Oneok Inc Stock Price, News & Analysis

ONEOK (NYSE: OKE) reported strong Q2 2024 results, with net income of $780 million ($1.33 per diluted share) and adjusted EBITDA of $1.6 billion. Key highlights include:

- 12% increase in Rocky Mountain region NGL raw feed throughput volumes
- 19% increase in Natural Gas Liquids segment adjusted EBITDA
- 14% increase in Natural Gas Pipelines segment adjusted EBITDA
- Completed acquisition of NGL pipelines from Easton Energy for $280 million
- Announced refined products pipeline expansion to Denver area
- Declared quarterly dividend of $0.99 per share

ONEOK affirmed its full-year 2024 financial guidance, citing favorable market fundamentals and strong operational performance. The company's focus remains on safe, reliable, and environmentally responsible operations while providing essential energy services.

ONEOK (NYSE: OKE) has released its annual Corporate Sustainability Report, showcasing significant progress in environmental, social, and governance (ESG) performance. Key highlights include:

- Achieved approximately 50% of its 2030 greenhouse gas emissions reduction target by year-end 2023
- Reduced Scope 1 methane emissions by 36% from 2019 baseline
- Invested in innovative energy solutions and participated in hydrogen and carbon storage studies
- Received an MSCI ESG Rating of AAA in 2024
- Qualified for inclusion in over 40 ESG-related stock market indices
- Recognized as one of America's Greatest Workplaces for 2024 by Newsweek
- Contributed $9.6 million to charitable organizations in 2023

ONEOK, a leading midstream energy service provider, operates a 50,000-mile pipeline network, delivering vital energy products and services across North America.

ONEOK (NYSE: OKE) has announced plans to expand its pipeline capacity connecting Mid-Continent and Gulf Coast refined products supply with the greater Denver area. The project includes:

• Construction of a new 230-mile, 16-inch diameter pipeline from Scott City, Kansas, to Denver International Airport (DIA)
• Addition or upgrading of pump stations along the existing refined products pipeline system
• Increase in total system capacity by 35,000 barrels per day
• Estimated cost of $480 million
• Expected completion in mid-2026

The project is fully subscribed under long-term contracts and aims to meet growing demand for refined products and renewable fuels in the Denver area, including aviation and sustainable aviation fuel for DIA's expansion.

ONEOK (NYSE: OKE), a leading midstream operator, has declared a quarterly dividend of 99 cents per share, unchanged from the previous quarter. This results in an annualized dividend of $3.96 per share. The dividend is payable on Aug. 14, 2024, to shareholders of record at the close of business on Aug. 1, 2024.

ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma, with a 50,000-mile pipeline network. The company provides gathering, processing, fractionation, transportation, and storage services for natural gas, natural gas liquids (NGLs), refined products, and crude oil across North America.

ONEOK (NYSE: OKE), a leading midstream operator, will release its second quarter 2024 earnings on August 5, 2024, after market close.

The company will hold a conference call and webcast to discuss the earnings at 11 a.m. Eastern on August 6, 2024.

Participants can join via phone or online, with replays available on ONEOK's website for a year.

ONEOK operates a 50,000-mile pipeline network transporting natural gas, NGLs, refined products, and crude, supporting domestic and international energy demands.

Headquartered in Tulsa, Oklahoma, ONEOK is part of the S&P 500.

ONEOK, Inc. (NYSE: OKE) announced that the 2023 Schedule K-3s for Magellan Midstream Partners, L.P. are now available online. Former Magellan unitholders can access these documents at www.taxpackagesupport.com/mmp. These documents are important for certain investors, particularly foreign unitholders and those computing foreign tax credits. On September 25, 2023, ONEOK acquired all outstanding common units of Magellan in a cash and stock transaction, making Magellan units no longer publicly traded. ONEOK is a leading midstream operator delivering essential energy products and services, operating a 50,000-mile pipeline network that supports both domestic and international energy demands. For more information, visit www.oneok.com.

ONEOK (NYSE: OKE) announced its participation in the J.P. Morgan Energy, Power and Renewables Conference, scheduled for June 18, 2024, in New York. The company, a leading midstream operator, will engage in investor meetings to discuss their extensive pipeline network, which spans over 50,000 miles and includes natural gas, NGLs, refined products, and crude transportation. As a major player in North America's energy infrastructure, ONEOK emphasizes its role in energy security and reliability. The company, headquartered in Tulsa, Oklahoma, is part of the S&P 500. Investors can access the latest materials on the ONEOK website.

ONEOK has completed its acquisition of a natural gas liquids (NGL) pipeline system from Easton Energy for $280 million. This strategic move is expected to provide immediate earnings and expand ONEOK's NGL asset portfolio. The acquisition includes 450 miles of pipelines in the Gulf Coast, enhancing connectivity between supply and demand centers. The assets will be integrated with ONEOK's existing infrastructure in Mont Belvieu and Houston. CEO Pierce H. Norton II emphasized the commercial synergies from this acquisition, following their recent purchase of Magellan assets.

ONEOK (NYSE: OKE) will participate in investor meetings at the Bernstein Strategic Decisions Conference on May 29-30, 2024, in New York.

ONEOK is a leading midstream operator in North America with a 50,000-mile pipeline network transporting natural gas, NGLs, refined products, and crude. The company aims to meet energy demands and provide reliable energy solutions.

ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma. For more information, visit www.oneok.com.