On Thursday, RBC Capital Markets adjusted its worth goal on ONEOK Inc (NYSE: NYSE:) shares, growing it to $89.00 from the earlier $84.00. The agency saved the inventory’s score at Sector Carry out following the analysis of the corporate’s second-quarter monetary efficiency and up to date regulatory filings.
ONEOK’s second-quarter outcomes for 2024 surpassed analyst expectations, prompting RBC Capital Markets to revise their estimates. The corporate has additionally reaffirmed its full-year outlook for 2024, which RBC suggests could also be conservative contemplating ONEOK’s present quantity tendencies.
The agency anticipates that ONEOK will improve shareholder returns following the maturity of its debt in September. This expectation relies on the corporate’s constant execution of its strategic plans.
RBC Capital Markets has adjusted its estimates for ONEOK to align with the higher finish of the corporate’s steerage vary. This adjustment is mirrored within the newly set worth goal of $89.00.
The analyst from RBC Capital Markets famous the corporate’s sturdy efficiency and potential for elevated capital returns as key elements within the revised goal.
This text was generated with the help of AI and reviewed by an editor. For extra data see our T&C.