Pipeline operator ONEOK to buy remaining shares of EnLink in $4.3 bln deal [CNBC]
DT Midstream, Inc. (DTM)
Company Research
Source: CNBC
its presence in the Permian Basin amid increased consolidation in the U.S. energy sector. In August, ONEOK acquired a 43% controlling interest in Enlink, which has a solid presence in the Permian basin, from Global Infrastructure Partners for about $3.3 billion in cash. ONEOK said it will offer 0.1412 shares of its common stock for each EnLink unit. The deal values Enlink at about $7.6 billion, while the stake purchase would be at a premium of about 5% to EnLink's Friday close, according to Reuters calculations based on EnLink's and ONEOK's last close. The U.S. pipeline and storage sector is seen as ripe for deals following increased consolidation among oil and gas producers, as well as hurdles in getting new energy infrastructure approved and built. Earlier in the month, another pipeline operator DT Midstream agreed to acquire three natural gas transmission pipelines from ONEOK for $1.2 billion in cash, to boost its presence in the Midwest market.
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DTM
News
- DT Midstream, Inc. (NYSE: DTM) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $74.00 to $94.00. They now have a "sell" rating on the stock.MarketBeat
- DT Midstream, Inc. (NYSE: DTM) was upgraded by analysts at Stifel Nicolaus from a "hold" rating to a "buy" rating. They now have a $106.00 price target on the stock, up previously from $89.00.MarketBeat
- DT Midstream Announces Closing of Offering of Senior Secured NotesGlobeNewswire
- This High-Yield Dividend Stock Continues Its Wheeling and Dealing With $5.5 Billion of Additional Deals [Yahoo! Finance]Yahoo! Finance
- ONEOK's $4.3 Billion Power Play: Dominating the Permian Energy Game [Yahoo! Finance]Yahoo! Finance
DTM
Earnings
- 10/29/24 - Beat
DTM
Sec Filings
- 12/27/24 - Form 4
- 12/27/24 - Form 4
- 12/27/24 - Form 4
- DTM's page on the SEC website