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OKE

ONEOKC
NYSE / Energy
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2026-07-21
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2026-07-16
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Earnings documents stored for OKE.

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Investor releaseQuarter not tagged2026-07-16

Will Oneok (OKE) Beat Estimates Again in Its Next Earnings Report?

Zacks

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Oneok Inc. (OKE), which belongs to the Zacks Oil and Gas - Production Pipeline - MLB industry, could be a great candidate to consider. When looking at the last two reports, this natural gas company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 3.95%, on average, in the last two quarters. For the last reported quarter, Oneok came out with earnings of $1.3 per share versus the Zacks Consensus Estimate of $1.26 per share, representing a surprise of 3.17%. For the previous quarter, the company was expected to post earnings of $1.48 per share and it actually produced earnings of $1.55 per share, delivering a surprise of 4.73%. For Oneok, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank. Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Oneok has an Earnings ESP of +7.20% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on August 3, 2026. When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indic...

Investor releaseQuarter not tagged2026-07-15

ONEOK Declares Quarterly Dividend

GlobeNewswire

TULSA, Okla., July 15, 2026 (GLOBE NEWSWIRE) -- The board of directors of ONEOK, Inc. (NYSE: OKE) today declared a quarterly dividend of $1.07 per share, unchanged from the previous quarter, resulting in an annualized dividend of $4.28 per share. The dividend is payable Aug. 14, 2026, to shareholders of record at the close of business Aug. 3, 2026.--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world. ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma. For information about ONEOK, visit the website: www.oneok.com. For the latest news about ONEOK, find us on LinkedIn, Facebook, X and Instagram. Some of the statements contained and incorporated in this news release are forward-looking statements as defined under federal securities laws. The forward-looking statements relate to our anticipated financial performance (including projected levels of quarterly and annual dividends), liquidity, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under federal securities laws and other applicable laws. Forward-looking statements include the items identified in the preceding paragraph, the information concerning possible or assumed future results of our operations and other statements contained or incorporated in this news release identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "guidance," "intend," "may," "might," “outlook,” "plan," "potential," "proj...

Investor releaseQuarter not tagged2026-07-13

Earnings Preview: What to Expect From ONEOK's Report

Barchart

Tulsa, Oklahoma-based ONEOK, Inc. (OKE) operates as a midstream service provider of gathering, processing, fractionation, transportation, storage, and marine export services. With a market cap of $56.7 billion, the company is involved in the natural gas and natural gas liquids business across the U.S. The midstream giant is expected to announce its fiscal second-quarter earnings for 2026 after the market closes on Monday, Aug. 3. Ahead of the event, analysts expect OKE to report a profit of $1.41 per share on a diluted basis, up 5.2% from $1.34 per share in the year-ago quarter. The company beat or matched the consensus estimates in each of the last four quarters. Why Did the Commodity Complex Remind Me of the Bangles to Start the Week? Crude Oil Prices Surge as US Reinstates Blockade of Iran Despite Multiple, Positive Attributes, Fervo Energy Stock Looks Very Risky for Now Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. For the full year, analysts expect OKE to report EPS of $5.72, up 5.5% from $5.42 in fiscal 2025. Its EPS is expected to rise 5.9% year over year to $6.06 in fiscal 2027. OKE stock has underperformed the S&P 500 Index’s ($SPX) 20.6% gains over the past 52 weeks, with shares up 11.1% during this period. Similarly, it underperformed the State Street Energy Select Sector SPDR ETF’s (XLE) 24.2% gains over the same time frame. On Apr. 28, OKE shares closed up more than 2% after reporting its Q1 results. Its EPS came in at $1.23, up 18.3% year over year. The company’s adjusted EBITDA increased 12.5% from the year-ago quarter to $2 billion. OKE expects full-year EPS to be $5.53. Analysts’ consensus opinion on OKE stock is moderately bullish, with a “Moderate Buy” rating overall. Out of 22 analysts covering the stock, 10 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and 11 give a “Hold.” OKE’s average analyst price target is $95.55, indicating a potential upside of 6.3% from the current levels. On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com

