Financial Performance - Net income for Q3 2024 was $693 million, with diluted earnings per share of $1.18, and adjusted EBITDA of $1.55 billion[3] - ONEOK increased 2024 consolidated net income guidance midpoint to $2.995 billion, with adjusted EBITDA midpoint of $6.625 billion[4] - Stand-alone net income guidance for 2024 increased by $65 million to a midpoint of $2.945 billion, and adjusted EBITDA increased by $100 million to a midpoint of $6.275 billion[5] - ONEOK reported a 3.5 times annualized run-rate net debt-to-EBITDA ratio as of Sept. 30, 2024[14] - Third quarter 2024 adjusted EBITDA increased by $25 million compared to Q3 2023, driven by higher firm and interruptible rates in transportation services[23] - Nine-month 2024 adjusted EBITDA increased by $57 million in transportation services and $13 million from unconsolidated affiliates, offset by an $11 million increase in operating costs[24] - ONEOK increased its 2024 financial guidance, reflecting improved performance in transportation services and unconsolidated affiliates[23][24] - ONEOK reported a 19.9% increase in total revenues to $5,023 million for Q3 2024 compared to $4,189 million in Q3 2023[41] - Net income for Q3 2024 rose to $693 million, up 52.6% from $454 million in Q3 2023[41] - Basic earnings per share increased to $1.18 in Q3 2024 from $0.99 in Q3 2023[41] - Adjusted EBITDA for Q3 2024 was $1.545 billion, compared to $1.015 billion in Q3 2023[50] - ONEOK updated its 2024 financial guidance, projecting Adjusted EBITDA between $6.525 billion and $6.725 billion[54] Segment Performance - Rocky Mountain region NGL raw feed throughput volumes increased by 7%, and natural gas volumes processed increased by 5% in Q3 2024[3] - Natural Gas Pipelines segment adjusted EBITDA increased by 22% in Q3 2024[3] - Natural Gas Liquids segment adjusted EBITDA for Q3 2024 was $624 million, with capital expenditures of $247 million[16] - Refined Products and Crude segment adjusted EBITDA for Q3 2024 was $441 million, with capital expenditures of $45 million[19] - Natural Gas Liquids segment reported Adjusted EBITDA of $624 million for Q3 2024, compared to $616 million in Q3 2023[49] - Refined Products and Crude segment shipped 1,580 MBbl/d of refined products in Q3 2024, up from 1,509 MBbl/d in the nine months ended Sept. 30, 2024[49] - Natural Gas Gathering and Processing segment processed 3,236 BBtu/d of natural gas in Q3 2024, an increase from 3,085 BBtu/d in Q3 2023[49] - Natural Gas Pipelines segment contracted 97% of its natural gas transportation capacity in Q3 2024, up from 96% in Q3 2023[49] - The Refined Products and Crude segment's Adjusted EBITDA for Q3 2024 was $441 million, compared to $41 million in Q3 2023[50] Acquisitions and Projects - ONEOK completed the acquisition of EnLink Midstream for approximately $3.3 billion in October 2024[14] - ONEOK announced a project to rebuild its 210,000 bpd fractionator in Medford, Oklahoma, expected to cost $385 million and be completed by Q1 2027[14] - ONEOK owns 43% of EnLink Midstream's outstanding common units as of October 15, 2024[32] - The company expects to close the Medallion acquisition in Q4 2024, which will contribute to future Adjusted EBITDA[55] Financial Position and Capital Expenditures - Total assets grew to $51,050 million as of Sept. 30, 2024, up from $44,266 million at Dec. 31, 2023[43] - Cash and cash equivalents surged to $6,464 million at the end of Q3 2024, compared to $284 million at the end of Q3 2023[47] - Long-term debt increased to $26,880 million as of Sept. 30, 2024, up from $21,183 million at Dec. 31, 2023[44] - Capital expenditures for the first nine months of 2024 totaled $1,459 million, up from $992 million in the same period of 2023[47] - Cash provided by operating activities for the first nine months of 2024 was $3,277 million, compared to $2,913 million in the same period of 2023[47] - ONEOK held $5,885 million in cash for acquisitions as of Sept. 30, 2024[43] - The company's retained earnings increased to $1,237 million as of Sept. 30, 2024, up from $868 million at Dec. 31, 2023[45] - Capital expenditures for the Natural Gas Liquids segment were $247 million in Q3 2024, up from $189 million in Q3 2023[49] Risks and Forward-Looking Statements - The company faces risks from volatile commodity prices, regulatory changes, and potential cybersecurity attacks[37] - ONEOK's forward-looking statements include potential impacts of acquisitions, such as the EnLink Controlling Interest Acquisition and Medallion Acquisition[38] - The company's financial performance is influenced by factors like demand for natural gas, NGLs, and crude oil, as well as regulatory compliance and reserve performance[37] - ONEOK's ability to pay dividends and maintain internal controls are key considerations for future financial stability[38] Non-GAAP Financial Metrics - Adjusted EBITDA is a non-GAAP financial metric used to measure ONEOK's financial performance, excluding items like interest expense, depreciation, and noncash items[26][27] Operational Overview - ONEOK operates a 50,000-mile pipeline network, transporting natural gas, NGLs, refined products, and crude oil[31]

Increases Financial Guidance for the Second Time in 2024 TULSA, Okla., Oct. 29, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced higher third quarter 2024 results and provided 2024 financial guidance on a consolidated basis that includes contributions from EnLink Midstream (EnLink) and the pending Medallion Midstream (Medallion) acquisition. ONEOK also increased its 2024 financial guidance on a stand-alone basis to be comparable with the previous guidance provided on April 30, 2024. Third Quarte ...

