ONEOK Inc., a titan in the energy industry, has had its shares traded in a whirlwind of activity. The company has had a stronger than average decline but always seems to bounce back, outperforming market returns. With a firm strategic footing, ONEOK has expanded its presence and equity holdings through major acquisitions including a $5.9B deal with
GIP for
Permian assets and the purchase of
Easton's NGL Pipeline System for $280M. It also acquired
EnLink Midstream for $3.3B and announced an impressive $7.0B notes offering aimed at funding more acquisitions and expansion moves. Despite these moves, the stock has seen multiple drops, some of which were steeper than the broader market's own falls. However, this has not deterred well-established investment firms from either reaffirming their stakes or getting a new position in ONEOK. The stock has caught the attention of esteemed analysts like Jim Cramer, who praised ONEOK for being a terrific pipeline play. On the financial front, earnings have grown, beating estimates, indicating overall strong performance. However, with its strong stance, the question remains if ONEOK is overvalued. Lastly, ONEOK's shares have a significant hold by institutional investors, who currently own 70% of the company.
Oneok OKE News Analytics from Mon, 15 Apr 2024 07:00:00 GMT to Sat, 26 Oct 2024 17:07:42 GMT -
Rating 7
- Innovation 9
- Information 7
- Rumor -4
