $1.21, the EPS surprise was -2.48%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine the ...