The Oil Market Crash Is Starting to Bite This High-Yielding Pipeline Stock
ONEOK (NYSE: OKE) expected 2020 to be a banner year. It initially thought that its earnings would soar 25%, fueled by several recently completed expansion projects.
While the company did get off to a solid start in the first quarter, plunging oil prices forced many of its customers to reduce their production and drilling activities, and far fewer volumes will flow through the pipeline company's systems this year. That will take a big bite out of its growth expectations.
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Source Fool.com
