Oneok Inc Stock Price, News & Analysis

ONEOK, Inc. (NYSE: OKE) has scheduled its third quarter 2024 earnings release for October 29, 2024, after market close. A conference call and webcast will follow on October 30, 2024, at 11 a.m. Eastern (10 a.m. Central). Participants can join via phone at 877-883-0383 (entry number 6520132) or through the webcast at www.oneok.com. A replay will be available on ONEOK's website for one year and by phone for seven days.

ONEOK is a leading midstream operator with a 50,000-mile pipeline network, providing gathering, processing, fractionation, transportation, and storage services for natural gas, NGLs, refined products, and crude oil. As an S&P 500 company headquartered in Tulsa, Oklahoma, ONEOK plays a important role in meeting domestic and international energy demand.

ONEOK (NYSE: OKE) has announced a $7.0 billion senior notes offering with various maturities and coupon rates. The net proceeds, expected to be approximately $6.92 billion, will primarily fund the acquisition of Global Infrastructure Partners' interests in EnLink Midstream, and Medallion Midstream, . The offering includes:

• $1.25 billion of 3-year notes at 4.25%
• $600 million of 5-year notes at 4.40%
• $1.25 billion of 7-year notes at 4.75%
• $1.60 billion of 10-year notes at 5.05%
• $1.50 billion of 30-year notes at 5.70%
• $800 million of 40-year notes at 5.85%

The offering is expected to close around September 24, 2024, subject to customary conditions. Any remaining proceeds will be used for general corporate purposes, including potential debt repayment.

ONEOK (NYSE: OKE), a leading midstream energy operator, is set to participate in the Barclays CEO Energy-Power Conference on Sept. 4-5, 2024, in New York. The company's management team will engage in a fireside chat session on Wednesday, Sept. 4, at 2:25 p.m. Eastern Time. This session will be webcast live on ONEOK's website and available for replay.

ONEOK operates a 50,000-mile pipeline network, providing essential services in gathering, processing, fractionation, transportation, and storage of natural gas, NGLs, refined products, and crude oil. As an S&P 500 company headquartered in Tulsa, Oklahoma, ONEOK plays a important role in meeting domestic and international energy demand, contributing to energy security, and delivering responsible energy solutions for the future.

ONEOK (NYSE: OKE) has announced two major acquisitions valued at $5.9 billion, significantly expanding its presence in the Permian Basin and other key regions. The company will acquire Global Infrastructure Partners' (GIP) 43% stake in EnLink Midstream (NYSE: ENLC) for $3.3 billion and Medallion Midstream for $2.6 billion. These transactions are expected to be immediately accretive to earnings per share and free cash flow, while maintaining ONEOK's strong investment-grade credit ratings.

The acquisitions will establish a fully integrated Permian Basin platform at scale, expand ONEOK's footprint in the Mid-Continent, North Texas, and Louisiana, and provide significant synergies through complementary asset positions. ONEOK anticipates annual synergies of $250-450 million within three years. The company also intends to pursue a tax-free acquisition of the publicly held interests in EnLink following the closing of these transactions.

ONEOK (NYSE: OKE) announced its participation in investor meetings at the Citi Midstream and New Energy Infrastructure Conference from August 13-14, 2024, in Las Vegas. As a leading midstream operator, ONEOK provides essential energy services through its extensive 50,000-mile pipeline network, including gathering, processing, fractionation, transportation, and storage of natural gas, NGLs, refined products, and crude oil.

ONEOK plays a important role in meeting domestic and international energy demand, contributing to energy security, and delivering responsible energy solutions. As an S&P 500 company headquartered in Tulsa, Oklahoma, ONEOK is committed to providing energy that makes a difference in people's lives across the U.S. and globally. Investors can access ONEOK's latest materials at www.oneok.com.

ONEOK (NYSE: OKE) reported strong Q2 2024 results, with net income of $780 million ($1.33 per diluted share) and adjusted EBITDA of $1.6 billion. Key highlights include:

- 12% increase in Rocky Mountain region NGL raw feed throughput volumes
- 19% increase in Natural Gas Liquids segment adjusted EBITDA
- 14% increase in Natural Gas Pipelines segment adjusted EBITDA
- Completed acquisition of NGL pipelines from Easton Energy for $280 million
- Announced refined products pipeline expansion to Denver area
- Declared quarterly dividend of $0.99 per share

ONEOK affirmed its full-year 2024 financial guidance, citing favorable market fundamentals and strong operational performance. The company's focus remains on safe, reliable, and environmentally responsible operations while providing essential energy services.

ONEOK (NYSE: OKE) has released its annual Corporate Sustainability Report, showcasing significant progress in environmental, social, and governance (ESG) performance. Key highlights include:

- Achieved approximately 50% of its 2030 greenhouse gas emissions reduction target by year-end 2023
- Reduced Scope 1 methane emissions by 36% from 2019 baseline
- Invested in innovative energy solutions and participated in hydrogen and carbon storage studies
- Received an MSCI ESG Rating of AAA in 2024
- Qualified for inclusion in over 40 ESG-related stock market indices
- Recognized as one of America's Greatest Workplaces for 2024 by Newsweek
- Contributed $9.6 million to charitable organizations in 2023

ONEOK, a leading midstream energy service provider, operates a 50,000-mile pipeline network, delivering vital energy products and services across North America.

ONEOK (NYSE: OKE) has announced plans to expand its pipeline capacity connecting Mid-Continent and Gulf Coast refined products supply with the greater Denver area. The project includes:

• Construction of a new 230-mile, 16-inch diameter pipeline from Scott City, Kansas, to Denver International Airport (DIA)
• Addition or upgrading of pump stations along the existing refined products pipeline system
• Increase in total system capacity by 35,000 barrels per day
• Estimated cost of $480 million
• Expected completion in mid-2026

The project is fully subscribed under long-term contracts and aims to meet growing demand for refined products and renewable fuels in the Denver area, including aviation and sustainable aviation fuel for DIA's expansion.

ONEOK (NYSE: OKE), a leading midstream operator, has declared a quarterly dividend of 99 cents per share, unchanged from the previous quarter. This results in an annualized dividend of $3.96 per share. The dividend is payable on Aug. 14, 2024, to shareholders of record at the close of business on Aug. 1, 2024.

ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma, with a 50,000-mile pipeline network. The company provides gathering, processing, fractionation, transportation, and storage services for natural gas, natural gas liquids (NGLs), refined products, and crude oil across North America.