Oneok has simplified its corporate structure.
Narrow-moat Oneok reported a strong fourth quarter and looks very well positioned to take advantage of a healthy natural gas liquids environment. We don’t expect a material change to our $65 fair value estimate as we incorporate the recent equity raise, new project announcements, and 2018 guidance. Alongside peer Enterprise Products Partners, Oneok remains one of our favorite and undervalued ways to play the attractive growth in U.S. NGL volumes over the next few years.Oneok looks to cash in on...
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