ONEOK Inc: Increased Demand For NGL & 5 Factors Driving Its Performance In 2024 & Beyond! 

ONEOK has shown robust fiscal growth for the Q4 2023 and annually. The firm reported net income of $2.7 billion annually and $688 million for the last quarter of 2023. It conceded double[1]digit growth in natural gas processing volume. Furthermore, the fourth-quarter adjusted EBIDTA was over $1.5 billion, and the full-year EBIDTA was more than $5.2 billion. Given ONEOK’s substantial growth in recent years, with continuous 10 years of EBIDTA year-after[1]year growth, minimal levels of capital expenditure are expected after certain projects like the MB-6 fractionator and expansions of West Texas NGL and Elk Creek NGL pipelines are completed in early 2025. Notably, a comparison of the company’s history gives a positive outlook as volumes from the Rocky Mountain region have grown at a higher rate with increased dividends and natural gas processing capacity.