ONEOK Inc. ($OKE) Stock Forecast: Down 5.0% Today

What is ONEOK Inc.?

ONEOK Inc. (OKE) is a leading midstream service provider in the energy sector, specializing in natural gas and natural gas liquids. The company plays a crucial role in the transportation and storage of energy products.

Why is ONEOK Inc. going down?

OKE stock is down 5.0% on Nov 25, 2024 16:57

• The bearish movement in OKE's stock price today could be attributed to profit-taking by investors after a recent surge in the stock price.
• The announcement of the $4.3 billion acquisition of EnLink Midstream by ONEOK might have raised concerns among investors about the potential dilution of value or integration challenges.
• The decision to sell three interstate natural gas pipeline systems for $1.2 billion could have been perceived by the market as a strategic shift that may impact OKE's future revenue streams, leading to a negative sentiment among investors.
• Overall, the market reaction to these strategic moves by ONEOK seems to have triggered a bearish trend in the stock price as investors reassess the company's growth and profitability prospects in the midstream energy sector.

OKE Price Chart

OKE Technical Analysis

OKE News

ONEOK Bolsters Portfolio With EnLink Acquisition, $4.3 Billion Deal Unveiled - EnLink Midstream ( NYSE:ENLC ) , ONEOK ( NYSE:OKE )

EnLink Midstream, LLC ENLC shares traded higher premarket on Monday after it disclosed a merger deal with ONEOK, Inc. OKE for $4.3 billion. As per the deal, each EnLink common unit not owned by ONEOK will be exchanged for 0.1412 shares of ONEOK stock.

https://www.benzinga.com/24/11/42159638/oneok-bolsters-portfolio-with-enlink-acquisition-43-billion-deal-unveiled

ONEOK to Sell Three Interstate Natural Gas Pipeline Systems for $1.2B

OKE is set to sell its three interstate natural gas pipeline systems. This deal will align and enhance its capital allocation priorities within its integrated operating footprint.

https://www.zacks.com/stock/news/2372697/oneok-to-sell-three-interstate-natural-gas-pipeline-systems-for-12b

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ONEOK Inc. Price History

16.10.2023 - OKE Stock was down 0.6%

• ONEOK announced a reduced dividend payout, which may have disappointed investors and led to a bearish market movement.
• Coastal Investment Advisors Inc. increased its holdings in ONEOK, indicating positive sentiment towards the stock. However, this did not prevent the bearish movement.
• Jones Financial Companies Lllp sold a significant number of shares in ONEOK, suggesting a lack of confidence in the stock.
• Despite beating earnings estimates and completing an acquisition, ONEOK's stock still experienced a decline, possibly due to overall market conditions or other factors not mentioned in the provided articles.

15.04.2023 - OKE Stock was down 5.8%

• ONEOK Inc. (OKE) agreed to acquire all outstanding units of Magellan Midstream Partners L.P. (MMP) in a cash-and-stock transaction valued at about $18.8 billion. The acquisition might have been seen as a negative move by investors, leading to the bearish movement.
• The acquisition will create a Tulsa, Oklahoma-based midstream giant with a combined 25,000 miles of liquids-oriented pipelines. The investors might have been concerned about the integration of the two companies and the potential risks involved.
• Cash-rich oil and gas companies are seeking acquisitions after a lengthy dry spell, which might have caused investors to be cautious about the deal and the future prospects of the company.
• The deal will combine ONEOK and Magellan, forming the second-largest U.S.-based pipeline company by stock-market value. However, the investors might have been concerned about the competition in the market and the impact on the company's profitability.

25.10.2024 - OKE Stock was down 5.0%

• The bearish movement in OKE's stock price today could be attributed to profit-taking by investors after a recent surge in the stock price.
• The announcement of the $4.3 billion acquisition of EnLink Midstream by ONEOK might have raised concerns among investors about the potential dilution of value or integration challenges.
• The decision to sell three interstate natural gas pipeline systems for $1.2 billion could have been perceived by the market as a strategic shift that may impact OKE's future revenue streams, leading to a negative sentiment among investors.
• Overall, the market reaction to these strategic moves by ONEOK seems to have triggered a bearish trend in the stock price as investors reassess the company's growth and profitability prospects in the midstream energy sector.

06.07.2024 - OKE Stock was up 5.2%

• ONEOK (OKE) exceeded EPS forecasts but fell short of revenue predictions in the second quarter, demonstrating a strong performance in terms of bottom-line results.
• Although revenue was below expectations, the company's adjusted EBITDA showed a year-over-year increase, highlighting efficient operations and cost control.
• Investor confidence in ONEOK's ability to meet annual financial targets following the second quarter results has bolstered the bullish market trend.
• The second-quarter profit growth and outperformance against forecasts indicate that despite revenue hurdles, ONEOK's profitability and strategic trajectory are in line with market consensus, fueling positive market sentiment.