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An update from Oneok ( (OKE) ) is now available.
On January 30, 2025, ONEOK, Inc. announced the approval by EnLink Midstream’s unitholders for its acquisition of the remaining publicly held common units of EnLink. The acquisition, which saw approximately 99.8% of the common units voting in favor, is expected to close on January 31, 2025, with EnLink’s units ceasing to trade on the NYSE. This strategic move consolidates ONEOK’s position in the midstream energy sector, enhancing its operational capacity and potentially realizing synergies, though it carries integration and market risks as highlighted in the forward-looking statements.
More about Oneok
ONEOK, Inc. is a leading midstream operator providing gathering, processing, fractionation, transportation, and storage services for natural gas, natural gas liquids, refined products, and crude oil. With a significant pipeline network spanning over 50,000 miles, ONEOK plays a crucial role in meeting both domestic and international energy demands, contributing to energy security, and offering reliable energy solutions. The company is one of North America’s largest diversified energy infrastructure firms, headquartered in Tulsa, Oklahoma, and is part of the S&P 500. EnLink Midstream, headquartered in Dallas, offers integrated midstream infrastructure services for natural gas, crude oil, NGLs, and CO2 transportation related to carbon capture and sequestration, with a focus on premier production basins.
YTD Price Performance: -1.37%
Average Trading Volume: 3,246,127
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $58.78B
For an in-depth examination of OKE stock, go to TipRanks’ Stock Analysis page.
