Monday, September 24, 2012

What We're Gonna Be Talking About Tuesday -- ONEOK: Foreshadowing Earnings From the Oil Patch?

From Yahoo!In-Play:
  • ONEOK announces its 2013 net income is expected to increase 19% compared with its current 2012 earnings guidance that was updated on July 31, 2012
  • Co announces its 2013 net income is expected to increase 19% compared with its current 2012 earnings guidance that was updated on July 31, 2012. 
  • The 2013 guidance also includes a projected dividend increase of 3 cents per share semiannually in 2013. 2013 earnings guidance reflects increased operating income in the ONEOK Partners segment due to higher anticipated earnings from increased natural gas gathering and processing volumes and higher natural gas liquids (NGL) volumes gathered and fractionated resulting from the completion of several internal growth projects; and higher margins from increases in rates and surcharges in the natural gas distribution segment. 
  • ONEOK expects to increase its net income by 20 to 25 percent annually between 2012 and 2015, compared with 2012 earnings guidance, driven primarily by incremental earnings to ONEOK from the growth at ONEOK Partners. 
  • ONEOK also expects to increase its total dividend by approximately 65 to 70 percent between 2012 and 2015, which includes the planned 2013 dividend increases. 
  • ONEOK's 2013 earnings guidance also includes a projected 2-cent-per-unit-per-quarter increase in unitholder distributions declared from ONEOK Partners.

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