All articles tagged with #oneok
High-quality dividend stocks are expected to rally as government actions likely keep long-term rates suppressed, making cash less attractive. The piece highlights sustainable payers like SCHD, mispriced midstream names such as ONEOK, and value plays like Pfizer and Conagra Brands, noting OKE's 5.6% yield and potential upside if multiples normalize, while warning inflation and sector headwinds require selective stock picking.
The article highlights three dividend stocks—Conagra Brands, Realty Income, and Oneok—that have the potential for strong price appreciation and sustainable dividends over the next three years, driven by AI-driven operational improvements, interest rate movements, and strategic growth initiatives.
WarrenAI highlights Coterra and ONEOK as top energy stocks, with Coterra offering high growth potential and operational efficiency, and ONEOK providing a strong dividend yield despite higher debt, catering to different investor preferences.
ONEOK, Inc. has announced a definitive merger agreement to acquire all remaining publicly held common units of EnLink Midstream, LLC in a tax-free transaction valued at $4.3 billion in ONEOK common stock. Each EnLink unit will be converted into 0.1412 shares of ONEOK stock. The transaction, expected to close in the first quarter of 2025, has been approved by EnLink's Conflicts Committee and Board, and requires approval from a majority of EnLink unitholders. ONEOK, which already owns 44% of EnLink units, will not require a shareholder vote for this transaction.
Shareholders of Magellan Midstream have voted to approve the company's $18.8 billion sale to Oneok, an oil pipeline operator. The deal, which combines Oneok's natural gas and NGL shipping capabilities with Magellan Midstream, is expected to close before the market opens on Monday. The approval comes after major proxy advisers recommended shareholders vote in favor of the deal. However, Energy Income Partners, one of Magellan Midstream's largest holders, has opposed the deal, arguing that the premium offered does not justify the tax burden on unitholders.
Magellan Midstream Partners investors will receive a takeover premium in the pipeline operator's merger deal with Oneok, but many are expected to face significant tax bills.
ONEOK Inc. is set to acquire Magellan Midstream Partners LP for $18.8 billion, creating a combined company with a total value of $60 billion. The acquisition will add a leading, primarily fee-based, refined products and crude oil transportation business to ONEOK, resulting in a more resilient energy infrastructure company that is expected to produce stable cash flows through diverse commodity cycles. The combined company will own more than 25,000 miles of liquids-oriented pipelines, with significant assets and operational expertise at the Gulf Coast and Mid-Continent market hubs. The transaction is expected to close in the third quarter of 2023 and has been unanimously approved by the board of directors of both companies.
CNBC's Jim Cramer recommends investing in defensive stocks like health care, discount stores, and natural gas as lawmakers remain in a stalemate about the debt ceiling. Cramer suggests Oneok, a natural gas pipeline company, and Chipotle as safe bets, along with clothing discounters Ross Stores and TJX. He also recommends pharmaceutical companies Biogen and Eli Lilly, with the latter having an edge due to its popular weight loss and diabetes medicine, Mounjaro. Cramer advises investors to learn from the 2011 debt ceiling crisis and focus on winners that stayed winners through the worst of the debt ceiling talks.
Magellan Midstream Partners investors will receive a takeover premium in the pipeline operator's merger deal with Oneok, but many are expected to face significant tax bills.
Shares of ONEOK fell about 9% on Monday following concerns about potential synergies from its deal to acquire Magellan Midstream Partners for $18.8 billion in cash and stock. Analysts say the businesses are quite distinct and the potential value from the deal depends heavily on the impact on ONEOK's future tax liabilities. Magellan, registered as a master limited partnership, would provide about $1.5 billion in tax benefits to ONEOK between 2024 and 2027 as part of the conversion. The combined company will have 44% of its business in transporting natural gas liquids, 21% in refined products, 7% in crude products, 10% in gas pipelines and 18% in gathering and processing.
Shake Shack's stock rose over 6% after activist investor Engaged Capital bought a 6.6% stake in the company and planned a proxy fight for three board seats. Oneok agreed to acquire Magellan Midstream Partners for about $18.8 billion, causing Magellan's stock to jump 14.7%. Charles Schwab's shares climbed over 3% after Raymond James upgraded the stock. The European Union approved Microsoft's proposed plan to buy Activision Blizzard for $69 billion. SoFi Technologies lost nearly 9% after Wedbush downgraded the stock over concerns about fee growth.
Oneok's stock fell after announcing a $19 billion deal to acquire Magellan Midstream and become a major player in the oil and gas pipeline industry. The deal is expected to close by the end of the year and will create a company with a network of pipelines spanning the United States.
Shake Shack's stock rose by almost 4% after activist investor Engaged Capital acquired a 6.6% stake and planned a proxy fight for three board seats. Charles Schwab's stock increased by 2.4% due to its strong core banking business. Oneok is acquiring Magellan Midstream Partners for $18.8 billion, causing Magellan's shares to soar by 15.5%. H&R Block and Intuit's shares fell by 9.3% and 4.3%, respectively, following a report on the Biden Administration's potential creation of a government-run online tax filing program. Albemarle's shares rose by 2.7% after an upgrade to outperform by Baird.
Oneok's stock fell after announcing a $19 billion deal to acquire Magellan Midstream and become a major player in the oil and gas pipeline industry. The deal is expected to close by the end of the year and will create a company with a network of pipelines spanning the United States.
Oneok has agreed to acquire Magellan Midstream Partners in a cash-and-stock deal worth $18.8 billion, creating one of the largest oil and natural gas pipeline operators in the US. The deal includes $8.8 billion in new equity and the assumption of $5 billion of existing net debt. The acquisition will give Oneok access to a network of crude oil and refined products conduits and terminals sprawling from Texas to Minnesota. The transaction is expected to close in the third quarter, subject to shareholders and regulatory approvals.