Oneok Inc Stock Price, News & Analysis

ONEOK reported strong third quarter 2020 results, with net income of $312.3 million (70 cents per share) and a 15% increase in adjusted EBITDA to $747 million compared to Q3 2019. The company saw a 7% rise in natural gas liquids (NGL) throughput and a 16% decrease in operating costs. Additionally, its dividend coverage ratio stood at 1.30 times. The 2020 outlook has been updated, expecting net income and adjusted EBITDA to reach midpoint ranges of $500-$900 million and $2.6-$3 billion, respectively. Key growth was attributed to recovering volumes and completed NGL projects.

ONEOK, Inc. (NYSE: OKE) has declared a quarterly dividend of 93.5 cents per share, maintaining the rate from the previous quarter. This results in an annualized dividend of $3.74 per share. The dividend will be paid on Nov. 13, 2020, to shareholders on record by the close of business on Nov. 2, 2020.

ONEOK is recognized as a leading midstream service provider with a robust natural gas liquids system, enhancing its standing in the S&P 500 and FORTUNE 500 lists.

ONEOK, Inc. (NYSE: OKE) announced it will release its third quarter 2020 earnings on October 27, 2020, after market close. A conference call with executive management will occur on October 28, 2020, at 11 a.m. EDT for discussing the earnings results. Interested parties can join by calling 888-254-3590 (pass code 5700571) or via webcast on the company's website. A replay of the call will be available on the site for 30 days post-event, while a recording will be accessible by phone for seven days.

ONEOK, Inc. (NYSE: OKE) will participate in the Barclays CEO Energy-Power Virtual Conference on Sept. 8-9, 2020. As a leading midstream service provider, ONEOK owns a premier natural gas liquids system, facilitating connections between supply regions and market centers across the Rocky Mountain, Mid-Continent, and Permian areas. The company is a FORTUNE 500 entity and is listed in the S&P 500. Latest investor materials and volume data are accessible on www.oneok.com.

ONEOK, Inc. (NYSE: OKE) will participate in two virtual investor conferences: the Seaport Global Annual Summer Investor Conference on Aug. 26 and the BMO Capital Markets Real Assets Conference on Sept. 2. ONEOK is a leading midstream service provider with a robust natural gas liquids system in the U.S., connecting supplies across key regions. The company is a FORTUNE 500 entity and part of the S&P 500. Investor materials are accessible at www.oneok.com.

ONEOK, Inc. (NYSE: OKE), a leading midstream service provider, is set to participate in several virtual investor conferences in August 2020. These conferences include the Tuohy Brothers Annual Energy Conference on August 6, the Goldman Sachs Power, Utilities, MLPs and Pipelines Conference on August 11, and the Citi Midstream Energy Infrastructure Conference on August 12-13. ONEOK is recognized for its extensive natural gas liquids (NGL) systems across key regions, and its investor materials are available online.

ONEOK, Inc. (NYSE: OKE) reported a net income of $134.3 million, or 32 cents per diluted share, for Q2 2020, down from $312 million in Q2 2019. Its adjusted EBITDA was $533.9 million, reflecting production curtailments and lower commodity prices. The company holds over $945 million in cash. Due to ongoing market uncertainties, ONEOK expects its 2020 net income and adjusted EBITDA to be at the low end of earlier ranges. The dividend declared for Q3 is $0.935 per share, indicating continued shareholder returns amidst challenging conditions.

The board of directors of ONEOK declared a quarterly dividend of 93.5 cents per share, consistent with the previous quarter, marking an annualized dividend of $3.74 per share. This dividend is scheduled for payment on August 14, 2020, to shareholders of record as of August 3, 2020. ONEOK is a leading midstream service provider in the natural gas liquids sector and is included in the FORTUNE 500 and S&P 500.