ONEOK recently announced robust fourth-quarter results with significant revenue and net income growth. However, the company's share price moved down 6.5% last month amid a turbulent market environment. Despite reporting strong financial figures, including a large revenue increase to $7 billion and a noteworthy net income rise, broader market pressures may have played a role. The S&P 500 and Nasdaq posted their third consecutive weekly declines amid concerns over potential economic slowdown and volatility following Federal Reserve Chair Powell's comments on economic health. This backdrop, along with investor apprehension surrounding the broader market trends—like the S&P 500's worst performance since September—could have overshadowed ONEOK's full-year earnings growth and share repurchase update. The overall market's recent 3.4% decline likely amplified the impact on ONEOK's stock, as investor sentiment remained cautious.

Navigate through the intricacies of ONEOK with our comprehensive report here.

ONEOK (NYSE:OKE) achieved a very large total return of 312.63% over the past five years, an impressive performance driven by pivotal developments. A significant factor was the company's robust growth in profits, with earnings expanding annually by 26.7%. This strong performance outpaced the broader oil and gas industry, showcasing a solid operational foundation. Additionally, over the past year, ONEOK's returns have exceeded both the US market and the oil and gas industry, highlighting its competitive edge in a challenging environment.

Key corporate moves have also supported this growth. The recent increase in the quarterly dividend to US$1.03 per share and the ongoing share buyback program reflect management's commitment to returning value to shareholders. Strategic projects like the completion of new infrastructure, including the MB-6 fractionator, have enhanced capacity and operational efficiency, contributing to long-term success. Moreover, ONEOK's collaboration with MPLX LP on infrastructure projects underscores its proactive approach to expansion. These initiatives have collectively bolstered investor confidence, sustaining growth over the longer term.

• Analyze ONEOK's fair value against its market price in our detailed valuation report—access it here.
• Uncover the uncertainties that could impact ONEOK's future growth—read our risk evaluation here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include NYSE:OKE.

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