Oneok has simplified its corporate structure.
Oneok reported a strong second quarter and boosted its 2018 EBITDA guidance to a midpoint of $2.35 billion from $2.315 billion, which essentially matches our $2.36 billion forecast. As a result, we plan to maintain our $62 fair value estimate and narrow-moat rating. Oneok's assets are well located in the Scoop/Stack and Permian basins, and will benefit as steam crackers start up over the next few years, pulling ethane to the Gulf Coast and boosting volumes. Unsurprisingly, natural gas volumes pr...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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