Freedom Broker Turns Cautious on ONEOK (OKE) Despite Higher Price Target

On May 6, Freedom Broker downgraded ONEOK, Inc. (NYSE:OKE) to Hold from Buy. It raised the terms people connected the banal to $102 from $100. The steadfast described the company’s Q1 study arsenic mixed and said the downgrade was tied to valuation concerns.

On May 4, Truist expert Gabe Daoud raised the firm’s terms proposal connected OKE to $93 from $91. The expert reiterated a Hold standing connected the stock. The update came arsenic portion of a broader probe enactment covering midstream vigor companies aft Q1 earnings. The expert said the 4th benefited from dispersed optimization, which helped thrust stronger fiscal results and guidance increases. Still, the outlook up appears little definite due to the fact that of commodity terms volatility, existing hedges, and expectations that Waha/Katy/HSC spreads could constrictive arsenic 4.6Bcf/d of Permian egress capableness is expected to travel online. The expert shared those views successful a probe enactment to investors.

ONEOK, Inc. (NYSE:OKE) operates successful the midstream vigor assemblage and provides gathering, processing, fractionation, transportation, storage, and marine export services. Its concern segments see Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.

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