EnLink unitholders approve Oneok acquisition of remaining public units
Written by Emily J. Thompson, Senior Investment Analyst
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.
Analyst Views on OKE
Wall Street analysts forecast OKE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OKE is 86.38 USD with a low forecast of 75.00 USD and a high forecast of 110.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
8 Buy
5 Hold
0 Sell
Moderate Buy
Current: 73.350
Low
75.00
Averages
86.38
High
110.00
Current: 73.350
Low
75.00
Averages
86.38
High
110.00
About OKE
ONEOK, Inc. is a midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. The Company's 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, the Permian Basin region and the North Texas region. The Natural Gas Liquids segment owns and operates facilities that gather, fractionate, treat and distribute natural gas liquids (NGLs) and store Purity NGLs, primarily in the Rocky Mountain region, Mid-Continent region, Permian Basin and Gulf Coast region (including Louisiana). 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.
