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ONEOK, ONEOK Partners Lift 2011 Earnings Forecast

ONEOK, Inc. (OKE) 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 RTTNews Staff Writer

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