Loading…
Loading…
Oneok (OKE) reported earnings 30 days ago. What's next for the stock?
Oneok is making a major acquisition and strengthening its financial profile.
As noted last week, midstream MLPs and corporations broadly raised full-year financial guidance following a strong second quarter. Looking ahead, the sector's growth runway is accelerating.
ONEOK's $4.425B Brazos Midland deal more than double Midland Basin processing capacity and expand its Permian footprint.
The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.
ONEOK NYSE: OKE said it has agreed to acquire Brazos Midstream's natural gas gathering and processing assets in the Permian Basin's Midland Basin for $4.425 billion, alongside a $9 billion minority equity investment from funds and affiliates managed by Apollo.
ONEOK is downgraded to "Hold" as valuation limits clear double-digit annual total return potential despite strong fundamentals. OKE delivered record Q2 2026 results with 52.8% YoY revenue growth, robust NGL throughput, and raised 2026 EBITDA guidance to $8.35 billion. Growth is underpinned by data center-driven demand, new supply contracts, and a pipeline of expansion projects slated through 2028.
ONEOK is set to acquire Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for $4.43 billion, expanding its footprint in prolific American oil hub.