ONEOK Completes Acquisition of Delaware G&P Stake

An announcement from Oneok ( (OKE) ) is now available.

On June 3, 2025, ONEOK announced the acquisition of the remaining 49.9% interest in Delaware G&P LLC from NGP XI Midstream Holdings for $940 million, making ONEOK the sole owner of the Delaware Basin JV. This acquisition, completed on May 28, 2025, enhances ONEOK’s growth strategy in the Permian Basin, strengthening its position in the natural gas gathering and processing sector with facilities capable of processing over 700 million cubic feet per day.

The most recent analyst rating on (OKE) stock is a Buy with a $90.00 price target. To see the full list of analyst forecasts on Oneok stock, see the OKE Stock Forecast page.

Spark’s Take on OKE Stock

According to Spark, TipRanks’ AI Analyst, OKE is a Outperform.

ONEOK’s overall stock score reflects its strong earnings growth and robust cash generation, offset by technical indicators suggesting bearish trends and concerns over high debt levels. While the valuation is fair with a compelling dividend yield, strategic projects and acquisition synergies bolster its long-term growth prospects.

To see Spark’s full report on OKE stock, click here.

More about Oneok

ONEOK, Inc. is a leading midstream operator in North America, providing gathering, processing, fractionation, transportation, storage, and marine export services. With a 60,000-mile pipeline network, the company transports natural gas, natural gas liquids, refined products, and crude oil, contributing to energy security and providing reliable energy solutions. Headquartered in Tulsa, Oklahoma, ONEOK is an S&P 500 company.

Average Trading Volume: 4,059,437

Technical Sentiment Signal: Buy

Current Market Cap: $51.54B

For a thorough assessment of OKE stock, go to TipRanks’ Stock Analysis page.