ONEOK, Inc. (OKE)

[eFinanceMarkets]

$OKE ONEOK (NYSE:OKE) +1.8% after-hours as it forecasts FY 2018 net income of $955M-$1.155B and adjusted EBITDA of $2.215B-$2.415B, nearly 20% higher than previously announced 2017 guidance, driven primarily by anticipated natural gas and natural gas liquids volume increases in the STACK and SCOOP areas and Williston and Permian basins.

OKE also says it continues to expect average annual dividend growth of 9%-11% through 2021 with annual dividend coverage greater than 1.2x; it expects 85%-95% of 2018 dividend payments to be a return of capital.

OKE sees FY 2018 adjusted EBITDA in its natural gas liquids segment of $1.3B-$1.43B, ~15% above 2017 guidance, with gathered NGLs of 850K-1M bbl/day and NGLs fractionated of 650K-725K bbl/day, up a respective 10% and 15% vs. 2017 guidance.