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TULSA, Okla. (AP) — Diversified energy company Oneok Inc. and its natural gas partnership Oneok Partners LP on Monday both forecast strong growth in 2013.
Oneok Inc. said it expects net income to grow about 19 percent in 2103. The company expects $345 million to $375 million this year and $405 million to $455 million in 2013. It said the outlook reflects projects that will be placed into service later this year and from greater volumes for Oneok Partners.
Oneok Partners forecasts net income of $860 million to $910 million in 2012 and $935 million to $1.02 billion in 2013, suggesting growth of about 10 percent.
FactSet says analysts expect Oneok Inc. to earn $349.3 million in 2012 and $419.2 million in 2013. For Oneok Partners, Wall Street is projecting net income of $717.9 million in 2012 and $703.1 million in 2013.
Oneok Partners LP is a master limited partnership involved in gathering, processing, storing and transporting natural gas. Its general partner is a subsidiary of Oneok Inc.
Shares of Oneok Inc. gained 70 cents to $47.81 Monday, and the shares were unchanged in aftermarket trading following the release of the earnings guidance. Oneok Partners units rose 12 cents to $58.63 during the day and advanced $1.92, or 3.3 percent, to $60.55 in extended trading.