ONEOK Partners recently confirmed its higher 2008 earnings guidance despite Hurricane Ike impacting some facilities in the Gulf Coast region as commodity prices stay elevated. The partnership also increased its distribution for the 10th consecutive quarter.

ONEOK has surprised on earnings 4 consecutive quarters by an average of 24.16%. It has a forward P/E of 9.87.

Company Description

ONEOK Partners Limited (OKS) is one of the largest natural gas limited partnerships in the U.S. The partnerships owns the natural gas liquid (NGL) system that connects the natural gas and NGL supply in the Mid-Continent with key markets.

The general partner is a wholly owned subsidiary of ONEOK, Inc. (OKE), an energy company which owns 47.7% of the partnership.

Net Income Jumped 63% in the Second Quarter

On Aug 5, ONEOK Partners reported second quarter earnings that surprised on Wall Street estimates by 39.05%, or 41

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Williams Companies, Inc. (WMB) recently announced second-quarter adjusted earnings of 68 cents per share, eclipsing last year’s 43 cents and topping the consensus estimate by 3%. WMB’s earnings per share are expected to grow by 14% over the next 3 – 5 years, exceeding the industry average projection of 8%.

Company Description

Williams Companies, through its subsidiaries, finds, produces, gathers, processes and transports natural gas. The company’s operations are concentrated in the Pacific Northwest, Rocky Mountains, Gulf Coast, and Eastern Seaboard.

A Solid Second Quarter Reflects Strong Growth

The company recently posted second-quarter adjusted earnings of 68 cents per share, eclipsing last year’s 43 cents and topping the consensus estimate by 3%.

Williams noted that strong performances in the company's exploration & production and midstream businesses were the key drivers of the increase in the second-quarter and year-to-date results. The company cited higher net realized average natural gas prices and strong natural

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