|Day's range||7.60 - 7.60|
Apart from ONEOK Inc. (OKE) and Chevron (CVX), ExxonMobil (XOM), Cheniere Energy (LNG) and TechnipFMC (FTI) hogged attention during the week.
Shares of Magellan Midstream Partners (NYSE: MMP) shot up this week, trading 13% higher as of noon Friday, according to data provided by S&P Global Market Intelligence. Ironically, several analysts downgraded the midstream energy stock over the past few days, but investors had a valid reason to rejoice. Earlier in May, Magellan Midstream reported solid 18% year-over-year growth in its distributable cash flow (DCF) and a whopping 65% growth in net income for the first quarter.
Magellan (MMP) and ONEOK join forces to create a midstream giant with a net enterprise value of $60.0 billion.
ONEOK (OKE) signs a merger agreement with Magellan. This pact will open up Magellan's refined products and crude oil transportation business to ONEOK.
ONEOK's acquisition of Magellan Midstream Partners might lead to more deals in the midstream space.
Pipeline companies ONEOK (NYSE: OKE) and Magellan Midstream Partners (NYSE: MMP) are merging to create a $60 billion energy infrastructure giant. The transformative transaction will form a much more diversified energy midstream company. The deal also has significant financial and tax benefits, enhancing the combined company's ability to support a high-yielding dividend.
My colleagues reported over the weekend that European leaders want to ban Russian gas imports on routes where Moscow has cut supplies, which would escalate the energy war. If enacted, the move would put a significant barrier up for any potential energy rapprochement down the road. In today’s newsletter, I look at a big pipeline deal between Oneok and Magellan Midstream, and what it says about the profound shift under way in the American energy landscape.
Oneok will acquire Magellan Midstream, but investors in only one oil and gas stock are positive about the deal.
Yahoo Finance Live's Julie Hyman looks at movers and stocks to watch in the market today, including SoFi Technologies, ONEOK, Magellan Midstream Partners, First Solar, and PacWest Bancorp.
The stock market appeared poised for a positive opening to the week Monday morning. Hopes that officials in Washington might reach resolution on a debt ceiling increase before the U.S. defaults on its sovereign debt helped lift stock market futures by around a quarter percent in premarket trading. Many investors on Wall Street often refer to the concept of Merger Monday, as a high number of deals between companies get finalized over weekends.
(Bloomberg) -- Oneok Inc. agreed to buy Magellan Midstream Partners LP in a $18.8 billion cash-and-stock transaction that would create one of the largest US oil and natural gas pipeline operators.Most Read from BloombergTurkey Latest: Erdogan Says Unclear If Vote Will Go to RunoffTurkey Set for Runoff as Erdogan Falls Just Short of VictoryRemote Work Comes With Daytime Drug and Drinking HabitsS&P ETF Barely Budges on Yellen’s Late-Day Notice: Markets WrapChina Jails 78-Year-Old American for Life
US pipeline giant Oneok is set to buy Magellan Midstream Partners for $18.8bn, creating one of the biggest oil and gas infrastructure companies in North America as consolidation in the hydrocarbon business gains pace. The deal, announced on Sunday, will create a company with an enterprise value of $60bn and a sprawling 25,000-mile network of pipelines stretching from North Dakota to Texas. Pierce Norton, chief executive of Oneok, described the transaction as “transformational”.
Constellation Energy's (CEG) first-quarter revenues increase year over year. The company commences $1 billion share repurchase program.
ONEOK (OKE) is likely to benefit from high fee-based earnings and midstream assets located in productive regions.
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
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Thank you, Chad, and welcome to ONEOK's first quarter 2023 earnings call. Statements made during this call that might include ONEOK's expectations or predictions should be considered forward-looking statements and are covered by the safe harbor provision of the Securities Acts of 1933 and 1934. With that, I'll turn the call over to Pierce Norton, president and chief executive officer.
ONEOK's (OKE) first-quarter 2023 earnings surpass estimates, while revenues miss the same.
Oneok (OKE) delivered earnings and revenue surprises of 13.04% and 11.81%, respectively, for the quarter ended March 2023. Do the numbers hold clues to what lies ahead for the stock?
ONEOK's (OKE) first-quarter earnings are likely to have benefited from fee-based earnings and an increase in production volumes.
Oneok (OKE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Oneok Inc. (OKE) closed the most recent trading day at $66.99, moving +1.04% from the previous trading session.
ONEOK, Inc. ( NYSE:OKE ) has announced that it will be increasing its dividend from last year's comparable payment on...
Oneok (OKE) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.