ONEOK (OKE) Q3 Results - Nov 3

[dan_s]

Stifel's take

ONEOK , Inc. (OKE, $64.07, Buy; Target $66.00) - OKE: 3Q21 Initial Take – Modest
Beat - Selman Akyol - ONEOK, Inc. (OKE, $64.07, Buy) reported 3Q21 Adjusted
EBITDA of $865 million compared to our estimate of $830 million and consensus
of $831 million. The beat was driven by outperformance in the Natural Gas Liquids
segment. We note OKE did not report distributable cash flow (DCF) in conjunction
with 3Q21 results. Previously, OKE declared a dividend per share (DPS) of $0.935,
flat with the prior quarter.