This High-Yield Dividend Stock Continues Its Wheeling and Dealing With $5.5 Billion of Additional Deals [Yahoo! Finance]
DT Midstream, Inc. (DTM)
Company Research
Source: Yahoo! Finance
That wheeling and dealing has continued this month. The company recently unveiled two more deals to further enhance its scale and strengthen its financial profile. These transactions will also give it more fuel to grow its nearly 3.5%-yielding dividend. Are You Missing The Morning Scoop? Wake up with Breakfast news in your inbox every market day. Sign Up For Free » Oneok began its transformational shopping spree in May of last year, when it agreed to buy MLP Magellan Midstream Partners in an $18.8 billion cash-and-stock deal. The transaction significantly enhanced its scale and diversification, adding crude oil and refined products infrastructure to its midstream operations. The acquisition was also highly accretive, with Oneok expecting free cash flow per share accretion averaging more than 20% through 2027. The pipeline company followed that up with two more deals this August, agreeing to buy Medallion Midstream and a controlling interest in EnLink Midstream (NYSE: ENLC) from
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News
- ONEOK's $4.3 Billion Power Play: Dominating the Permian Energy Game [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