Oneok initiated with a Hold at Truist

Truist initiated coverage of Oneok (OKE) with a Hold rating and $91 price target The firm believes Oneok stands out as a large cap, citing the company’s assets across natural gas liquids, gas pipelines, crude and refined products with a focus on the Bakken and Mid-Con, while also expanding into the Permian and Haynesville through M&A. Despite the outlook for liquids being more bearish than gas, Truist sees value in “the breadth of its service offering and line-of-sight to downstream exports.”