11:29 AM EST, 12/03/2024 (MT Newswires) -- (Updated to include Truist's commentary)

Truist Securities raised ONEOK ( OKE ) price target to $107 from $99 while maintaining a hold rating as it recently announced an agreement to acquire all outstanding public EnLink (ENLC) units for $4.3 billion.

The company had previously indicated its intention to make the acquisition, though the timing had been uncertain.

The brokerage predicts slight accretion in 2025, with more significant gains in 2026 as the complementary assets are fully integrated, enhancing the company's Permian Basin platform, analysts led by Neal Dingmann wrote in a Tuesday note.

ONEOK ( OKE ) has an average rating of overweight and mean price target of $112.15, according to analysts polled by FactSet.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 110.30, Change: -0.14, Percent Change: -0.13