ONEOK falls after posting lower Q1 profit

Shares of U.S. pipeline operator ONEOK OKE.N fall ~7% to $81.82

Co on Tuesday reported a marginal fall in Q1 profit, hurt by higher operating costs and divestments

OKE posts Q1 net income of $636 million, or $1.04/shr, compared with $639 million, or $1.09/ share, a year earlier

Operating costs in Q1 jumped about 32% to $752 million from a year earlier

Co reaffirms forecast of current-year net income to be between $3.21 billion and $3.69 billion

"Despite weak Q1 results, management reaffirmed 2025 guidance indicating they expect a linear ramp in earnings throughout the remainder of the year," Tudor, Pickering, Holt & Co analysts wrote in a note

OKE shares are further pressured by declining crude prices O/R

Including session's move, co's shares down 19.7% YTD