DT Midstream Announces $1.2 Billion Acquisition of Strategic Midwest FERC-Regulated Natural Gas Pipelines
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DT Midstream, Inc. (NYSE: DTM) is acquiring three FERC-regulated natural gas pipelines from ONEOK, Inc. (NYSE: OKE) for $1.2 billion. The pipelines span 1,300 miles across seven Midwest states, with a capacity of over 3.7 Bcf/d. The acquisition is valued at a 10.5x 2025 EBITDA multiple.
November 19, 2024 | 9:15 pm
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POSITIVE IMPACT
DT Midstream is acquiring three natural gas pipelines from ONEOK for $1.2 billion, enhancing its asset base in the Midwest market.
The acquisition significantly expands DTM's asset base in a growing market, likely boosting its revenue and market position. The strategic move is expected to positively impact DTM's stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
NEUTRAL IMPACT
ONEOK is selling three natural gas pipelines to DT Midstream for $1.2 billion, potentially impacting its asset portfolio and financials.
The sale of assets may impact ONEOK's financials and asset portfolio. However, the immediate impact on stock price is uncertain as it depends on how the proceeds are utilized.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80