ONEOK's $4.3 Billion Power Play: Dominating the Permian Energy Game [Yahoo! Finance]
DT Midstream, Inc. (DTM)
Company Research
Source: Yahoo! Finance
Midstream ( NYSE:ENLC ) in an all-stock deal worth $4.3 billion. For every EnLink unit they don't already own, shareholders will get 0.1412 shares of ONEOK stocka deal that represents a sweet 5% premium to EnLink's last closing price. The transaction, expected to wrap up in early 2025, will add about 37 million new ONEOK shares, increasing its total share count by 6%. Warning! GuruFocus has detected 11 Warning Signs with OKE. This isn't ONEOK's first rodeo with EnLink. Back in August, they shelled out $3.3 billion for a 43% stake in the company, strengthening their foothold in the Permian Basin. With this deal, ONEOK is doubling down on the region, aiming to supercharge its natural gas transport game. The company is betting big on growing demand for gas to fuel data centers, liquefied natural gas exports, and cutting-edge hydrogen and ammonia facilities. With a sprawling 50,000-mile pipeline network already in place, ONEOK is positioning itself as a heavyweight in the race to powe
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News
- This High-Yield Dividend Stock Continues Its Wheeling and Dealing With $5.5 Billion of Additional Deals [Yahoo! Finance]Yahoo! Finance
- Pipeline operator ONEOK to buy remaining shares of EnLink in $4.3 bln deal [CNBC]CNBC
- DT Midstream Announces Pricing of Offering of Senior Secured NotesGlobeNewswire
- DT Midstream, Inc. (NYSE: DTM) was upgraded by analysts at Citigroup Inc. from a "neutral" rating to a "buy" rating. They now have a $115.00 price target on the stock, up previously from $90.00.MarketBeat
- ONEOK to Sell Three Interstate Natural Gas Pipeline Systems for $1.2B [Yahoo! Finance]Yahoo! Finance
DTM
Earnings
- 10/29/24 - Beat
DTM
Sec Filings
- 11/27/24 - Form 8-K
- 11/22/24 - Form 8-K
- 11/21/24 - Form 8-K
- DTM's page on the SEC website