Investor releaseQuarter not tagged2026-07-09

ONEOK Schedules Second-Quarter 2026 Conference Call and Webcast

GlobeNewswire

TULSA, Okla., July 09, 2026 (GLOBE NEWSWIRE) -- ONEOK, Inc. (NYSE: OKE) will release second-quarter 2026 earnings after the market closes on Aug. 3, 2026. Members of ONEOK’s management team will participate in a conference call the following day. What: ONEOK second-quarter 2026 earnings conference call and webcast When: Aug. 4, 2026, at 11 a.m. Eastern (10 a.m. Central) Where: 1) Conference call: Dial 800-330-6710 and use confirmation code: 3334626 2) Webcast: Join at www.oneok.com If you are unable to participate in the conference call or the webcast, a recording will be available at www.oneok.com for one year. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world. ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma. For information about ONEOK, visit the website: www.oneok.com. For the latest news about ONEOK, find us on LinkedIn, Facebook, X and Instagram. Contacts: Investor Relations: Megan [email protected] Media Relations: Charlsey [email protected]

Investor releaseQuarter not tagged2026-06-12

Will Stronger-Than-Expected Results and Spread Optimization Change ONEOK's (OKE) Risk-Reward Narrative?

Simply Wall St.

Earlier this week, ONEOK received upbeat analyst commentary following stronger-than-expected quarterly results, with firms highlighting the impact of spread optimization and improved financial performance. An interesting angle is that this improved operating performance comes even as analysts remain cautious about commodity price volatility and potentially tightening regional natural gas spreads, underscoring the balance between earnings momentum and market risk. Now, we’ll examine how this stronger-than-expected quarterly performance and spread optimization influence ONEOK’s existing investment narrative and risk profile. Uncover the next big thing with 24 elite penny stocks that balance risk and reward. To own ONEOK, you have to believe in a long-term need for its U.S. natural gas and NGL infrastructure, even as earnings remain sensitive to commodity price spreads and volumes. The recent earnings beat and analyst focus on spread optimization support the idea that asset integration and fee-based volumes can still drive results, but they do not remove the key near term risk that tighter spreads, balance sheet pressure and market volatility could constrain EBITDA and net income if conditions stay challenging. Among recent announcements, the April 2026 decision to raise full year net income guidance to a midpoint of US$3.45 billion stands out in light of the latest quarter. That higher earnings outlook, combined with positive commentary on spread optimization, reinforces the short term catalyst of better throughput and cross asset synergies, while still sitting against concerns about leverage from prior acquisitions and the possibility that narrowing regional natural gas spreads could limit how far this earnings momentum can reasonably extend. Yet behind the improved quarter and higher guidance, investors should be aware of the ongoing risk that compressed spreads and elevated debt could... Read the full narrative on ONEOK (it's free!) ONEOK's narrative projects $34.0 billion revenue and $4.2 billion earnings by 2028. This requires 6.7% yearly revenue growth and a $1.1 billion earnings increase from $3.1 billion today. Uncover how ONEOK's forecasts yield a $87.30 fair value, in line with its current price. Before this news, the most optimistic analysts were assuming revenue could climb toward about US$48.9 billion and earnings to roughly US$4.4 billion, but co...

Investor releaseQuarter not tagged2026-06-04

Energy Transfer LP (ET) Down 1.6% Since Last Earnings Report: Can It Rebound?

Zacks

A month has gone by since the last earnings report for Energy Transfer LP (ET). Shares have lost about 1.6% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Energy Transfer LP due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Energy Transfer LP before we dive into how investors and analysts have reacted as of late. Energy Transfer Q1 Earnings Lag Estimates, Revenues Increase Y/Y Energy Transfer reported first-quarter 2026 adjusted earnings of 35 cents per unit, which missed the Zacks Consensus Estimate of 38 cents by 7.9%. The bottom line also decreased 2.8% from the year-ago figure of 36 cents. Revenues of $27.77 billion lagged the Zacks Consensus Estimate of $29.29 billion by 5.2%. Total revenues rose 32.1% from the year-ago figure of $21.02 billion. Total costs and expenses were $24.79 billion, up 33.8% year over year. This increase was due to the higher cost of products sold, operating expenses, depreciation, depletion and amortization, as well as a rise in selling, general and administrative expenses.Operating income totaled $2.98 billion, up 19.8% year over year.Interest expenses, net of interest capitalized, amounted to $947 million, up 17.1% from the prior-year level.In the first quarter, the partnership placed its Gateway NGL Pipeline debottlenecking project into service, enabling higher deliveries of Delaware Basin volumes to Energy Transfer’s NGL fractionation complex at Mont Belvieu.In February 2026, Florida Gas Transmission (“FGT”), an Energy Transfer-operated joint venture, completed Open Seasons for two new projects backed by 15 to 25-year agreements with anchor shippers. The FGT Phase IX project includes about 90 miles of pipeline looping and compression facilities, with an expected capacity of 525 million cubic feet of gas per day (MMcf/d). Subject to conditions and a final investment decision, the South Florida project involves a roughly 40-mile pipeline extension with an expected capacity of 230 MMcf/d, along with compression and a new meter station. Energy Transfer has initiated construction of a new 3-million-barrel ethane storage cavern at its Mont Belvieu NGL fractionation complex. Expected to be in service in the second half of 2027, the project will...

