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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- 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
- 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