ONEOK (OKE) Stock

ONEOK is considered a great investment because of its steady EBITDA growth and business growth. The purchase of Magellan Midstream Partners in 2023 greatly increased ONEOK's pipeline network, improving its cash flow and future growth opportunities. Additionally, other midstream acquisitions like EnLink and Medallion are expected to positively impact EPS, EBITDA, and cash flow.

TULSA, Okla., Dec. 9, 2024 /PRNewswire/ -- This week, ONEOK, Inc. (NYSE: OKE) will take part in an investor conference and will also have a fireside chat at 11 a.m.

OKE has finished building the MB-6 NGL fractionator. This shows OKE's commitment to fulfilling its customers' requirements by enhancing its infrastructure.

ONEOK, Inc. has finished building the MB-6, a natural gas liquids (NGL) fractionator that can process 125,000 barrels per day, located in Mont Belvieu, Texas. Additionally, they have completed the full looping of the West Texas NGL Pipeline system. This announcement was made on December 4, 2024, in Tulsa, Oklahoma.

Consolidation is still going strong in the US midstream sector. ONEOK has recently bought Medallion Midstream and a 43% stake in EnLink Midstream. They plan to acquire the remaining 57% of EnLink through a tax-free exchange, which will create a company with better services and a higher value.

Oneok (OKE) shared its earnings report 30 days ago. What can we expect for the stock moving forward?

ONEOK's shares fell by 5% after they revealed a $4.3 billion all-stock deal to buy the remaining 57% of EnLink Midstream, which the market had expected. Even with recent increases in value, ONEOK is still considered a slight 'buy' because of the anticipated benefits and strong cash flows from their recent purchases. While ONEOK's valuation is average compared to its competitors, its low debt levels and commitment to dividends and buybacks make it an attractive option.

Oneok (OKE -4.72%) has been quite active in the last few years. The midstream company has completed multiple acquisitions that have greatly enhanced its size, variety, and potential for growth.

On Sunday, pipeline operator ONEOK announced that it plans to buy all the remaining publicly traded units of Enlink for $4.3 billion in ONEOK shares.