Investor releaseQuarter not tagged2026-05-28

Oneok (OKE) Down 1.2% Since Last Earnings Report: Can It Rebound?

Zacks

A month has gone by since the last earnings report for Oneok Inc. (OKE). Shares have lost about 1.2% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Oneok due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for ONEOK, Inc. before we dive into how investors and analysts have reacted as of late. OKEOK Q1 Earnings Beat Estimates on Volume Growth, Guidance UpONEOK Inc. delivered a mixed quarter relative to expectations, with earnings coming in ahead of the Zacks Consensus Estimate while revenues fell slightly short. The company posted operating earnings of $1.30 per share for the first quarter of 2026, topping the Zacks Consensus Estimate of $1.26 by 3.2%. On a reported basis, first-quarter net income rose 12.3% year over year to $776 million, while diluted earnings per share increased 18.3% to $1.23 from $1.04 in the year-ago quarter. Revenues totaled $9.62 billion, missing the consensus mark of $9.68 billion by 0.6%. Total revenues were up 19.6% year over year from $8.04 billion. A key operating highlight was a 5% increase in total natural gas volumes processed to 5,490 million cubic feet per day, reflecting continued throughput resilience across the system. Management attributed the quarter’s improvement to volume growth and ongoing operational execution across its integrated asset footprint. Operational momentum was visible in NGL raw feed throughput, which increased 15.4% year over year to 1,493 thousand barrels per day (“MBbl/d”). The company highlighted particularly strong growth in the Gulf Coast/Permian region, reinforcing the value of its market-connected assets and integrated NGL value chain. Beyond optimization, the Pipeline segment also saw higher firm transportation revenues and improved earnings from unconsolidated affiliates, including Northern Border Pipeline.Capacity utilization metrics remained supportive, with transportation capacity contracted at 93%, underscoring the fee-based nature of this part of the business. Cost trends offered some relief. The company noted lower operating costs, including the absence of methane fees in 2026 due to regulatory changes, helping cushion the impact from pricing. Balance sheet positioning shifted modestly in the quarter. Cash and cas...

Investor releaseQuarter not tagged2026-05-09

Plains All American Q1 Earnings Miss Estimates, Revenues Increase Y/Y

Zacks

Plains All American Pipeline, L.P. PAA reported first-quarter 2026 adjusted earnings of 39 cents per unit, which missed the Zacks Consensus Estimate of 41 cents by 4.88%. In the year-ago quarter, earnings were in line with the company’s reported figure. The company reported GAAP earnings of 14 cents per unit compared with 49 cents in the year-ago period. Net sales of $12.47 billion missed the Zacks Consensus Estimate of $12.54 billion by 0.54%. However, the top line increased 8.65% from the year-ago quarter’s figure of $11.5 billion. Plains All American Pipeline, L.P. price-consensus-eps-surprise-chart | Plains All American Pipeline, L.P. Quote Total costs and expenses were $12.1 billion, up 8.49% year over year. The increase was primarily due to a rise in purchases and related costs. Operating income in the first quarter of 2026 was $405 million, up 13.76% from $356 million in the year-ago quarter. Net interest expenses totaled $167 million, up 31.5% from the prior-year quarter’s level. The Crude Oil segment’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $582 million, up 4% from the year-ago quarter’s figure. This increase was primarily driven by synergies from the recently completed Cactus III pipeline acquisition and bolt-on acquisitions. Adjusted EBITDA for the NGL segment was $145 million, down 23% from the prior-year period’s figure. This decrease was due to lower weighted average frac spreads and NGL sales volumes in the first quarter of 2026. As of March 31, 2026, cash and cash equivalents were $171 million compared with $328 million as of Dec. 31, 2025. As of March 31, 2026, long-term debt was $10.96 billion compared with $10.7 billion as of Dec. 31, 2025. As of March 31, 2026, long-term debt-to-total book capitalization was 53% compared with 52% as of Dec. 31, 2025. PAA’s net cash provided by operating activities in the first three months of 2026 was $418.0 million compared with $639.0 million in the year-ago period. For 2026, Plains All American expects adjusted EBITDA to be $2.88 billion. Adjusted free cash flow is anticipated to be $1.85 billion (excluding changes in assets and liabilities). PAA remains focused on disciplined capital investments, expecting full-year 2026 growth capital and maintenance capital of $350 million and $185 million, respectively. The company currently carries a Zacks Rank #3 (Ho...

