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ONEOK Inc. Sells Three Pipeline Systems to DT Midstream, Boosts Financial Position

January 02, 2025
ONEOK Inc., a prominent energy company, has announced the sale of three pipeline systems to DT Midstream for a staggering $1.2 billion. This strategic move not only strengthens ONEOK's financial position but also showcases its commitment to optimizing its asset portfolio.

The sale of these pipeline systems is expected to reduce ONEOK's capital investments by approximately $100 million in 2021. The company will focus on its core businesses, including natural gas liquids (NGL) and natural gas gathering and processing.

Peter Soos, the CEO of ONEOK, expressed his enthusiasm about this development, stating, "The sale of these assets enables ONEOK to capitalize on the strong demand for infrastructure assets while maintaining our robust portfolio of strategic, long-term contracted assets."

ONEOK Inc. has consistently impressed investors, with its stock witnessing a remarkable surge of 4.6% over the last week. This growth can be attributed to the company's high institutional ownership, reinforcing investors' confidence in its performance.

Despite its recent success, it is essential to approach stock market investments with caution. To gain valuable insights and make informed decisions, it is recommended to consult professionals from Stocks Prognosis, who provide expert analysis and forecasts regarding the movement of ONEOK Inc.'s stock.

The sale of the pipeline systems to DT Midstream showcases ONEOK's dedication to optimizing its asset portfolio and capitalizing on lucrative opportunities. As the company continues to bolster its financial position, investors can anticipate exciting developments in the future.

Find out how the ONEOK, INC. rate is expected to change

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Investor opinions & comments:

ONEOK Inc. is definitely a company to watch. Their stock has been performing really well lately
— from HenryMurphy at 01-05-2025 16:09
I'm not so sure about this sale. Will it really benefit ONEOK Inc. in the long run? Time will tell
— from EmilyMiller at 01-05-2025 15:13
Wow, $1.2 billion is a huge sale! ONEOK Inc. seems to be making some smart business decisions
— from RobertWhite at 01-05-2025 03:07
ONEOK Inc.'s commitment to optimizing its asset portfolio is commendable. It shows they are focused on growth and profitability
— from InvestorTom at 01-05-2025 01:55
This sale will definitely boost ONEOK Inc.'s financial position. Great news for investors!
— from SavingsSam at 01-05-2025 01:29
I'm curious to see how this sale will impact ONEOK Inc.'s capital investments in the coming year
— from SamanthaEvans at 01-04-2025 17:49
Will ONEOK Inc.'s core businesses be enough to sustain their growth after selling these pipeline systems?
— from SaraBrown at 01-04-2025 05:01
I wonder what other strategic moves ONEOK Inc. has planned for the future. The possibilities are endless
— from HannahCarter at 01-03-2025 17:09
I wonder if ONEOK Inc. could have gotten a better deal for these pipeline systems. $1.2 billion seems like a lot
— from FinanceFinn at 01-03-2025 12:03
The surge in ONEOK Inc.'s stock is a clear indication of investors' confidence in the company. Exciting times ahead!
— from CharlotteCampbell at 01-03-2025 01:08
With this sale, ONEOK Inc. is positioning itself for even more success in the energy industry. Smart move
— from EllaFlores at 01-02-2025 19:19
I'm excited to see what ONEOK Inc. will do with their strengthened financial position. The future looks promising!
— from BudgetBrittany at 01-02-2025 13:08
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