Oneok price target raised to $89 from $84 at RBC Capital

RBC Capital raised the firm’s price target on Oneok to $89 from $84 and keeps a Sector Perform rating on the shares. Oneok’s Q2 results exceeded expectations and the company maintained its full year 2024 outlook, which could prove conservative given the current volume trajectory, the analyst tells investors in a research note. RBC expects an increase in capital return to shareholders after the September debt maturity.