06:05 PM EDT, 10/28/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

OKE delivered Q3 EPS of $1.49 vs. $1.18, beating consensus by $0.04, while adjusted EBITDA of $2.1B vs. $1.5B grew 37%, driven by the Enlink and Medallion acquisitions. Natural Gas Gathering & Processing segment EBITDA surged 78% to $566M, while Refined Products and Crude rose 32% to $582M, with NGL and Natural Gas Pipeline segments each up 20%. The Gulf Coast remains a key growth catalyst, in our view, with demand growth ahead for NGL exports and fractionation services. OKE maintained its 2025 guidance intact. Operating cash flow of $4.1B for nine months (+24%) versus $2.2B capex (+50%) generated $1.9B excess, largely absorbed by the $1.03 quarterly dividend. We think OKE faces two years of elevated capex, but discretionary free cash flow should step-change higher longer-term as completed projects require lower maintenance spending. The balance sheet bears watching as total debt rose to $32.0B, making integration success critical for maintaining appropriate leverage metrics.