Latest news with #ONEOK
Yahoo
6 days ago
- Business
- Yahoo
ONEOK buys remaining stake in Delaware Basin JV for $940m
Natural gas transmission company ONEOK has acquired the remaining 49.9% interest in the Delaware Basin joint venture (JV) from NGP XI Midstream Holdings for $940m. The deal, which includes $530m in cash and $410m in ONEOK common stock, positions ONEOK as the sole owner of the JV. The Delaware Basin JV boasts a processing capacity of more than 700 million cubic feet per day in the Delaware Basin across west Texas and New Mexico. ONEOK provides fractionation, gathering, marine export, processing, storage and transportation services. With a network of approximately 60,000 miles of pipelines, ONEOK plays a crucial role in transporting natural gas, natural gas liquids (NGLs), refined products and crude oil, catering to both domestic and international energy demand. The acquisition comes after recent strategic moves by ONEOK, including the formation of JVs with MPLX in February to develop a large-scale liquefied petroleum gas (LPG) export terminal in Texas City and a connecting pipeline. These ventures involve the construction of a new 400,000 barrel per day (bpd) LPG export terminal and a 24in pipeline from ONEOK's Mont Belvieu storage facility to the terminal. Earlier this year, ONEOK concluded the sale of its three interstate natural gas pipeline systems to DT Midstream for $1.2bn in cash. ONEOK reported a net income of $691m for the first quarter ended 31 March 2025, compared with $639m in the same period last year. In January this year, ONEOK completed its acquisition of Dallas-headquartered EnLink Midstream, a provider of integrated midstream infrastructure services for natural gas, crude oil and NGLs, as well as CO₂ transportation for carbon capture and sequestration. "ONEOK buys remaining stake in Delaware Basin JV for $940m" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
7 days ago
- Business
- Reuters
ONEOK buys remaining stake in Delaware Basin JV for $940 million
June 3 (Reuters) - U.S. pipeline operator ONEOK (OKE.N), opens new tab said on Tuesday that it had bought the remaining stake in Delaware Basin JV from NGP XI Midstream Holdings in a cash-and-stock deal valued at $940 million. By acquiring the remaining 49.9% interest, ONEOK has gained sole ownership of the basin, which operates natural gas gathering and processing facilities in West Texas and New Mexico's Delaware Basin, with a total processing capacity exceeding 700 million cubic feet per day. Over the past two years, the pipeline operator has diversified its portfolio with acquisitions, including a Gulf Coast NGL pipeline system from Easton Energy and the purchases of Medallion Midstream and EnLink Midstream. These moves are part of a broader effort to boost its presence in the Permian Basin amid growing consolidation in the U.S. energy sector. The company said that the deal comprises $530 million in cash and $410 million in ONEOK common stock. ONEOK operates a 60,000-mile pipeline network that transports natural gas, natural gas liquids, refined products, and crude oil.
Yahoo
28-05-2025
- Business
- Yahoo
Here's Why We Think ONEOK (NYSE:OKE) Might Deserve Your Attention Today
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks' without any revenue, let alone profit. But as Peter Lynch said in One Up On Wall Street, 'Long shots almost never pay off.' Loss making companies can act like a sponge for capital - so investors should be cautious that they're not throwing good money after bad. If this kind of company isn't your style, you like companies that generate revenue, and even earn profits, then you may well be interested in ONEOK (NYSE:OKE). Even if this company is fairly valued by the market, investors would agree that generating consistent profits will continue to provide ONEOK with the means to add long-term value to shareholders. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. The market is a voting machine in the short term, but a weighing machine in the long term, so you'd expect share price to follow earnings per share (EPS) outcomes eventually. That means EPS growth is considered a real positive by most successful long-term investors. Over the last three years, ONEOK has grown EPS by 13% per year. That's a good rate of growth, if it can be sustained. It's often helpful to take a look at earnings before interest and tax (EBIT) margins, as well as revenue growth, to get another take on the quality of the company's growth. EBIT margins for ONEOK remained fairly unchanged over the last year, however the company should be pleased to report its revenue growth for the period of 39% to US$25b. That's a real positive. In the chart below, you can see how the company has grown earnings and revenue, over time. For finer detail, click on the image. View our latest analysis for ONEOK While we live in the present moment, there's little doubt that the future matters most in the investment decision process. So why not check this interactive chart depicting future EPS estimates, for ONEOK? Since ONEOK has a market capitalisation of US$51b, we wouldn't expect insiders to hold a large percentage of shares. But we do take comfort from the fact that they are investors in the company. Indeed, they have a considerable amount of wealth invested in it, currently valued at US$103m. While that is a lot of skin in the game, we note this holding only totals to 0.2% of the business, which is a result of the company being so large. This should still be a great incentive for management to maximise shareholder value. As previously touched on, ONEOK is a growing business, which is encouraging. For those who are looking for a little more than this, the high level of insider ownership enhances our enthusiasm for this growth. The combination definitely favoured by investors so consider keeping the company on a watchlist. It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with ONEOK , and understanding this should be part of your investment process. There's always the possibility of doing well buying stocks that are not growing earnings and do not have insiders buying shares. But for those who consider these important metrics, we encourage you to check out companies that do have those features. You can access a tailored list of companies which have demonstrated growth backed by significant insider holdings. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
27-05-2025
- Business
- Yahoo
ONEOK to Participate in Investor Conference
TULSA, Okla., May 27, 2025 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) will participate in an investor conference this week and in a fireside chat session at 2:30 p.m. Eastern Time (1:30 p.m. Central Time) on Wednesday, May 28. The session will be webcast live on ONEOK's website at The webcast will also be available for replay. ONEOK's latest investor materials are available at 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, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world. ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma. For information about ONEOK, visit the website: For the latest news about ONEOK, find us on LinkedIn, Facebook, X and Instagram. Analyst Contact: Megan Patterson 918-561-5325Media Contact: Brad Borror 918-588-7582 View original content to download multimedia: SOURCE ONEOK, Inc. Sign in to access your portfolio
Reuters
29-04-2025
- Business
- Reuters
ONEOK reports marginally lower first-quarter profit on higher operating costs
April 29 (Reuters) - U.S. pipeline operator ONEOK (OKE.N), opens new tab on Tuesday reported a marginal fall in first-quarter profit, hurt by higher operating costs and divestments. Shares were down 3.7% at $84.60 in extended trading. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. Quarterly operating costs jumped about 32% to $752 million from a year earlier, weighed down by higher employee-related expenses. The company has been diversifying its portfolio through acquisitions over the past two years, including a Gulf Coast NGL pipeline system from Easton Energy and the purchases of Medallion Midstream and EnLink Midstream. ONEOK moved into transporting refined products and oil in 2023 following its acquisition of rival Magellan Midstream in an $18.8 billion deal. ONEOK transports natural gas, natural gas liquids (NGLs), refined products and crude oil through its 60,000-mile-long network of pipelines. The company had also divested three natural gas transmission pipelines to peer DT Midstream (DTM.N), opens new tab for $1.2 billion in cash in 2024. However, quarterly adjusted core profit for all four of its segments rose on the back of higher contributions from its acquisitions of EnLink and Medallion. The company continues to expect current-year net income of between $3.21 billion and $3.69 billion. The Tulsa, Oklahoma-based company reported net income attributable of $636 million, or $1.04 per share, for the quarter ended March 31, compared with $639 million, or $1.09 per share, a year earlier.