Investor releaseQuarter not tagged2026-05-09

Oneok (OKE) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks

For the quarter ended March 2026, Oneok Inc. (OKE) reported revenue of $9.62 billion, up 19.6% over the same period last year. EPS came in at $1.30, compared to $1.04 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $9.69 billion, representing a surprise of -0.69%. The company delivered an EPS surprise of +3.18%, with the consensus EPS estimate being $1.26. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Oneok performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Raw feed throughput - Natural Gas Liquids: 1,493.00 MBBL/d versus the two-analyst average estimate of 1,544.50 MBBL/d. Adjusted EBITDA- Natural Gas Gathering and Processing: $467 million versus the two-analyst average estimate of $510.53 million. Adjusted EBITDA- Refined Products & Crude: $492 million versus the two-analyst average estimate of $523.05 million. Adjusted EBITDA- Natural Gas Pipelines: $339 million compared to the $238.23 million average estimate based on two analysts. Adjusted EBITDA- Natural Gas Liquids: $706 million compared to the $682.35 million average estimate based on two analysts. View all Key Company Metrics for Oneok here>>> Shares of Oneok have returned -0.4% over the past month versus the Zacks S&P 500 composite's +11% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ONEOK, Inc. (OKE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Investor releaseQuarter not tagged2026-05-02

ONEOK Q1 Earnings Call Highlights

MarketBeat

ONEOK raised its 2026 outlook after a strong Q1, reporting net income of $776 million (EPS $1.23) and increasing full-year guidance to a midpoint of roughly $3.5 billion net income, $5.53 EPS and $8.25 billion adjusted EBITDA while keeping 2026 capex at $2.7–3.2 billion. Several large projects are coming online to add capacity and connectivity, including the relocated 150 MMcf/d Shadowfax plant ramping in the Midland Basin, a 110 MMcf/d Delaware expansion in Q3 and the 300 MMcf/d Bighorn in mid‑2027, a 60 MMcf/d Cutter plant in Powder River by Q4 2026, a 35,000 bpd Denver pipeline mid‑year, and 100,000 bpd Medford fractionation in Q4. Commercial momentum and balance‑sheet moves support growth: volumes rose across regions (e.g., NGLs +11% Rocky Mountain, +4% Mid‑Continent, >30% Gulf Coast Permian), export demand and hedging activity have accelerated, and ONEOK redeemed nearly $500 million of notes and took a $1.2 billion term loan while saying major growth capex should be largely complete by mid‑2027, enabling rising free cash flow and faster debt reduction. Interested in ONEOK, Inc.? Here are five stocks we like better. 3 Companies to Watch as Natural Gas Stocks Make a Comeback ONEOK (NYSE:OKE) reported first-quarter 2026 results and raised its full-year financial guidance, citing stronger-than-expected performance across its integrated midstream systems and a more constructive market environment that emerged late in the quarter. Chief Financial Officer Walt Hulse said the company increased its 2026 outlook, with expected net income rising to a midpoint of approximately $3.5 billion and diluted earnings per share increasing to a midpoint of $5.53. ONEOK also lifted adjusted EBITDA guidance to a midpoint of $8.25 billion. → Meta Posted Its Best Sales Growth Since 2021—So Why Did Shares Fall? Build Stability and Income With 3 Overlooked Dividend Leaders Hulse attributed the update to “strong underlying business segment performance” and “increased opportunities across our system,” adding that higher volumes, completed projects, and market tailwinds should become more visible in results through the back half of 2026 and into 2027. Total 2026 capital expenditures were unchanged at $2.7 billion to $3.2 billion. In prepared remarks, CEO Pierce Norton said the company’s guidance increase “reflect[ed] strong performance and building momentum,” while reiterating ONEOK...