The most recent trading session ended with Oneok Inc. (OKE) standing at $96.66, reflecting a -0.78% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, added 0.56%.The the stock of natural gas company has risen by 9.28% in the past month, leading the Oils-Energy sector's loss of 10.96% and the S&P 500's gain of 1.39%.The investment community will be closely monitoring the perf ...

ONEOK Inc. (OKE) is scheduled to release third-quarter 2024 results on Oct. 29, after market close. The company delivered a negative earnings surprise of 3.5% in the last reported quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Key Factors That May Impact OKE's Q3 ResultsThe bottom line is expected to have gained from strong fee-based contracts, as more than 90% of its revenues are li ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Oneok Inc. (OKE) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on October 29, 2024, might help the stock move higher if these key numbers are better than e ...

Company Performance - Oneok Inc. (OKE) closed at $97.23, with a +0.82% change from the previous day, outperforming the S&P 500's daily gain of 0.4% [1] - Over the past month, Oneok's shares gained 2.85%, while the Oils-Energy sector lost 7.82% and the S&P 500 gained 3.76% [1] - The upcoming earnings report on October 29, 2024, is expected to show earnings of $1.26 per share, reflecting a year-over-year growth of 27.27% [1] - The Zacks Consensus Estimate for revenue is projected at $5.85 billion, up 39.75% from the previous year [1] Full Year Estimates - For the full year, earnings are projected at $5.09 per share, representing a -7.12% change from the prior year, while revenue is expected to be $21.94 billion, reflecting a +24.13% change [2] - Recent analyst estimate revisions indicate optimism about Oneok's business and profitability, which are correlated with near-term share price momentum [2] Zacks Rank and Valuation - Oneok Inc. holds a Zacks Rank of 2 (Buy), with a proven track record of outperformance [3] - The Forward P/E ratio for Oneok is 18.95, which is a premium compared to the industry's average Forward P/E of 12.25 [3] - The PEG ratio for Oneok is 4.17, compared to the average PEG ratio of 1.33 for the Oil and Gas - Production Pipeline - MLB industry [3] Industry Overview - The Oil and Gas - Production Pipeline - MLB industry is part of the Oils-Energy sector and holds a Zacks Industry Rank of 107, placing it in the top 43% of over 250 industries [4] - The top 50% rated industries outperform the bottom half by a factor of 2 to 1, indicating the strength of the industry groups [4]

Group 1 - ONEOK (NYSE: OKE) stock has increased approximately 12% since May, outperforming the broader stock market and midstream sector during this period [1] - The company is recognized as a high-yield investment option, with a strong community on Seeking Alpha consisting of over 1,500 members and a perfect rating of 5/5 from more than 150 reviews [1]

In the latest trading session, Oneok Inc. (OKE) closed at $90.24, marking a +1.22% move from the previous day. This change outpaced the S&P 500's 0.13% loss on the day. Elsewhere, the Dow saw an upswing of 0.33%, while the tech-heavy Nasdaq depreciated by 0.39%. The natural gas company's shares have seen a decrease of 1.11% over the last month, surpassing the OilsEnergy sector's loss of 4.69% and falling behind the S&P 500's gain of 2.43%. The upcoming earnings release of Oneok Inc. will be of great interes ...

Oneok Inc. (OKE) closed at $94.66 in the latest trading session, marking a +1.05% move from the prior day. This change outpaced the S&P 500's 0.03% gain on the day. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.2%. Prior to today's trading, shares of the natural gas company had gained 5.97% over the past month. This has outpaced the Oils-Energy sector's loss of 3.35% and the S&P 500's gain of 1.54% in that time. Investors will be eagerly watching for the performance of Oneok Inc ...

Core Viewpoint - ONEOK Inc. is issuing $7 billion in senior notes to fund acquisitions and general corporate purposes, with a closing date expected around September 24, 2024 [1][2]. Group 1: Senior Notes Offering - The senior notes will be issued in six tranches with coupon rates ranging from 4.25% to 5.85%, and maturity dates spanning from 3 to 40 years [1]. - The net proceeds after deductions are anticipated to be $6.92 billion [1]. Group 2: Utilization of Proceeds - The primary use of the proceeds will be to finance the acquisition of Global Infrastructure Partners' interests in EnLink Midstream, LLC and Medallion Midstream, LLC, along with related fees and expenses [2]. - Remaining proceeds will be allocated for general corporate purposes, which may include repaying outstanding debt or redeeming existing notes [3]. Group 3: Financial Health - ONEOK's times interest earned ratio is 4, indicating sufficient financial flexibility to meet interest obligations despite the increased debt burden from new senior notes [4]. Group 4: Recent Acquisitions - In May 2024, ONEOK acquired a system of NGL pipelines from Easton Energy for $280 million, enhancing connectivity in the Gulf Coast [5]. - The company completed an $18.8 billion merger with Magellan Midstream Partners, L.P. in September 2023, positioning itself as one of the largest oil and natural gas pipeline companies in the U.S. [5]. Group 5: Industry Context - The oil and natural gas pipeline industry is highly competitive, with operators expanding through acquisitions [7]. - Other notable acquisitions in the industry include Energy Transfer's $2.28 billion acquisition of WTG Midstream Holdings LLC and Trace Midstream's acquisition of natural gas assets in the Northern Delaware Basin [8][9]. Group 6: Stock Performance - ONEOK's shares have outperformed the industry, returning 47.4% over the last year compared to the industry's 30.2% [10].