With a market cap of $42.7 billion, ONEOK, Inc. (OKE) is a leading U.S. midstream service provider offering gathering, processing, transportation, storage, and export services for natural gas, natural gas liquids (NGLs), refined products, and crude oil. The company operates through four segments: Natural Gas Gathering and Processing; Natural Gas Liquids; Natural Gas Pipelines; and Refined Products and Crude.
Shares of the Tulsa, Oklahoma-based company have underperformed the broader market over the past 52 weeks. OKE stock has declined 36.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 13.6%. Moreover, shares of ONEOK are down 31.4% on a YTD basis, compared to SPX's 15.9% gain.
