ONEOK, Inc., together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions. It also gathers, treats, fractionates, and transports natural gas liquids (NGL), as well as stores, markets, and distributes NGL products. The company owns NGL gathering and distribution pipelines in Oklahoma, Kansas, Texas, New Mexico, Montana, North Dakota, Wyoming, and Colorado; terminal and storage facilities in Kansas, Missouri, Nebraska, Iowa, and Illinois; and NGL distribution and refined petroleum products pipelines in Kansas, Missouri, Nebraska, Iowa, Illinois, and Indiana, as well as owns and operates truck- and rail-loading, and -unloading facilities connected to NGL fractionation, storage, and pipeline assets. In addition, it operates regulated interstate and intrastate natural gas transmission pipelines and natural gas storage facilities. Further, the company owns and operates a parking garage in downtown Tulsa, Oklahoma; and leases excess office space. It operates 18,900 miles of natural gas gathering pipelines; 1,500 miles of FERC-regulated interstate natural gas pipelines; 5,100 miles of state-regulated intrastate transmission pipeline; and 6 NGL storage facilities. It serves integrated and independent exploration and production companies; NGL and natural gas gathering and processing companies; crude oil and natural gas production companies; propane distributors; municipalities; ethanol producers; and petrochemical, refining, and NGL marketing companies, as well as natural gas distribution companies, electric generation facilities, industrial companies, producers, processors, and marketing companies. The company was founded in 1906 and is headquartered in Tulsa, Oklahoma.
IPO Year:
Exchange: NYSE
Website: oneok.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/17/2024 | $105.00 | Buy | BofA Securities |
| 9/16/2024 | $103.00 → $111.00 | Equal-Weight → Overweight | Morgan Stanley |
| 2/8/2024 | $76.00 | Neutral → Buy | Seaport Research Partners |
| 1/10/2024 | Underperform → Peer Perform | Wolfe Research | |
| 12/4/2023 | $72.00 → $83.00 | Neutral → Buy | BofA Securities |
| 11/2/2023 | $68.00 | Buy → Hold | Truist |
| 10/3/2023 | Underperform | Pickering Energy Partners | |
| 4/4/2023 | $71.00 → $72.00 | Neutral → Buy | Citigroup |
| 3/2/2023 | $74.00 | Sector Perform | Scotiabank |
| 1/10/2023 | $71.00 → $75.00 | Neutral → Overweight | JP Morgan |
In a release issued under the same headline earlier today by DT Midstream, Inc. (NYSE:DTM), please note that in the "Conference Call" paragraph of the release, the call time should be 9:30 a.m. ET (8:30 a.m. CT) on Wednesday, November 20, rather than 8:00 a.m. ET (7:00 a.m. CT) as previously stated. The corrected release follows: DT Midstream Announces $1.2 Billion Acquisition of Strategic Midwest FERC-Regulated Natural Gas Pipelines Three regulated natural gas transmission pipelines with total capacity of more than 3.7 Bcf/d across the Upper Midwest Premier assets with a high-quality demand-pull customer baseConnected to DTM's existing assets and strategically located to take advantage of
Assets to be Sold Include Guardian, Midwestern and Viking Gas Transmission TULSA, Okla., Nov. 19, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) ("ONEOK") today announced that it has executed a definitive agreement with DT Midstream, Inc. (NYSE:DTM) ("DT Midstream") under which ONEOK will sell its three wholly owned interstate natural gas pipeline systems for a total cash consideration of $1.2 billion subject to customary adjustments. Based on Federal Energy Regulatory Commission (FERC) filings, the purchase price represents 10.8 times previous 12 months EBITDA as of June 30, 2024. The transaction, unanimously approved by the boards of directors of both ONEOK and DT Midstream, is expected to c
Three regulated natural gas transmission pipelines with total capacity of more than 3.7 Bcf/d across the Upper Midwest Premier assets with a high-quality demand-pull customer baseConnected to DTM's existing assets and strategically located to take advantage of strong power demand fundamentals DETROIT, Nov. 19, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE:DTM) today announced that it has reached an agreement to acquire a portfolio of three FERC-regulated natural gas transmission pipelines from ONEOK, Inc. (NYSE:OKE) for $1.2 billion. The pipelines have a total capacity of more than 3.7 Bcf/d with approximately 1,300 miles across seven states in the attractive Midwest market region
TULSA, Okla., Nov. 12, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) will participate in the BofA Securities Global Energy Conference on Nov. 13, 2024, in Houston. Members of ONEOK's management team will participate in a fireside chat session at 2:20 p.m. Eastern Time (1:20 p.m. Central Time) on Wednesday, Nov. 13. The session will be webcast live on ONEOK's website at www.oneok.com. The webcast will also be available for replay. ONEOK's latest investor materials are available at www.oneok.com. At ONEOK (NYSE:OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and stor
