Tag: energy
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AI Deep Dive: ONEOK (OKE) post-acquisitions effect on the dividend
I used Google’s NotebookLM to create a short deep dive look into ONEOK’s post-acquisition of EnLink Midstream and investment into Medallion Midstream. The tool does a good job of explaining the ins and outs and how it effects the company’s dividend. The deep dive audio is based on the text below and from other news…
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ONEOK acquisitions strengthen portfolio
ONEOK, a Tulsa-based pipeline operator, is reinforcing its presence in the U.S. energy infrastructure sector through two midstream acquisitions worth $5.9 billion, expanding its footprint in the Permian Basin. These acquisitions, along with its 2023 purchase of Magellan Midstream Partners for $18.8 billion, significantly increase its crude oil and refined products capacity. While this expansion…
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TC Energy to spin off oil pipeline in October
TC Energy is spinning off its liquids pipelines business, South Bow, on October 1, 2024, to focus on its core strengths in natural gas and power generation. Shareholders will retain their TC Energy shares and receive proportional shares in South Bow, with combined dividends expected to match or exceed pre-spin payouts. Post-spin, TC Energy will…
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Chevron (CVX) to leave California for Texas after 140 years
The Wall Street Journal is reporting that Chevron is leaving California for greener pastures in Texas. It seems the anti-business and anti-fossil fuel climate in the Golden State has finally taken its toll on the oil giant. As a result the company will write down $4 billion in assets in California citing the regulatory challenges…
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Energy Transfer LP (ET) increases dividend by 0.79%
Energy Transfer LP (NYSE: ET) today announced an increase in its quarterly cash distribution to $0.32 per Energy Transfer common unit ($1.28 on an annualized basis) for the second quarter ended June 30, 2024. This cash distribution per Energy Transfer common unit will be paid on August 19, 2024 to unitholders of record as of the close of business on August 9, 2024, and…
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Enterprise Products Partners (EPD) increase its dividend by 1.9%, its 25th consecutive annual increase
Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) announced today that the board of directors of its general partner declared a quarterly cash distribution to be paid to Enterprise common unitholders with respect to the second quarter of 2024 of $0.525 per unit, or $2.10 per unit on an annualized basis. The quarterly distribution will be paid Wednesday, August 14, 2024, to…