ONEOK Inc. has had notable developments in its investment activities. Its stock outshone competitors on a robust trading day, however, it also registered a larger fall than the overall market. ONEOK's third quarter 2024 earnings missed expectations, despite setting record volumes. The firm's acquisitions, in particular the closing of the Medallion Midstream Acquisition, have paid off, positively impacting earnings. Their strategic placements have sparked comments from investment authorities like Jim Cramer who called ONEOK 'terrific' and 'sensational'. Wells Fargo and Truist Financial have raised ONEOK's price target to $107 and $99, respectively. Despite concerns over missed revenue estimates and falling 19% short from analysts' forecasts, ONEOK has proceeded to raise its 2024 guidance. In the face of challenges and risks integrating EnLink and Medallion, ONEOK has reported improved Q3 2024 financial performance and increased its earnings guidance. Additionally, the company is looking to solidify their Permian presence through midstream deals.
Oneok OKE News Analytics from Tue, 11 Jun 2024 07:00:00 GMT to Sat, 02 Nov 2024 12:12:46 GMT -
Rating 3
- Innovation 5
- Information 5
- Rumor 1
