Investment activities dominate the news regarding
ONEOK (OKE), a leading midstream service provider in the natural gas and NGL space. While the company maintains a strong financial position, highlighted by a
steady quarterly dividend of $0.99 per share, there are concerns over a high multiple and low dividend. Acquisition of multiple shares by organizations such as
Banco Santander and
Mitsubishi UFJ Asset Management signals confidence in the company's potential. Despite this, the shares have been trading down, attracting mixed reactions from investors. ONEOK's ambitions to expand their pipeline network in the greater
Denver area present potential for higher profit margins. The company's earnings and revenues have fallen short of estimates, but it saw an apparent increase amidst a tumbling market. It also purchased Easton's NGL Pipeline System for $280M. ONEOK is a favourite among institutional investors who own 70% of the company, and its stock hit a new 1-year high at $86.13. Nevertheless, some believe ONEOK's intrinsic value could be 21% below its current shares. Further financial stability seems likely as their dividend hiked, providing a stable yield in the energy sector.
Oneok OKE News Analytics from Wed, 01 Nov 2023 07:00:00 GMT to Sun, 21 Jul 2024 15:44:25 GMT -
Rating 4
- Innovation -2
- Information 8
- Rumor -6
