ONEOK (OKE) managed to surpass the Q3 earnings estimates while their revenue was seen as disappointing. As a result, International Assets Investment Management LLC has sold its shares in the company. Despite this, ONEOK showed optimism as they announced their Q1 2024 earnings, even increasing their financial guidance for 2024. Nonetheless, their Q1 earnings and revenues have fallen short of estimates, disappointing the market. Interestingly, OKE has been performing relatively better in comparison to its utilities and oils-energy peers, riding high on fee-based earnings, strategic investments, and their midstream assets. Furthermore, they have taken shareholder-friendly initiatives like dividend hikes and a share repurchase program. Moreover, the company recently completed the acquisition of Magellan Midstream Partners, predicted to enhance their position in the market. Yet, their Q1 earnings and revenue estimates were missed, which raised some concerns. At the same time, they continue to be a favorite among institutional investors, indicating a sense of trust in the company's long-term growth potential.
Oneok OKE News Analytics from Mon, 07 Aug 2023 07:00:00 GMT to Sun, 12 May 2024 12:25:19 GMT -
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