Adjusting Oneok's FVEs to Reflect Pending Merger
With Oneok Inc., and Oneok Partners headed toward the culmination of their proposed merger, we adjusted our fair value estimates to reflect year-to-date performance, an updated post-consolidation outlook, and the merger exchange ratio.Our fair value estimate for Oneok Inc., is now $52 per share, assuming the merger closes as expected on July 1. Our fair value estimate for Oneok Partners is now $51 per share, reflecting Oneok Inc.'s proposed 0.985 share exchange ratio. The primary valuation chan...
Oneok is a midstream service provider. The company's segments include: Natural Gas Gathering and Processing, which provides midstream services to producers in North Dakota, Montana, Wyoming, Kansas and Oklahoma; natural gas liquids (NGLs), which owns and operates facilities that gather, fractionate, treat and distribute NGLs and store NGL products, primarily in Oklahoma, Kansas, Texas, New Mexico and the Rocky Mountain region; and Natural Gas Pipelines, which provides transportation and storage services to end users through its wholly owned assets and its ownership interests in Northern Border Pipeline Company and Roadrunner Gas Transmission, LLC.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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