BofA Securities analyst Daniel Lungo maintains $ONEOK Inc (OKE.US)$ with a buy rating, and sets the target price at $105.
According to TipRanks data, the analyst has a success rate of 100.0% and a total average return of 15.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ONEOK Inc (OKE.US)$'s main analysts recently are as follows:
Oneok is positioned to benefit from NGL growth in the Bakken, which is anticipated to surpass volume growth. The company has demonstrated strong execution capabilities with its MMP merger, capturing synergies effectively. There is potential for further upside if it can replicate this success with its dealings involving Enlink/Medallion.
The firm has adjusted its expectations on Oneok to account for changes in commodity prices, potential impacts from hurricanes, and a decrease in dry gas production. Most companies are anticipated to uphold their 2024 outlooks. For Oneok, there is speculation that an increase in the 2024 guidance might be announced this quarter, serving as a positive trigger. Additionally, further understanding of synergies arising from recent acquisitions offers another potential boost for the quarter.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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