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 ...

Record Rocky Mountain Region Volumes Announces 2024 Financial Guidance TULSA, Okla., Feb. 26, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced higher fourth quarter and full-year 2023 results and 2024 financial guidance. Higher Fourth-quarter 2023 Results, Compared with Fourth Quarter 2022: Net income of $688 million, resulting in $1.18 per diluted share. Adjusted EBITDA of more than $1.5 billion. 20% increase in Rocky Mountain region NGL raw feed throughput volumes. 17% increase in Gulf Coast ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission file number 001-13643 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K Securities registered pursuant to Section 12(g) of the Act: None (Exact name of registrant as specified in its cha ...

Exhibit 99.1 Announces 2024 Financial Guidance TULSA, Okla. - Feb. 26, 2024 - ONEOK, Inc. (NYSE: OKE) today announced higher fourth quarter and full-year 2023 results and 2024 financial guidance. Higher Fourth-quarter 2023 Results, Compared with Fourth Quarter 2022: News February 26, 2024 Analyst Contact: Megan Patterson Media Contact: 918-561-5325 Brad Borror 918-588-7582 ONEOK Announces Higher Fourth Quarter and Full-year 2023 Earnings Record Rocky Mountain Region Volumes Higher Full-year 2023 Results, Co ...

In the latest trading session, Oneok Inc. (OKE) closed at $73.72, marking a +0.53% move from the previous day. The stock's change was less than the S&P 500's daily gain of 2.11%. Meanwhile, the Dow experienced a rise of 1.18%, and the technology-dominated Nasdaq saw an increase of 2.96%.Shares of the natural gas company have appreciated by 6.49% over the course of the past month, outperforming the Oils-Energy sector's gain of 6.4% and the S&P 500's gain of 3.08%.Investors will be eagerly watching for the pe ...