TULSA, Okla., Sept. 10, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced that it has priced an offering to sell $7.0 billion of senior notes, consisting of: $1.25 billion of 3-year senior notes at a coupon of 4.25%. $600 million of 5-year senior notes at a coupon of 4.40%. $1.25 billion of 7-year senior notes at a coupon of 4.75%. $1.60 billion of 10-year senior notes at a coupon of 5.05%. $1.50 billion of 30-year senior notes at a coupon of 5.70%. $800 million of 40-year senior notes at a coupo ...

Oneok Inc. (OKE) closed the most recent trading day at $91.72, moving -0.35% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.45%. Meanwhile, the Dow experienced a drop of 0.23%, and the technology-dominated Nasdaq saw an increase of 0.84%. Shares of the natural gas company have appreciated by 8.05% over the course of the past month, outperforming the Oils-Energy sector's loss of 2.65% and the S&P 500's gain of 2.54%. The upcoming earnings release of Oneok ...

The latest trading session saw Oneok Inc. (OKE) ending at $91.32, denoting a -1% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.16%. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq depreciated by 0.3%. Prior to today's trading, shares of the natural gas company had gained 12.05% over the past month. This has outpaced the Oils-Energy sector's gain of 0.93% and the S&P 500's gain of 3.64% in that time. The investment community wil ...

Core Viewpoint - Oneok Inc. has shown a positive stock performance, gaining approximately 12.1% since its last earnings report, outperforming the S&P 500, but there are concerns about whether this trend will continue leading up to the next earnings release [1] Financial Performance - For Q2 2024, Oneok reported operating earnings per share (EPS) of $1.33, exceeding the Zacks Consensus Estimate of $1.18 by 12.7% and improving 27.9% from $1.04 in the same quarter last year [2] - Total operating revenues were $4.89 billion, missing the Zacks Consensus Estimate of $5.52 billion by 11.3%, but representing a 31.1% increase from $3.73 billion in the prior-year quarter [3] - Adjusted EBITDA reached $1.62 billion, up 65.5% year over year, while operating income was $1.23 billion, a 66.7% increase from $0.74 billion in the previous year [4] Operational Metrics - The total natural gas processed was 3,102 billion British thermal units per day (BBtu/d), reflecting a 6.2% year-over-year increase [4] - Natural gas transportation capacity contracted was 7,991 million British thermal units per hour per day (MDth/d), which increased by 4.4% year over year [5] Financial Position - As of June 30, 2024, cash and cash equivalents were $36 million, down from $338 million as of December 31, 2023 [6] - Long-term debt (excluding current maturities) totaled $20.3 billion, a decrease from $21.2 billion as of December 31, 2023 [6] - Cash provided by operating activities for the first half of 2024 was $2.03 billion, compared to $1.99 billion in the same period of 2023 [6] Future Guidance - Oneok expects its consolidated net income for 2024 to be in the range of $2.73-$3.03 billion and adjusted EBITDA to be between $6.03-$6.33 billion [7] - Interest expense, net of capitalized interest, is anticipated to be in the range of $1.195-$1.165 billion [7] Market Sentiment - Recent estimates for Oneok have trended downward, indicating a potential shift in market sentiment [8] - The company currently holds a Zacks Rank 3 (Hold), suggesting an expectation of an in-line return in the coming months [10] Industry Comparison - Oneok operates within the Zacks Oil and Gas - Production Pipeline - MLB industry, where competitor Enterprise Products Partners (EPD) has seen a 0.9% gain over the past month [11] - Enterprise Products reported revenues of $13.48 billion for the last quarter, a year-over-year increase of 26.6%, with EPS of $0.64 compared to $0.57 a year ago [11]

Group 1 - ONEOK, Inc. will participate in the Barclays CEO Energy-Power Conference on September 4-5, 2024, in New York, with a management team fireside chat scheduled for September 4 at 2:25 p.m. Eastern Time [1] - The session will be available for live webcast and replay on ONEOK's website [1] - ONEOK is a leading midstream operator with a pipeline network exceeding 50,000 miles, providing essential energy services [2] Group 2 - ONEOK is recognized as one of the largest diversified energy infrastructure companies in North America, contributing to energy security and meeting both domestic and international energy demands [2] - The company is headquartered in Tulsa, Oklahoma, and is part of the S&P 500 index [3] - For further information and updates, ONEOK maintains a presence on various social media platforms [3]

Core Viewpoint - ONEOK, Inc. is expanding its presence in the Permian and MidContinent basins through a $5.9 billion acquisition of midstream assets from Global Infrastructure Partners, which will enhance its position in the U.S. production pipeline and storage industry [1]. Group 1: ONEOK's Strategic Investments - ONEOK will acquire GIP's 43% stake in EnLink Midstream for $14.90 per unit, totaling approximately $3.3 billion in cash, along with GIP's equity interests in Medallion Midstream for $2.6 billion [2]. - The acquisitions are expected to increase ONEOK's capacity for moving and processing oil, gas, and natural gas liquids in the targeted basins [3]. Group 2: Industry Growth Prospects - The oil and gas production pipeline industry is capital-intensive, requiring substantial investments for pipeline construction and maintenance [4]. - The demand for natural gas in the U.S. is projected to rise due to the growth of natural gas-fired power plants and increasing LNG exports, benefiting ONEOK's investments in the Permian and Mid-Continent basins [5]. Group 3: Peer Company Insights - Kinder Morgan, Inc. is expanding its natural gas pipeline network, recently acquiring NextEra Energy Partners' pipelines for $1.82 billion [6]. - The Williams Companies, Inc. has increased its capacity by 50% over the past eight years, with a long-term earnings growth rate of 3.8% [7]. - MPLX LP plans to invest $1.1 billion in 2024, focusing on expansion initiatives, and has a long-term earnings growth rate of 8.5% [8][9]. Group 4: Stock Performance - ONEOK's shares have increased by 13.9% over the past three months, outperforming the industry's growth of 6.2% [10].

