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

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.