ONEOK Inc. (OKE) valuation update - Oct 30

[dan_s]

I have posted my updated forecast/valuation model for OKE to the EPG website. I have lowered my valuation by $1 to $97/share.

I need to spend more time on this one and my valuation might be going higher. I need to get a better understanding of how the Medallion Midstream acquisition will impact their future operating cash flow. Based on TipRanks' updated CFPS forecast for 2025, a valuation of $100/share is justified.

Robert Kad at Morgan Stanley updated his model this morning. He rates OKE a BUY with a price target of $111 per share.

ONEOK is a rock-solid midstream company. The current dividend of $0.99/Qtr is more than covered by DCF.