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Fly News Breaks for August 6, 2019
OKE
Aug 6, 2019 | 08:39 EDT
Argus analyst Bill Selesky raised his price target on Oneok to $82 and kept his Buy rating after its "solid" Q2 earnings beat driven by strong volume growth in natural gas liquids and natural gas along with higher average fee rates for NGL and natural gas gathering and processing. The analyst says the company continues to restructure its lower-margin legacy contracts with efforts to generate new business under a fee-based system, leading to earnings that are less vulnerable to changes in volume and pricing.
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