Valued at a market cap of $55.7 billion, ONEOK, Inc. (OKE) is a prominent midstream energy infrastructure company that transports, processes, stores, and distributes natural gas, natural gas liquids (NGLs), refined products, and crude oil. Headquartered in Tulsa, Oklahoma, the company operates one of the largest integrated energy pipeline systems in the United States.
This energy company has considerably underperformed the broader market over the past 52 weeks. Shares of OKE have soared 2.6% over this time frame, while the broader S&P 500 Index ($SPX) has gained 26.5%. However, on a YTD basis, the stock is up 20.8%, compared to SPX’s 8.8% return.
