logo
Share SHARE
FONT-SIZE Plus   Neg

ONEOK, ONEOK Partners Lift 2011 Earnings Forecast

ONEOK, Inc. (OKE: Quote) announced that it has increased its 2011 net income midpoint and expects it to be within the upper end of the net income range provided on Nov. 1, 2011.

The company expects its 2011 net income to be in a range of $355 million to $365 million, within the earnings guidance range of $345 million to $365 million provided on Nov. 1, 2011. The updated guidance increases the net income midpoint to $360 million from $355 million and reflects higher anticipated earnings in the ONEOK Partners segment.

Also, ONEOK Partners, L.P. (OKS) announced that its 2011 net income is expected to be higher than the ranges provided on Nov. 1, 2011.

The company expects its net income range $820 million to $840 million, exceeding the previous range of $740 million to $770 million. The updated guidance increases the net income midpoint to $830 million from $755 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Burger chain Shake Shack Inc. said late Thursday that it has priced its initial public offering of 5 million Class A shares at $21 per share, which is above the previously estimated price range of $17 to $19 per share. The shares are expected to begin trading on the New York Stock Exchange on Friday, January 30 under the ticker symbol "SHAK." Google reported a higher fourth-quarter profit, driven by a 15 percent increase in revenues and one-time gains from the sale of Motorola Mobile business, somewhat offset by stock-based compensation expense and foreign exchange losses. Quarterly earnings and revenue missed Wall Street estimates, as ad revenues came under pressure. Online retailer Amazon.com, Inc. said Thursday after the markets closed that its fourth quarter fell 10.5% from last year, as higher expenses more than offset a 15% increase in sales. However, the company's quarterly earnings per share came in well above analysts' expectation, but its quarterly sales fell short of analysts' forecast.
comments powered by Disqus
RELATED NEWS
Trade OKE now with 
Follow RTT