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Home > Fortune 500 Companies > Oneok Inc
Oneok Inc
Oneok, Inc. is a publicly traded company having a good stock performance result. Oneok, Inc. is a fortune 500 stock listed company trading under OKE. The company was originally incorporated in 1906 as an intrastate natural gas pipeline business in Oklahoma.
The company is among the largest natural gas distributors in the United States, serving more than 2 million customers in Oklahoma, Kansas and Texas. Oneok is a leader in the gathering, processing, storage and transportation of natural gas in the mid-continent region of the U.S. and owns one of the nation's premier natural gas liquids systems, connecting much of the natural gas liquids supply in the mid-continent with two key market centers.
Oneok is the majority general partner of Northern Border Partners L.P., one of the largest publicly-traded limited partnerships Oneok's energy services operation targets mainly on marketing natural gas and related services throughout the U.S.
The company is raising its 2006 guidance in its energy services segment to 183 million dollars from 170 million dollars, which will result in revised company guidance in the range of 2.30 dollars to 2.36 dollars per diluted share of common stock. Revised 2005 net income was 546.6 million dollars, or 5.06 dollars per diluted share, compared with 242.2 million dollars, or 2.30 dollars per diluted share of common stock in 2004. Revised 2005 income from continuing operations was 403.1 million dollars, or 3.73 dollars per diluted share, compared with 2004 income from continuing operations of 224.7 million dollars, or 2.13 dollars per diluted share.
Oneok and the partnership previously increased their 2006 earnings guidance in anticipation of the closing of these transactions. Oneok expects its 2006 net income per diluted share to be in the range of 2.30 dollars to 2.36 dollars. The partnership’s 2006 estimated net income is expected to range from 426 million dollars to 446 million dollars, or 4.43 dollars to 4.69 dollars per unit, and includes a one-time gain of 108 million dollars, or 1.44 dollars per unit, on the sale of the 20 percent interest in Northern Border Pipeline.
Oneok's business segments provide secure, dependable energy and services to their varied customers. By following a strategy that blends the performance and productivity of all of the segments, Oneok's balanced business mix enables it to deliver sustainable earnings growth for shareholders.
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