ONEOK (OKE) Stock

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.

ONEOK, Inc. and EnLink Midstream, LLC have announced a merger agreement where ONEOK will buy all publicly held common units of EnLink. Each EnLink unit will be exchanged for 0.1412 shares of ONEOK stock, totaling a value of $4.3 billion. This deal was made public on November 24, 2024.

OKE plans to sell its three natural gas pipeline systems that cross state lines. This move will help the company better focus its investments and improve its overall operations.

On Tuesday, pipeline operator DT Midstream announced that it plans to buy a set of three natural gas transmission pipelines from ONEOK for $1.2 billion in cash.

A wildfire in North Dakota has destroyed around 126,000 acres of land, affecting local cattle producers. In response, the ONEOK Foundation has given $100,000 to support the North Dakota Stockmen's Association and their wildfire relief program.

ONEOK, Inc. (NYSE:OKE) will hold its Q3 2024 Earnings Conference Call on October 30, 2024, at 11:00 AM ET. Key company figures participating include Andrew Ziola, Pierce Norton, Walter Hulse, and Sheridan Swords. Various analysts from firms like Barclays, Bank of America, and Wells Fargo Securities will also join the call, which will be in listen-only mode for attendees.