Tulsa, Oklahoma-based ONEOK, Inc. (OKE) is a leading midstream energy company. Valued at a market cap of $46.6 billion, the company specializes in gathering, processing, fractionation, transportation, storage, and marine export of natural gas, natural gas liquids (NGLs), crude oil, and refined petroleum products.
This energy company has considerably underperformed the broader market over the past 52 weeks. Shares of OKE have declined 13.1% over this time frame, while the broader S&P 500 Index ($SPX) has gained 20.6%. Moreover, on a YTD basis, the stock is down 26.3%, compared to SPX’s 9.6% return.
