05:40 PM EDT, 08/04/2025 (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 a small Q2 earnings beat (ex-transaction costs) of EPS of $1.37 vs. $1.41, exceeding consensus by $0.03. Adjusted EBITDA rose 22% to $1.98B, though M&A transactions contributed $448M in incremental EBITDA while we estimate organic results were flattish to slightly lower across various segments. Strategic bolt-on acquisitions continued in Q3 with OKE increasing its BridgeTex Pipeline stake to 60% from 30%, helping move crude oil from the Permian Basin to the Houston market. OKE declared a quarterly dividend of $1.03 per share, or $4.12 on an annualized basis. We believe BridgeTex will be well contracted given how much existing takeaway capacity is already strained, which bodes well for demand through at least 2H '25, though we note the midstream industry is building out more such capacity in '26. In our view, the dividend looks well supported in '26 with the payout ratio dropping from more than 75% in '25 to just 65% in '26 relative to consensus expectations.