Michael Blum, an analyst from Wells Fargo, maintained the Hold rating on Oneok. The associated price target is $93.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Michael Blum has given his Hold rating due to a combination of factors including Oneok’s recent financial performance and strategic decisions. The company’s second-quarter results were aligned with expectations, showing an adjusted EBITDA that matched consensus estimates, which suggests stable financial health but not a significant outperformance to warrant a more bullish rating.
Additionally, Oneok’s acquisition of an additional 30% interest in the BridgeTex pipeline, increasing its ownership to 60%, was noted, but the lack of disclosed terms and the governance structure imply that this may not immediately enhance EBITDA figures. Furthermore, Oneok’s decision to maintain its 2025 financial guidance, with EBITDA projections slightly above consensus but in line with internal estimates, indicates a steady but not exceptional growth outlook. These elements collectively support a Hold rating, reflecting a balanced view of potential risks and rewards.
In another report released on July 31, RBC Capital also maintained a Hold rating on the stock with a $94.00 price target.
OKE’s price has also changed moderately for the past six months – from $97.020 to $79.830, which is a -17.72% drop .