ONEOK, Inc., also known as OKE, closed at $101.61 in the latest trading session, showing a slight -0.01% move from the previous day.The company operates in the oils/energy sector and has scored higher than 77% of evaluated companies. It ranks 83rd out of 274 stocks in the sector, showcasing its strong performance.
With a market cap of $59.45B and 584.25M shares outstanding, ONEOK has become a significant player in the market. Its stock price has increased by +44.55% in the last 52 weeks, indicating its growth potential. However, the stock's price volatility has been higher than the market average, with a beta of 1.67.
ONEOK recently declared a quarterly dividend of 99 cents per share, remaining unchanged from previous quarters. This stability in dividend payouts demonstrates the company's commitment to shareholders. Investors can expect a reliable income stream from their investments in this company.
In terms of recent developments, ONEOK completed the sale of its three wholly owned interstate natural gas pipeline systems to DT Midstream for $1.2 billion in cash. This strategic move can be seen as a way for the company to optimize its portfolio and focus on core operations.
Furthermore, ONEOK is in the process of acquiring EnLink Midstream, LLC (ENLC). The completion of this acquisition is expected in the first quarter of 2025. The filing of EnLink's definitive proxy materials with the U.S. Securities and Exchange Commission indicates progress in this transaction.
Looking ahead, investors and analysts have an average price target of $101.14 for ONEOK stock, with estimates ranging from $85 to $132. This indicates a positive sentiment towards the company's future performance.
In conclusion, ONEOK, Inc. continues to make strides in the oils/energy sector, with a strong track record and promising future prospects. Its recent divestment and acquisition activities signal its commitment to optimizing its operations and expanding its market presence. Investors can expect reliable dividend payouts and potential growth in the stock price, making ONEOK an interesting investment opportunity in the current market environment.
