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OneOK's Net Income Drops

Chuck Marvin

Natural gas transportation and trading firm OneOK (OKE Quote) reported quarterly earnings of $68.2 million, or 65 cents per diluted share, compared to $102.9 million, or 98 cents per diluted share, during the same period last year.

OneOK's quarterly operating income was $218.7 million compared with $255.7 million last year. The decline reflected "a decrease in storage, marketing and transportation margins in the energy services segment," the company said in a press release.

Analysts surveyed by Thomson Reuters had expected 67 cents a share.

Shares of OneOK were recently moving 5% lower at $23.11 per share in after-hours trading.