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Fly News Breaks for June 5, 2019
OKE
Jun 5, 2019 | 16:59 EDT
MUFG analyst Barrett Blaschke initiated Oneok with a Neutral rating and a price target of $74. The analyst says the company's 90% component of earnings coming from fee-based activities should make its ongoing cash flows more stable. Blaschke also cites Oneok's "substantial assets in multiple basins" that include "the Permian, Williston and SCOOP and STACK plays", with further expansions anticipated at Mont Belvieu said to add 250 BMOE/d through Q1 of FY21, saying the company's presence in the "top, liquids-rich basins" is a positive for the NGL value chain.
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