Truist analyst Neal Dingmann raised the firm’s price target on Oneok (OKE) to $107 from $99 and keeps a Hold rating on the shares. The company has recently announced the agreement to acquire all the outstanding public EnLink (ENLC) units for $4.3B, and the firm is forecasting slight 2025 accretion, along with higher 2026 accretion as the complementary assets become more established continuing to boost the overall integrated Permian Basin platform, the analyst tells investors in a research note. Truist adds however that the plethora of deals for Oneok provides strategic opportunities, though the time to see full benefits and the stock’s current valuation warrant a Hold rating.
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