Core Viewpoint - ONEOK, Inc. is actively participating in investor meetings at the Citi Midstream and New Energy Infrastructure Conference, highlighting its role in the energy sector and its commitment to providing essential energy services [1]. Company Overview - ONEOK is a leading midstream operator in North America, offering a comprehensive range of services including gathering, processing, fractionation, transportation, and storage of energy products [2]. - The company operates a vast pipeline network exceeding 50,000 miles, facilitating the transportation of natural gas, natural gas liquids (NGLs), refined products, and crude oil to meet both domestic and international energy demands [2]. - As one of the largest diversified energy infrastructure companies in North America, ONEOK plays a crucial role in enhancing energy security and delivering reliable energy solutions [2]. Additional Information - ONEOK is listed on the S&P 500 and is headquartered in Tulsa, Oklahoma [3]. - For further details, ONEOK provides resources on its official website and maintains a presence on various social media platforms [3].

Financial Data and Key Metrics Changes - ONEOK's Q2 2024 net income reached $780 million, or $1.33 per share, marking a 28% increase year-over-year and a 22% increase from the previous quarter [8] - Adjusted EBITDA for Q2 2024 totaled $1.6 billion, driven by higher NGL and natural gas processing volumes [8] - The company affirmed its 2024 financial guidance, with an expected adjusted EBITDA midpoint of $6.175 billion [9] Business Line Data and Key Metrics Changes - The natural gas liquids segment saw volume growth of 17% in the Rocky Mountain region and 16% in the Mid-Continent region compared to Q1 2024 [11] - In the refined products and crude segment, strong demand for gasoline and jet fuel was noted, supported by the summer travel season [15] - The natural gas gathering and processing segment reported a 10% year-over-year increase in Rocky Mountain region processing volumes, averaging over 1.6 Bcf per day [16] Market Data and Key Metrics Changes - The company reported increased transportation services in the natural gas pipeline segment, benefiting from higher firm and interruptible transportation rates [17] - The demand for natural gas storage remains high, with ongoing expansion projects in Texas and Oklahoma [17] Company Strategy and Development Direction - ONEOK is focused on expanding its systems and capturing value downstream, particularly through recent acquisitions and organic growth opportunities [5][6] - The company is committed to investing alongside customers and is seeing significant synergies from the Magellan acquisition [7] - A new project to rebuild a 210,000 barrels per day NGL fractionator in Medford, Oklahoma, is expected to enhance fractionation capacity and efficiency [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future growth due to long-term volume commitments and strong operating performance [7] - The company anticipates capturing synergies exceeding $175 million in 2024 and additional annual synergies of at least $125 million in 2025 [9] - Management acknowledged the resilience of employees during Hurricane Beryl and emphasized the company's commitment to sustainability [18] Other Important Information - The company completed the acquisition of NGL assets from Easton Energy, enhancing connectivity between NGL and refined product systems [14] - ONEOK's credit facility maturity was extended to June 2028, with no borrowings outstanding under its $2.5 billion credit agreement [9] Q&A Session Summary Question: Guidance for the year - Management indicated confidence in meeting or exceeding the midpoint of guidance, with a review planned for the third quarter [20][21] Question: Risk assessment in Bakken - Management does not expect a material impact from a competitor's NGL pipeline, citing long-term contracts and superior service [22][23] Question: Synergies from Easton acquisition - The Easton acquisition is expected to accelerate commercial synergies and improve capital efficiency [25][26] Question: Strength in refined products and crude segment - Management noted strong synergy capture and seasonal demand, with expectations for increased earnings due to market conditions [29][30] Question: Denver expansion project economics - The Denver project is projected to have a favorable return on investment with low-cost expansion opportunities [31] Question: Ethane recovery outlook - Ethane recovery is expected to be volatile, influenced by natural gas prices, but there are signs of recovery in the market [33][34] Question: Medford rebuild decision - The Medford project is seen as a low-cost option to enhance fractionation capacity and improve system efficiency [54][56] Question: Share repurchase plans - The company remains committed to its $2 billion share repurchase program, with allocations to be made as opportunities arise [46][53]

ONEOK Inc. (OKE) reported second-quarter 2024 operating earnings per share (EPS) of $1.33, which surpassed the Zacks Consensus Estimate of $1.18 by 12.7%. The bottom line also improved 27.9% from the year-ago quarter's figure of $1.04 per share. Total Revenues Operating revenues totaled $4.89 billion, which missed the Zacks Consensus Estimate of $5.52 billion by 11.3%. However, the top line improved 31.1% from $3.73 billion in the prior-year quarter. ONEOK, Inc. Price, Consensus and EPS Surprise Highlights ...

ONEOK Inc. (OKE) is scheduled to release second-quarter 2024 results on Aug 5, after market close. The company delivered a negative earnings surprise of 3.5% in the last reported quarter. Let's discuss the factors that are likely to be reflected in the upcoming quarterly results. Factors to Consider ONEOK's second-quarter earnings are expected to have gained from strong fee-based contracts, as more than 90% of its revenues are likely to have been fee-based. During the second quarter, the company completed t ...