Completes Acquisition of the Largest Privately Held Crude Oil Gathering and Transportation System in the Permian's Midland Basin TULSA, Okla., Oct. 31, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced the successful completion of its acquisition of Medallion Midstream (Medallion) from Global Infrastructure Partners, for a total cash consideration of approximately $2.6 billion. "With the acquisition of Medallion, the largest privately held crude gathering and transportation system in the Permian's Midland Basin, we continue our demonstrated track record of intentional and disciplined growth," said Pierce H. Norton II, ONEOK president and chief executive officer. "This acquisition
Increases Financial Guidance for the Second Time in 2024 TULSA, Okla., Oct. 29, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced higher third quarter 2024 results and provided 2024 financial guidance on a consolidated basis that includes contributions from EnLink Midstream (EnLink) and the pending Medallion Midstream (Medallion) acquisition. ONEOK also increased its 2024 financial guidance on a stand-alone basis to be comparable with the previous guidance provided on April 30, 2024. Third Quarter 2024 Results, Compared With Third Quarter 2023: Net income of $693 million, resulting in $1.18 per diluted share.Adjusted EBITDA of $1.55 billion.7% increase in Rocky Mountain region NGL
TULSA, Okla., Oct. 16, 2024 /PRNewswire/ -- The board of directors of ONEOK, Inc. (NYSE:OKE) today declared a quarterly dividend of 99 cents per share, unchanged from the previous quarter, resulting in an annualized dividend of $3.96 per share. The dividend is payable Nov. 14, 2024, to shareholders of record at the close of business Nov. 1, 2024. At ONEOK (NYSE:OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crud
Changes reflect new ONEOK controlling interest DALLAS, Oct. 15, 2024 /PRNewswire/ -- EnLink Midstream, LLC (NYSE:ENLC) (EnLink) today announced changes to the Board of Directors (Board) of EnLink Midstream Manager, LLC, the managing member of ENLC (EnLink Manager), following the October 15, 2024, closing of the transaction in which ONEOK, Inc. (NYSE:OKE) (ONEOK) acquired Global Infrastructure Partner's (GIP) entire 43% equity interest in ENLC and all of GIP's interest in EnLink Manager. As a result of acquiring EnLink Manager, ONEOK appointed three directors to the Board who
Announces Expiration of HSR Act Waiting Period Acquisition Expands and Extends Asset Positions in the Permian Basin, Mid-Continent, North Texas and Louisiana TULSA, Okla., Oct. 15, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") and the successful completion of its acquisition of Global Infrastructure Partners' (GIP) entire interest in EnLink Midstream, LLC (NYSE:ENLC) (EnLink), for a total cash consideration of approximately $3.3 billion. The acquisition consists of 43% of EnLink's outstanding common units for $14.90 per unit and 100% of the interests in the mana
TULSA, Okla., Sept. 26, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) will release third quarter 2024 earnings after the market closes on Oct. 29, 2024. Members of ONEOK's management team will participate in a conference call the following day. What: ONEOK third quarter 2024 earnings conference call and webcast When: 11 a.m. Eastern, Oct. 30, 2024 10 a.m. Central Where: 1) Phone conference call dial 877-883-0383, entry number 6520132 2) Log on to the webcast at www.oneok.com If you are unable to participate in the conference call or the webcast, the replay will be available on ONEOK's website, www.oneok.com, for one year. A recording will be available by p
Allen to Pursue Ministry Opportunity TULSA, Okla., May 22, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced that Stephen B. Allen, senior vice president, general counsel and assistant secretary will retire in mid-August 2023 after more than 17 years with the company. Allen is leaving ONEOK to join Dallas-based GuideStone, a leading faith-based financial services organization. Allen will continue as an employee through the middle of August as the company focuses on his replacement and will remain available to ONEOK and its management team in key aspects of the recently announced acquisition of Magellan Midstream Partners, L.P. "Stephen's important contributions will leave a lasti
TULSA, Okla., May 25, 2021 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) president and chief executive officer, Terry K. Spencer, announced today that he will retire on September 30, 2021, after 20 years with the company, including more than seven years as president and CEO. Pierce H. Norton II, currently president and chief executive officer of ONE Gas, Inc. (NYSE:OGS) will succeed Spencer as president and CEO of ONEOK on June 28, 2021, at which time he will also join the ONEOK Board. Spencer will remain in his current role until Norton rejoins ONEOK, at which time he will become an Advisor to Norton, allowing for a smooth leadership transition. Spencer will continue as a member of the ONEOK boa
4 - ONEOK INC /NEW/ (0001039684) (Issuer)
BofA Securities resumed coverage of ONEOK with a rating of Buy and set a new price target of $105.00
Morgan Stanley upgraded ONEOK from Equal-Weight to Overweight and set a new price target of $111.00 from $103.00 previously
Seaport Research Partners upgraded ONEOK from Neutral to Buy and set a new price target of $76.00
