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Barclays raised its price target on ONEOK from $94 to $99, maintaining an "equal weight" rating, while Bank of America initiated coverage with a "buy" rating and a $105 target. Scotiabank also increased its target to $102 with a "sector outperform" rating. Currently, ONEOK holds a consensus rating of "Moderate Buy" with a target of $100.38, as analysts express mixed sentiments, with seven holding and ten issuing buy ratings. The company reported a quarterly EPS of $1.18, missing estimates, and announced a dividend of $0.99, yielding 3.48%.
Oneok Inc. will acquire the remaining common units of EnLink Midstream LLC for $4.3 billion in stock. The transaction will convert EnLink shares into 0.1412 shares of Oneok common stock, with approximately 37 million shares issued. Completion is anticipated in the first quarter of 2025.
Oneok Inc. is set to acquire the remaining shares of EnLink Midstream LLC for $4.3 billion in common stock, as announced in a joint statement. This acquisition is part of a broader trend in the US oil and gas sector, where private equity firms are divesting assets to corporate buyers. The deal will enhance Oneok's footprint in the Permian Basin.
DT Midstream Inc. has agreed to acquire three natural gas transmission pipelines from Oneok Inc. for $1.2 billion. The deal includes full operating ownership of the Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission, which collectively have a capacity exceeding 3.7 billion cubic feet per day and span 1,300 miles across seven Midwest states.
Oneok, Inc., a leading American natural gas distributor, has received a buy rating from UBS. The company's sales are primarily derived from liquefied natural gas production, processing, and distribution (71.5%), followed by natural gas production and processing (20.1%). As of the end of 2023, Oneok operates a network of 10,621.7 km of gas pipelines and six underground storage facilities with a capacity of 1.6 bcm of natural gas.
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