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Oneok misses 4Q profit forecasts

TULSA, Okla. (AP) _ Oneok Inc. (OKE) on Monday reported fourth-quarter profit of $90.5 million.

On a per-share basis, the Tulsa, Oklahoma-based company said it had net income of 43 cents.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The natural gas company posted revenue of $2.65 billion in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $2.51 billion.

For the year, the company reported profit of $352 million, or $1.66 per share. Revenue was reported as $8.92 billion.

Oneok shares have dropped 7 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 6 percent. In the final minutes of trading on Monday, shares hit $53.35, more than doubling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OKE at https://www.zacks.com/ap/OKE


Keywords: Oneok Inc., Earnings Report