Wolfe Research upgraded ONEOK from Underperform to Peer Perform
BofA Securities upgraded ONEOK from Neutral to Buy and set a new price target of $83.00 from $72.00 previously
Truist downgraded ONEOK from Buy to Hold and set a new price target of $68.00
Pickering Energy Partners initiated coverage of ONEOK with a rating of Underperform
Citigroup upgraded ONEOK from Neutral to Buy and set a new price target of $72.00 from $71.00 previously
Scotiabank initiated coverage of ONEOK with a rating of Sector Perform and set a new price target of $74.00
JP Morgan upgraded ONEOK from Neutral to Overweight and set a new price target of $75.00 from $71.00 previously
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In a release issued under the same headline earlier today by DT Midstream, Inc. (NYSE:DTM), please note that in the "Conference Call" paragraph of the release, the call time should be 9:30 a.m. ET (8:30 a.m. CT) on Wednesday, November 20, rather than 8:00 a.m. ET (7:00 a.m. CT) as previously stated. The corrected release follows: DT Midstream Announces $1.2 Billion Acquisition of Strategic Midwest FERC-Regulated Natural Gas Pipelines Three regulated natural gas transmission pipelines with total capacity of more than 3.7 Bcf/d across the Upper Midwest Premier assets with a high-quality demand-pull customer baseConnected to DTM's existing assets and strategically located to take advantage of
Three regulated natural gas transmission pipelines with total capacity of more than 3.7 Bcf/d across the Upper Midwest Premier assets with a high-quality demand-pull customer baseConnected to DTM's existing assets and strategically located to take advantage of strong power demand fundamentals DETROIT, Nov. 19, 2024 (GLOBE NEWSWIRE) -- DT Midstream, Inc. (NYSE:DTM) today announced that it has reached an agreement to acquire a portfolio of three FERC-regulated natural gas transmission pipelines from ONEOK, Inc. (NYSE:OKE) for $1.2 billion. The pipelines have a total capacity of more than 3.7 Bcf/d with approximately 1,300 miles across seven states in the attractive Midwest market region
Increases Financial Guidance for the Second Time in 2024 TULSA, Okla., Oct. 29, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced higher third quarter 2024 results and provided 2024 financial guidance on a consolidated basis that includes contributions from EnLink Midstream (EnLink) and the pending Medallion Midstream (Medallion) acquisition. ONEOK also increased its 2024 financial guidance on a stand-alone basis to be comparable with the previous guidance provided on April 30, 2024. Third Quarter 2024 Results, Compared With Third Quarter 2023: Net income of $693 million, resulting in $1.18 per diluted share.Adjusted EBITDA of $1.55 billion.7% increase in Rocky Mountain region NGL
TULSA, Okla., Oct. 16, 2024 /PRNewswire/ -- The board of directors of ONEOK, Inc. (NYSE:OKE) today declared a quarterly dividend of 99 cents per share, unchanged from the previous quarter, resulting in an annualized dividend of $3.96 per share. The dividend is payable Nov. 14, 2024, to shareholders of record at the close of business Nov. 1, 2024. At ONEOK (NYSE:OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crud
TULSA, Okla., Sept. 26, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) will release third quarter 2024 earnings after the market closes on Oct. 29, 2024. Members of ONEOK's management team will participate in a conference call the following day. What: ONEOK third quarter 2024 earnings conference call and webcast When: 11 a.m. Eastern, Oct. 30, 2024 10 a.m. Central Where: 1) Phone conference call dial 877-883-0383, entry number 6520132 2) Log on to the webcast at www.oneok.com If you are unable to participate in the conference call or the webcast, the replay will be available on ONEOK's website, www.oneok.com, for one year. A recording will be available by p
Establishes fully integrated Permian Basin platform at scale Expands and extends footprint in Mid-Continent, North Texas and Louisiana Delivers immediate accretion to EPS and FCF supporting capital allocation strategy Provides significant synergies through complementary asset positions Maintains ONEOK's strong investment-grade credit ratings ONEOK intends to pursue a tax-free acquisition of the EnLink publicly held interests following the closing of this transaction TULSA, Okla., Aug. 28, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) ("ONEOK") today announced that it has executed a definitive agreement with Global Infrastructure Partners ("GIP") under which ONEOK will acquire GIP's entire in
Record Rocky Mountain Region Volumes TULSA, Okla., Aug. 5, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced higher second quarter 2024 results and affirmed full-year 2024 financial guidance. Second Quarter 2024 Results, Compared With Second Quarter 2023: Net income of $780 million, resulting in $1.33 per diluted share.Adjusted EBITDA of $1.6 billion.12% increase in Rocky Mountain region NGL raw feed throughput volumes.10% increase in Rocky Mountain region natural gas volumes processed.19% increase in Natural Gas Liquids segment adjusted EBITDA.14% increase in Natural Gas Pipelines segment adjusted EBITDA."Strong financial and operational performance during the second quarter, su
