EnLink unitholders approve Oneok acquisition of remaining public units
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 30 2025
0mins
Should l Buy OKE?
Source: Business Insider
EnLink Midstream Acquisition: EnLink Midstream unitholders overwhelmingly approved Oneok's acquisition of the remaining publicly held common units, with 99.8% of votes in favor, leading to the transaction's expected closure on January 31.
Conversion of Units: Upon completion of the acquisition, each outstanding common unit of EnLink not owned by Oneok will be converted into 0.1412 shares of Oneok common stock, and trading of EnLink common units will cease on the New York Stock Exchange prior to market open on the same day.
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Analyst Views on OKE
Wall Street analysts forecast OKE stock price to rise
12 Analyst Rating
7 Buy
5 Hold
0 Sell
Moderate Buy
Current: 84.100
Low
75.00
Averages
86.00
High
110.00
Current: 84.100
Low
75.00
Averages
86.00
High
110.00
About OKE
ONEOK, Inc. is a midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Its segments include Natural Gas Gathering and Processing; Natural Gas Liquids; Natural Gas Pipelines, and Refined Products and Crude. The Natural Gas Gathering and Processing segment provides midstream services to producers in the Rocky Mountain region, the Mid-Continent region, and the Permian Basin region. The Natural Gas Liquids segment gathers, treats, fractionates and transports natural gas liquids (NGLs) and stores, markets and distributes Purity NGLs. It provides midstream services to producers of NGLs in the Rocky Mountain region, Mid-Continent region, Permian Basin and Gulf Coast region and delivers those products to the market. The Natural Gas Pipelines segment transports, stores and markets natural gas. The Refined Products and Crude segment gathers, transports, stores, distributes, blends and markets Refined Products and crude oil.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Oneok Growth Potential: Oneok operates more than 60,000 miles of pipelines with a market cap of $54 billion and a current stock price of $85.19; its adjusted EBITDA is projected to surge from $2.72 billion to $8.02 billion by 2025, with a forecasted 10% CAGR in earnings per share over the next three years.
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- Inventory Decline Response: This move comes as fuel inventories along the U.S. Gulf Coast have dwindled, aiming to meet export demand amid supply constraints exacerbated by the Middle East conflict.
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See More
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- Growth Potential of Oneok: Oneok (OKE) has increased over 20% this year, despite a nearly 10% decline over the past year; with 85%-90% of its earnings from fee-based sources, it ensures relatively stable cash flow and plans for a 3%-4% annual dividend increase, demonstrating long-term investment value.
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