Tallgrass shareholders approve Blackstone-led buyout of pipeline operator [Reuters]
Devon Energy Corporation (DVN)
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Source: Reuters
Tallgrass shareholders approve Blackstone-led buyout of pipeline operator HOUSTON (Reuters) - Tallgrass Energy ( TGE.N ) shareholders on Thursday backed a buyout by a Blackstone-led ( BX.N ) group that valued the U.S. oil pipeline operator at $6.3 billion, a rare case of a pre-market crash deal going ahead without a price cut. Terms were struck ahead of this year’s collapse in energy prices that has U.S. oil producers cutting output and pipeline operators reducing their fees to hold onto dwindling business. About 30% of global fuel demand has been lost from business shut downs to combat the coronavirus pandemic, hitting high cost U.S. shale producers the hardest. Tallgrass shares would have dropped to $8 apiece had Blackstone walked away from the deal, estimated Ethan Bellamy, a senior equity analyst at Robert W. Baird & Co. The stock traded on Thursday morning at $22.35. The pipeline’s former owners “are getting a better deal than they otherwise would in this turmoil, but it does
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News
- Devon Energy (NYSE:DVN) had its price target raised by analysts at Raymond James Financial, Inc. from $42.00 to $44.00. They now have an "outperform" rating on the stock.MarketBeat
- Devon Energy (NYSE:DVN) had its "sell (d+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Devon Energy (NYSE:DVN) was upgraded by analysts at Argus to a "strong-buy" rating.MarketBeat
- Devon Energy (NYSE:DVN) had its "sell (d+)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat
- Devon Energy (NYSE:DVN) had its price target raised by analysts at Sanford C. Bernstein from $43.00 to $48.00. They now have an "outperform" rating on the stock.MarketBeat
DVN
Earnings
- 11/5/25 - Beat
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Sec Filings
- 11/24/25 - Form 4
- 11/6/25 - Form 10-Q
- 11/5/25 - Form 8-K
- DVN's page on the SEC website