TULSA, Okla., July 17, 2024 /PRNewswire/ -- The board of directors of ONEOK, Inc. (NYSE:OKE) today declared a quarterly dividend of 99 cents per share, unchanged from the previous quarter, resulting in an annualized dividend of $3.96 per share. The dividend is payable Aug. 14, 2024, to shareholders of record at the close of business Aug. 1, 2024. At ONEOK (NYSE:OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crud
TULSA, Okla., July 8, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) will release second quarter 2024 earnings after the market closes on Aug. 5, 2024. ONEOK's executive management will participate in a conference call the following day. What: ONEOK second quarter 2024 earnings conference call and webcast When: 11 a.m. Eastern, Aug. 6, 2024 10 a.m. Central Where: 1) Phone conference call dial 877-883-0383, entry number 8109595 2) Log on to the webcast at www.oneok.com If you are unable to participate in the conference call or the webcast, the replay will be available on ONEOK's website, www.oneok.com, for one year. A recording will be available by phone for seven days. The playback c
Latest Acquisition Accelerates Commercial Synergies for ONEOK TULSA, Okla., June 17, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced that it has completed its acquisition of a system of natural gas liquids (NGL) pipelines from Easton Energy for approximately $280 million. "The closing of this strategic acquisition provides immediate earnings, expands our natural gas liquids asset portfolio and accelerates ONEOK's ability to capture commercial synergies related to our recent acquisition of Magellan," said Pierce H. Norton II, ONEOK president and chief executive officer. "These new assets offer significant connectivity between critical Gulf Coast supply and demand centers." The t
- SEC Filing
ONEOK (NYSE:OKE) has been analyzed by 5 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 3 1 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 1 0 0 2M Ago 0 2 0 0 0 3M Ago 1 0 0 0 0 Analysts have set 12-month price targets for ONEOK, revealing an average target of $89.4, a high estimate of $93.00, and a low estimate of $85.00. This current average has increased by 4.2% from the previous avera
JP Morgan analyst Jeremy Tonet maintains ONEOK (NYSE:OKE) with a Overweight and raises the price target from $89 to $92.
The U.S. faces severe heat waves, impacting areas from the Midwest into much of the Ohio Valley, Great Lakes, Northeast, and Mid-Atlantic through the next few days. According to the latest updates from the National Oceanic and Atmospheric Administration (NOAA), high temperatures and warm overnight lows will likely challenge daily and even some monthly records. Heat index readings are expected to peak from 100 to 105 degrees in many locations. “Those without access to reliable air conditioning are urged to find a way to cool down. Record warm overnight temperatures will prevent natural cooling and allow the heat danger to build over time indoors without air conditioning,” the NOAA w
ONEOK's (NYSE:OKE) short percent of float has fallen 8.33% since its last report. The company recently reported that it has 9.58 million shares sold short, which is 1.87% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.15 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is impor
ONEOK (NYSE:OKE) has outperformed the market over the past 20 years by 2.56% on an annualized basis producing an average annual return of 10.63%. Currently, ONEOK has a market capitalization of $46.01 billion. Buying $1000 In OKE: If an investor had bought $1000 of OKE stock 20 years ago, it would be worth $7,485.20 today based on a price of $78.84 for OKE at the time of writing. ONEOK's Performance Over Last 20 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated content engine and reviewed by an
ONEOK (NYSE:OKE) has been analyzed by 8 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 3 4 0 0 Last 30D 0 0 1 0 0 1M Ago 0 0 0 0 0 2M Ago 1 2 0 0 0 3M Ago 0 1 3 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $85.88, a high estimate of $93.00, and a low estimate of $81.00. Surpassing the previous av
Morgan Stanley analyst Robert Kad maintains ONEOK (NYSE:OKE) with a Equal-Weight and raises the price target from $90 to $93.
During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Below are the ratings of the most accurate analysts for three high-yielding stocks in the energy sector. Vitesse Energy, Inc. (NYSE:VTS) Dividend Yield: 8.42% Alliance Global Partners analyst Jeff Grampp initiated coverage on the stock wi
ONEOK (NYSE:OKE) has outperformed the market over the past 20 years by 2.76% on an annualized basis producing an average annual return of 10.79%. Currently, ONEOK has a market capitalization of $48.43 billion. Buying $1000 In OKE: If an investor had bought $1000 of OKE stock 20 years ago, it would be worth $7,797.93 today based on a price of $82.97 for OKE at the time of writing. ONEOK's Performance Over Last 20 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated content engine and reviewed by an
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