Slow Stochastic
Previous Close | 61.60 |
Open | 61.19 |
Bid | 61.00 x 800 |
Ask | 64.44 x 900 |
Day's Range | 60.95 - 61.80 |
52 Week Range | 44.79 - 64.42 |
Volume | |
Avg. Volume | 1,325,609 |
Market Cap | 12.36B |
Beta (5Y Monthly) | 0.91 |
PE Ratio (TTM) | 13.07 |
EPS (TTM) | 4.68 |
Earnings Date | Jul 26, 2023 - Jul 31, 2023 |
Forward Dividend & Yield | 4.19 (6.85%) |
Ex-Dividend Date | May 05, 2023 |
1y Target Est | 62.14 |
In this article, we discuss 12 cheap dividend stocks with high yields. You can skip our detailed analysis of value stocks and their past performance, and go directly to read 5 Cheap Dividend Stocks With High Yields. The Importance of Investing in Undervalued/Cheap Stocks Investing in value stocks is one of the most popular methods to […]
Here is your Pro Recap of 4 head-turning deal dispatches you may have missed this week: potential block of Horizon/Amgen transaction, merger deals at Magellan Midstream/Oneok and Urstadt Biddle/Regency Centers, and New Relic’s potential $5B acquisition. InvestingPro subscribers got this news before anyone else. Horizon Therapeutics (NASDAQ:HZNP) shares plunged more than 14% on Tuesday after the report that the U.S. Federal Trade Commission (FTC) is expected to introduce a lawsuit to block the proposed $27.8 billion merger with Amgen (NASDAQ:AMGN).
Shares of Magellan Midstream Partners (NYSE: MMP) shot up this week, trading 13% higher as of noon Friday, according to data provided by S&P Global Market Intelligence. Ironically, several analysts downgraded the midstream energy stock over the past few days, but investors had a valid reason to rejoice. Earlier in May, Magellan Midstream reported solid 18% year-over-year growth in its distributable cash flow (DCF) and a whopping 65% growth in net income for the first quarter.
Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that Aaron Milford, chief executive officer, is scheduled to participate in a question and answer session about Magellan at the 20th Annual CEO & Investor Conference hosted by the Energy Infrastructure Council at 8:20 a.m. Eastern on Tuesday, May 23 in West Palm Beach, Florida.
Magellan (MMP) and ONEOK join forces to create a midstream giant with a net enterprise value of $60.0 billion.
Here is your Pro Recap of the biggest analyst cut you may have missed since yesterday: downgrades for Nu, Futu, Magellan Midstream, and Intercept Pharmaceuticals. Citi downgraded digital banking platform Nu (NYSE:NU) to Neutral from Buy and cut its price target to $6.10 from $7.00, as reported in real time on InvestingPro. Futu (NASDAQ:FUTU) shares fell around 2% pre-market today after the company received downgrades from JPMorgan and Morgan Stanley following the announcement that the company is removing its app from China’s onshore app stores.
ONEOK (OKE) signs a merger agreement with Magellan. This pact will open up Magellan's refined products and crude oil transportation business to ONEOK.
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ONEOK's acquisition of Magellan Midstream Partners might lead to more deals in the midstream space.
Magellan (MMP) projects free cash flow of $1.1 billion and net income per unit of $4.95 for 2023. It also expects refined product rates to increase 11% on Jul 1, 2023.
People with units of the pipeline operator will be fully taxed on the entire cash-and-stock deal, so much of their gains will go to Uncle Sam.
Pipeline companies ONEOK (NYSE: OKE) and Magellan Midstream Partners (NYSE: MMP) are merging to create a $60 billion energy infrastructure giant. The transformative transaction will form a much more diversified energy midstream company. The deal also has significant financial and tax benefits, enhancing the combined company's ability to support a high-yielding dividend.
My colleagues reported over the weekend that European leaders want to ban Russian gas imports on routes where Moscow has cut supplies, which would escalate the energy war. If enacted, the move would put a significant barrier up for any potential energy rapprochement down the road. In today’s newsletter, I look at a big pipeline deal between Oneok and Magellan Midstream, and what it says about the profound shift under way in the American energy landscape.
Oneok will be buying Magellan Midstream Partners in a cash-and-stock deal with a value of about $18.8 billion including debt, Sarepta stock surged after a FDA panel recommended approval of a gene therapy for muscular dystrophy, and SoFi stock was downgraded.
The S&P 500 and the Dow ended with modest gains on Monday after manufacturing data raised concerns about a slowing U.S. economy that could help bring down inflation amid ongoing debt ceiling negotiations, while a rise in Meta shares helped lift the Nasdaq. "This is always tough because we are in a period now where bad news is actually good news from a stocks standpoint and vice versa, but you still get the market reacting when you get a bad number because everybody then begins to worry about a recession," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.
Natural gas pipeline operator ONEOK agreed to buy Magellan Midstream Partners, L.P. for $18.8 billion.
The S&P 500 and the Dow ended with modest gains on Monday after manufacturing data raised concerns about a slowing U.S. economy amid ongoing debt ceiling negotiations, while a rise in Meta shares helped lift the Nasdaq. "This is always tough because we are in a period now where bad news is actually good news from a stocks standpoint and vice versa, but you still get the market reacting when you get a bad number because everybody then begins to worry about a recession," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.
The S&P 500 and the Dow held near the unchanged mark on Monday after manufacturing data raised concerns about a slowing U.S. economy in the face of debt ceiling negotiations, although gains in Meta shares helped lift the Nasdaq. "This is always tough because we are in a period now where bad news is actually good news from a stocks standpoint and vice versa, but you still get the market reacting when you get a bad number because everybody then begins to worry about a recession," said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.
-Shares of gas pipeline operator ONEOK Inc fell about 9% on Monday on questions about potential synergies from its deal to acquire oil pipeline operator Magellan Midstream Partners. ONEOK on Sunday said it would pay $18.8 billion in cash and stock for Magellan to diversify its natural gas and gas-liquids transportation business into oil and oil products. The businesses are quite distinct and the potential value from the deal depends heavily on the impact on ONEOK's future tax liabilities, analysts said.
Analysts expected energy company Oneok to make a big deal. The company on Sunday [announced](https://www.wsj.com/articles/14-billion-deal-to-create-mega-pipeline-company-42d279d6?mod=markets_featst_pos1) that it agreed to merge with Magellan Midstream Partners in a deal that would create the second biggest midstream operator in the U.S. with a market value of $40 billion. Investors aren’t sold on the deal; Oneok's stock was down as much as 9.9% late Monday morning.
The S&P 500 and the Dow were subdued in choppy trading on Monday after manufacturing data amplified worries of an economic slowdown, while gains in the shares of Meta boosted the Nasdaq. "What you're seeing is an indication that people are a little worried about the strength of the economy, perhaps going into a recession earlier than maybe expected," said Robert Pavlik, senior portfolio manager at Dakota Wealth.
Oneok will be buying Magellan Midstream Partners in a cash-and-stock deal with a value of about $18.8 billion including debt, Sarepta stock surges after a FDA panel recommends approval of a gene therapy for muscular dystrophy, and SoFi stock is downgraded.
Oneok will acquire Magellan Midstream, but investors in only one oil and gas stock are positive about the deal.
Traders are skeptical of pipeline operator Oneok's roughly $14 billion [deal](https://www.wsj.com/articles/14-billion-deal-to-create-mega-pipeline-company-42d279d6) to buy smaller rival Magellan and create the second-largest U.