ONEOK

ONEOK will acquire Brazos Midstream’s Permian Midland Basin assets for $4.425 billion, financed largely by a $9 billion nonvoting minority equity investment from Apollo-managed funds that carries a nine-year capped IRR of 7%. The deal more than doubles ONEOK’s Midland processing capacity to about 2.3 bcfd, is expected to be immediately EPS-accretive, and the structure extinguishes roughly $5 billion of debt without issuing common shares. The Class B interest is subordinate, has limited rights, and will receive variable quarterly distributions tied to cash flow; amounts above the cap reduce the investor’s capital balance and excess value accrues to common shareholders. Key risks include the deal’s execution to realize synergies and volume growth, the minority claim on company-wide cash flow, and the use of company-defined adjusted EBITDA that complicates valuation multiples. » Altro su finance.yahoo.com

ONEOK bought Brazos Midstream's Permian assets for $4.42 billion, adding 700 miles of gathering lines and 1.2 Bcf/d of gas processing capacity to bolster its gas position. The deal follows other major midstream acquisitions as ONEOK builds scale to serve rising LNG exports and AI data-center demand. Apollo Global Management is making a $9 billion investment in ONEOK—$4 billion to fund the Brazos purchase and $5 billion to reduce debt. ONEOK is also developing the 450-mile Eiger Express pipeline to move Permian gas to the Houston area, with capacity plans increased to more than 3.5 Bcf/d for a 2028 start. » Altro su finance.yahoo.com

ONEOK’s stock hit a 52-week high of $97.99 and is currently trading at $99.11, up 28.67% over the past year and 35.6% year-to-date. For Q2 2026 the company reported earnings per share of $1.53 (above estimates) but missed revenue with $8.63 billion; the annual guidance for EBITDA and diluted EPS was raised. ONEOK announced the acquisition of Brazos Midstream assets in the Permian Basin for about $4.4 billion, financed by a $9 billion minority stake from Apollo, and currently offers a dividend yield of 8.92% with 56 years of dividend continuity. Analyst reactions ranged from an upgrade to “buy” to target-price adjustments by Scotiabank and confirmation of a neutral rating by UBS following the acquisition. » Altro su de.investing.com