ONEOK Inc has entered into a string of strategic agreements to reinforce its position in the industry. ONEOK announced an agreement to acquire all remaining publicly-held shares of EnLink Midstream in a tax-free transaction worth $4.3 billion, furthering their control. Their shares have experienced an uptrend, marked by a 17.1% increase since their last earnings report. The firm's stock outperformed its competitors on a strong trading day. However, there was a downtrend where it fell by 3.49% on Nov 25. ONEOK also dealt with DT Midstream involving the sale of three natural gas pipelines for $1.2 billion. Despite investor concerns over the EnLink Midstream acquisition, ONEOK reported higher Q3 2024 earnings, increased 2024 financial guidance and higher dividend. Concurrently, it closed the acquisition of Medallion Midstream and is trying to consolidate its position through buys and stakes in EnLink, Medallion and more. Though revenue missed the mark by 19%, the valuation shows an undervaluation of 39%, creating potential opportunity for further growth and investment.
Oneok OKE News Analytics from Tue, 18 Jun 2024 07:00:00 GMT to Sat, 30 Nov 2024 10:36:02 GMT -
Rating 5
- Innovation 6
- Information 7
- Rumor -4
