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

Zacks11-20 22:31

ONEOK, Inc. OKE announced that it has executed a definitive agreement with DT Midstream, Inc. DTM. Under this agreement, ONEOK will sell its three wholly owned interstate natural gas pipeline systems ...

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Under this agreement, ONEOK will sell its three wholly owned interstate natural gas pipeline systems ...</p>\n\n<a href=\"https://finance.yahoo.com/news/oneok-sell-three-interstate-natural-143100032.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ONEOK to Sell Three Interstate Natural Gas Pipeline Systems for $1.2B</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nONEOK to Sell Three Interstate Natural Gas Pipeline Systems for $1.2B\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-20 22:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/oneok-sell-three-interstate-natural-143100032.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ONEOK, Inc. OKE announced that it has executed a definitive agreement with DT Midstream, Inc. DTM. Under this agreement, ONEOK will sell its three wholly owned interstate natural gas pipeline systems ...</p>\n\n<a href=\"https://finance.yahoo.com/news/oneok-sell-three-interstate-natural-143100032.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DTM","symbol_name":"DT MIDSTREAM INC","start_time":0,"source_url":"https://finance.yahoo.com/news/oneok-sell-three-interstate-natural-143100032.html","article_id":"2485414102","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ASssTeY55AjnPNR42COs2A--~B/aD0zNDk7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/284cd195f1b0e007821e04d087111e93"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485414102","pubTimestamp":1732113060,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"ONEOK, Inc. OKE announced that it has executed a definitive agreement with DT Midstream, Inc. DTM. Under this agreement, ONEOK will sell its three wholly owned interstate natural gas pipeline systems for a total cash consideration of $1.2 billion, subject to customary adjustments.The transaction, unanimously approved by the boards of directors of both ONEOK and DT Midstream, is expected to be closed in the fourth quarter of 2024, subject to customary closing conditions, including Hart-Scott-Rodino Act clearance.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"DTM":"DT MIDSTREAM INC","IE00BMG7P587.USD":"LEGG MASON CLEARBRIDGE GLOBAL INFRASTRUCTURE INCOM \"A\" (USD) INC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","BK4588":"碎股","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","NGS":"Natural Gas Services Group Inc","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","BK4179":"石油天然气设备与服务","BK4144":"石油与天然气的储存和运输","IE00BMG7P819.SGD":"Legg Mason ClearBridge - Global Infrastructure Income A Mdis SGD-H Plus","IE00BMG7P926.USD":"Legg Mason ClearBridge - Global Infrastructure Income A Acc USD","BK4566":"资本集团","EQT":"EQT能源","BK4213":"石油与天然气的勘探与生产","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","IE00BMG7P694.USD":"Legg Mason ClearBridge - Global Infrastructure Income A Mdis USD Plus","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","TRP":"TC Energy","OKE":"欧尼克（万欧卡）","BK4585":"ETF&股票定投概念","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus"},"translate_title":"ONEOK将以$1.2 B出售三个州际天然气管道系统","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TRP":1,"NGS":1,"DTM":1,"EQT":1,"OKE":0.9},"content_text":"ONEOK, Inc. OKE announced that it has executed a definitive agreement with DT Midstream, Inc. DTM. Under this agreement, ONEOK will sell its three wholly owned interstate natural gas pipeline systems for a total cash consideration of $1.2 billion, subject to customary adjustments.The transaction, unanimously approved by the boards of directors of both ONEOK and DT Midstream, is expected to be closed in the fourth quarter of 2024, subject to customary closing conditions, including Hart-Scott-Rodino Act clearance.\nKey Details of OKE’s Deal\nThe three interstate natural gas pipeline systems consist of Guardian Pipeline, L.L.C. links to local natural gas distribution and power generation firms in Wisconsin, as well as a number of pipes at the Chicago Hub near Joliet, IL. The second is Midwestern Gas Transmission — a bidirectional system that includes several interstate pipelines with access to the Marcellus and Utica shale, a major pipeline interconnect near Portland, TN, and multiple interstate pipelines at the Chicago Hub near Joliet, IL.The third is Viking Gas Transmission — a two-way system that connects to a significant pipeline network at the U.S. border close to Marshfield, WI, and Emerson, Canada.According to Federal Energy Regulatory Commission filings, as of June 30, 2024, the purchase price was 10.8 times the previous year's EBITDA.The net proceeds from the sale are anticipated to improve ONEOK's financial flexibility and its deleveraging trend as it moves closer to its previously stated goal of 3.5 times in 2026.\nOther Oil & Gas Company’s Divestiture\nHere are some oil and gas companies that take strategic actions to grow their businesses.EQT Corporation EQT, a leading U.S.-based natural gas producer, is reportedly in talks with Blackstone, a major private equity firm, to sell minority stakes in its interstate natural gas pipelines, per Reuters. The transaction is valued at approximately $3.5 billion. This might ease a considerable amount of EQT's debt burden. Per Reuters, EQT will continue to operate the pipeline after the deal is finalized.The Zacks Consensus Estimate for 2024 sales indicates a year-over-year increase of 7.8%. The company delivered an average earnings surprise of 56% in the trailing four quarters.TC Energy Corporation TRP has an agreement to sell its Prince Rupert Gas Transmission project (“PRGT”) to Nisga’a Nation and Western LNG. PRGT is a natural gas pipeline project in British Columbia, the westernmost province of Canada, that would support the development of liquefied natural gas exports. The divestiture aligns with TC Energy's strategic priorities for 2024, which focus on disciplined capital allocation within its established investment framework, maximizing asset value and enhancing its overall financial strength.TRP’s long-term (three to five-year) earnings growth rate is 4%. It delivered an average earnings surprise of 12.7% in the trailing four quarters.\nOKE’s Price Performance\nOver the past three months, ONEOK’s shares have risen 30.6% compared with the industry’s 13.9% growth.\n \nImage Source: Zacks Investment Research\nOKE’s Zacks Rank\nONEOK currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nONEOK, Inc. (OKE) : Free Stock Analysis Report\nEQT Corporation (EQT) : Free Stock Analysis Report\nTC Energy Corporation (TRP) : Free Stock Analysis Report\nDT Midstream, Inc. (DTM) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Company Corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485414102"}