Investor releaseQuarter not tagged2026-05-01

This 4.7%-Yielding Energy Stock Reported Robust Earnings Growth and Sees More Growth Coming Down the Pipeline

Motley Fool

Oneok (NYSE: OKE) recently reported robust first-quarter financial results. The energy midstream company delivered double-digit earnings growth, fueled by strong volumes. That enabled it to raise its full-year outlook. Here's a closer look at the pipeline stock's first-quarter results and what it sees ahead. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Oneok reported $776 million, or $1.23 per share, of net income, a 12% increase from last year. Meanwhile, its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 13% to $2 billion. The midstream company benefited from higher volumes. NGL raw feed volumes jumped 13%, refined products volumes shipped increased 12%, and natural gas volumes processed rose 5%. The company capitalized on strong market conditions, driven by supply disruptions in the Middle East from the Strait of Hormuz closure. Oneok generated $934 million in cash during the period, easily covering the $673 million in dividends it paid. The pipeline company raised its dividend by 4% earlier this year and currently yields 4.7%. Oneok's strong start to 2026 and the expectation that market conditions will remain robust drove the company to increase its 2026 financial expectations. It now expects to generate between $8 billion and $8.5 billion of adjusted EBITDA this year, up from its prior guidance range of $7.9 billion to $8.3 billion. Oneok also raised its net income guidance range from $3.2 billion-$3.7 billion to $3.2 billion-$3.8 billion. Meanwhile, the pipeline company remains in a strong position to continue growing beyond 2026. It's investing $2.7 billion to $3.2 billion across several growth capital projects this year. Notable projects include rebuilding the Medford Fractionator (in-service by the first quarter of 2027), the Bighorn Processing Plant (mid-year 2027), the Texas City Logistics Export Terminal and related MBTC Pipeline (early 2028), and the Eiger Express Pipeline (Mid-2028). Oneok is also pursuing several natural gas pipeline expansion opportunities to support growing power demand (including data center projects) and rising liquefied natural gas (LNG) demand. Oneok's growth driver supports its outlook of increasing its divid...

Investor releaseQuarter not tagged2026-04-29

OKEOK Q1 Earnings Beat Estimates on Volume Growth, Guidance Up

Zacks

ONEOK, Inc. OKE delivered a mixed quarter relative to expectations, with earnings coming in ahead of the Zacks Consensus Estimate while revenues fell slightly short. The company posted operating earnings of $1.30 per share for the first quarter of 2026, topping the Zacks Consensus Estimate of $1.26 by 3.2%. On a reported basis, first-quarter net income rose 12.3% year over year to $776 million, while diluted earnings per share increased 18.3% to $1.23 from $1.04 in the year-ago quarter. Revenues totaled $9.62 billion, missing the consensus mark of $9.68 billion by 0.6%. Total revenues were up 19.6% year over year from $8.04 billion. ONEOK, Inc. price-consensus-eps-surprise-chart | ONEOK, Inc. Quote A key operating highlight was a 5% increase in total natural gas volumes processed to 5,490 million cubic feet per day, reflecting continued throughput resilience across the system. Management attributed the quarter’s improvement to volume growth and ongoing operational execution across its integrated asset footprint. Operational momentum was visible in NGL raw feed throughput, which increased 15.4% year over year to 1,493 thousand barrels per day (“MBbl/d”). The company highlighted particularly strong growth in the Gulf Coast/Permian region, reinforcing the value of its market-connected assets and integrated NGL value chain. Beyond optimization, the Pipeline segment also saw higher firm transportation revenues and improved earnings from unconsolidated affiliates, including Northern Border Pipeline. Capacity utilization metrics remained supportive, with transportation capacity contracted at 93%, underscoring the fee-based nature of this part of the business. Cost trends offered some relief. The company noted lower operating costs, including the absence of methane fees in 2026 due to regulatory changes, helping cushion the impact from pricing. Balance sheet positioning shifted modestly in the quarter. Cash and cash equivalents ended the period at $172 million, up from $78 million at the end of 2025, while short-term borrowings increased as the company funded investment needs and shareholder distributions. Cash flow reflected the capital intensity of the portfolio. Operating activities generated $934 million during the quarter, while capital expenditures totaled $864 million. Dividends paid were $674 million, and the funding mix included higher net short-term borrow...

As of 2026-07-18 • Updated weeklySource: Earnings sourceIngestion runbook