ONEOK (OKE) Prices 26M Share Common Offering at $32/Sh

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ONEOK (OKE) Announces 26M Share Public Offering of Common Stock

June 11, 2020 7:02 AM EDT

ONEOK, Inc. (NYSE: OKE) today announced an underwritten public offering of 26 million shares of its common stock. ONEOK expects to grant to the underwriters a 30-day over-allotment option to purchase up to 3.9 million additional shares.

ONEOK expects to use the net proceeds from the offering for general corporate purposes, which may include the repayment of existing indebtedness and the funding of capital expenditures.

Barclays, J.P. Morgan... More

UPDATE: BofA Securities Downgrades ONEOK Inc (OKE) to Neutral on Valuation

June 11, 2020 6:21 AM EDT

(Updated - June 11, 2020 9:11 AM EDT)

(updated to add analyst comments)

BofA Securities analyst Derek Walker downgraded ONEOK Inc (NYSE: OKE) from Buy to Neutral while raising its price target to $42 from $35 saying valuation reflects recovery optimism and NGL price... More