secwatch.observer — SEC 8-K summary
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Issuer:     ONEOK INC /NEW/ (OKE)
CIK:        0001039684
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001039684-23-000034
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ONEOK Q1 net income rises to $1.05B on insurance settlement; underlying volumes up; affirms 2023 guidance
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- Net income $1.049B ($2.34 diluted EPS) vs $391M ($0.87) YoY; includes $733M pre-tax insurance settlement gain.
- Adjusted EBITDA $1.717B (settlement-included); ex-settlement implied ~$984M vs $864M YoY.
- Natural gas gathering & processing segment EBITDA up 32% to $283M; NGL segment up 143% to $1.281B (largely settlement).
- Completed Demicks Lake III plant (200 MMcf/d) and MB-5 fractionator (125,000 bpd); Moody's upgraded rating to Baa2.
- Quarterly dividend maintained at $0.955/share ($3.82 annualized); redeeming $500M 7.5% notes due Sept 2023 with cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1039684/000103968423000034/0001039684-23-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1039684/000103968423000034/oke-20230502.htm
  HTML page:      https://secwatch.observer/filing/0001039684-23-000034

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