Oneok (OKE) reported impressive first-quarter results, showcasing a 12% increase in net income to $776 million, or $1.23 per share, alongside a 13% rise in adjusted EBITDA to $2 billion. The energy midstream company benefitted from robust volume growth across its operations, with notable increases in NGL raw feed, refined products, and natural gas processed. This performance comes amid favorable market conditions influenced by supply disruptions in the Middle East, allowing Oneok to raise its full-year financial outlook.

The company now anticipates adjusted EBITDA between $8 billion and $8.5 billion for 2026, up from previous guidance, while also increasing its net income forecast. Oneok is investing heavily in growth projects, with a capital expenditure plan of $2.7 billion to $3.2 billion, which includes key infrastructure developments aimed at supporting rising LNG demand and power needs.

For market professionals, Oneok’s strong earnings and growth trajectory, coupled with a commitment to increasing dividends, position it as a compelling investment opportunity in the energy sector.

Source: fool.com