ONEOK's Premium May Be Justified By Growth
OKEONEOK(OKE) Seeking Alpha·2024-01-15 16:10

spooh ONEOK (NYSE:OKE) is set up to report a strong FY23, positioning themselves for a strong FY24 and beyond. With the acquisition of Magellan Midstream Partners, ONEOK now provides customers optionality and the ability to bundle production on their multiple pipeline systems, whether it is natural gas, NGLs, refined products, or crude oil. With a target leverage ratio of 3.5x net debt/EBITDA in 2024 along with management’s targeted aEBITDA of $6b and robust dividend yield of 5.45%, I provide OKE shares a B ...