Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend EnLink Unitholders Vote "FOR" Pending ONEOK Acquisition
Written by Emily J. Thompson, Senior Investment Analyst
Source: PRnewswire
Acquisition Announcement: ONEOK, Inc. and EnLink Midstream, LLC have received recommendations from leading proxy advisory firms to proceed with ONEOK's acquisition of EnLink's remaining publicly held common units, set for a vote at the Special Meeting on January 30, 2025.
Voting and Approval Process: The acquisition requires approval from a majority of outstanding EnLink common units, and is expected to close shortly after the Special Meeting, pending customary closing conditions.
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.
