The influential institutional investors in ONEOK, Inc. (NYSE:OKE) witnessed a 6.4% loss last week but enjoyed long-term growth benefits. Despite this, Wells Fargo downgraded ONEOK (OKE), following which Franklin Resources Inc. reduced its position in ONEOK. A focus on high-dividend utility stocks has been suggested for reliable income, with ONEOK announcing higher earnings in Q3 2024 and increasing its 2024 financial guidance.
An agreement to sell its wholly-owned interstate natural gas pipelines to DT Midstream came into the spotlight alongside its stock's 17.1% growth since the last earnings report. ONEOK's plan to acquire Medallion and a controlling interest in EnLink for $5.9billion signaled expansion, and subsequently, a $7.0 billion notes offering beginning its recovery from the 2022 fire loss.
A spotlight on ONEOK's infrastructure leadership at a major energy conference, increased quarterly dividends, and strategic acquisitions emerged as big stories. Its expansion to the greater Denver area and acquisition of the Gulf Coast NGL system, alongside a record boost in volumes and strategic acquisitions, underlines ONEOK's strategic positioning and growth in the energy market.
Oneok OKE News Analytics from Wed, 17 Jan 2024 08:00:00 GMT to Fri, 20 Dec 2024 22:08:44 GMT - Rating 4 - Innovation 2 - Information 8 - Rumor 3
