Is It Time To Reassess ONEOK (OKE) After Recent Share Price Weakness

Simply Wall St.04-02

If you are wondering whether ONEOK is priced fairly or if the current share price leaves some value on the table, this breakdown will help you frame that question in a structured way. With the stock ...

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With the stock ...</p>\n\n<a href=\"https://simplywall.st/stocks/us/energy/nyse-oke/oneok/news/is-it-time-to-reassess-oneok-oke-after-recent-share-price-we\">Source Link</a>\n\n</div>\n","source":"simplywall_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is It Time To Reassess ONEOK (OKE) After Recent Share Price Weakness</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs It Time To Reassess ONEOK (OKE) After Recent Share Price Weakness\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-04-02 11:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://simplywall.st/stocks/us/energy/nyse-oke/oneok/news/is-it-time-to-reassess-oneok-oke-after-recent-share-price-we><strong>Simply Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you are wondering whether ONEOK is priced fairly or if the current share price leaves some value on the table, this breakdown will help you frame that question in a structured way. With the stock ...</p>\n\n<a href=\"https://simplywall.st/stocks/us/energy/nyse-oke/oneok/news/is-it-time-to-reassess-oneok-oke-after-recent-share-price-we\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BLSP4239.USD","symbol_name":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","start_time":0,"source_url":"https://simplywall.st/stocks/us/energy/nyse-oke/oneok/news/is-it-time-to-reassess-oneok-oke-after-recent-share-price-we","article_id":"2624819522","we_media_id":null,"thumbnails":["https://images.simplywall.st/asset/company-cover/293889-main-header/1756231453047"],"rights":{"source":"simplywall_highlight","url":"https://simplywall.st/stocks/us/energy/nyse-oke/oneok/news/is-it-time-to-reassess-oneok-oke-after-recent-share-price-we","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2624819522","pubTimestamp":1775100863,"columns":[],"sourceInfo":{"source_id":"simplywall_highlight","name":"Simply Wall St."},"weMediaInfo":null,"summary":"If you are wondering whether ONEOK is priced fairly or if the current share price leaves some value on the table, this breakdown will help you frame that question in a structured way.\nWith the stock at US$87.36, recent returns have been mixed, including a 5.2% decline over the last 7 days, a 1.4% return over 30 days, 17.5% year to date, and an 8.1% decline over the past year, set against a 54.9% and 126.6% return over 3 and 5 years respectively.\nRecent coverage has largely focused on ONEOK's...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","DCF":"Dreyfus Alcentra Global Credit Income 2024 Target Term Fund, Inc","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU1621768115.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"B\" (EUR) INC","LU0256331488.USD":"SCHRODER ISF GLOBAL ENERGY \"A\" ACC","IE00BZ18W456.USD":"BNY MELLON GLOBAL INFRASTRUCTURE INCOME \"B\" (USD) INC","BK4144":"石油与天然气的储存和运输","LU2384288077.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"A-INS\" (EUR) ACC","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","BK4585":"ETF&股票定投概念","LU1621768206.USD":"AZ EQUITY GLOBAL INFRASTRUCTURE \"AAZ\" (USD) ACC","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IE00B29SXL02.USD":"FIRST SENTIER GLOBAL LISTED INFRASTRUCTURE \"I\" (USD) INC","OKE":"欧尼克（万欧卡）","IE00B29SXK94.USD":"FIRST SENTIER GLOBAL LISTED INFRASTRUCTURE \"I\" (USD) ACC","LU1621767737.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"AAZ\" (EUR) ACC","IE00BZ18W340.USD":"BNY MELLON GLOBAL INFRASTRUCTURE INCOME \"B\" (USD) ACC","IE00BMQBXF63.USD":"BNY MELLON GLOBAL INFRASTRUCTURE INCOME \"B\" (USD) INC A","BK4588":"碎股","LU1621767810.EUR":"AZ EQUITY GLOBAL INFRASTRUCTURE \"A\" (EUR) INC"},"translate_title":"近期股价疲软后，是时候重新评估ONEOK(OKE)了吗","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DCF":1,"OKE":1.5},"content_text":"If you are wondering whether ONEOK is priced fairly or if the current share price leaves some value on the table, this breakdown will help you frame that question in a structured way. With the stock at US$87.36, recent returns have been mixed, including a 5.2% decline over the last 7 days, a 1.4% return over 30 days, 17.5% year to date, and an 8.1% decline over the past year, set against a 54.9% and 126.6% return over 3 and 5 years respectively. Recent coverage has largely focused on ONEOK's role in the US energy sector and how its position in the midstream space shapes expectations for cash flow durability and capital allocation. This context helps frame how investors are reacting to new information and how sentiment can shift even when the business model looks relatively consistent. ONEOK currently has a valuation score of 5 out of 6, which suggests most of the checks flag the shares as undervalued. The next sections will compare different valuation methods before finishing with a more holistic way to think about what the stock is really worth.  Find out why ONEOK's -8.1% return over the last year is lagging behind its peers. AdvertisementApproach 1: ONEOK Discounted Cash Flow (DCF) Analysis A Discounted Cash Flow, or DCF, model takes the cash flows a company is expected to generate in the future, then discounts them back to today to estimate what the business might be worth right now. For ONEOK, the model uses a 2 Stage Free Cash Flow to Equity approach, starting from last twelve months free cash flow of about $2.48b. Analyst estimates feed into projected free cash flow of $3.32b in 2026 and $4.00b in 2027. Further figures up to 2030 and beyond are extrapolated by Simply Wall St, reaching $5.07b in 2030. These future cash flows are discounted to present value to build a total equity value for the company. On this basis, the DCF output suggests an intrinsic value of about $183.30 per share, compared with the recent share price of $87.36. That implies a 52.3% discount to the modelled value, which indicates that ONEOK is trading well below this cash flow based estimate. Result: UNDERVALUED Our Discounted Cash Flow (DCF) analysis suggests ONEOK is undervalued by 52.3%. Track this in your watchlist or portfolio, or discover 63 more high quality undervalued stocks. OKE Discounted Cash Flow as at Apr 2026 Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for ONEOK. Approach 2: ONEOK Price vs Earnings For profitable companies, the P/E ratio is a useful way to link what you pay for each share to the earnings that support that price. It helps you judge how much of those earnings you are paying for today. What counts as a “normal” P/E depends on how the market views a company’s earnings growth potential and risk profile. Higher expected growth or lower perceived risk can justify a higher P/E, while lower growth expectations or higher risk tend to be associated with a lower P/E. ONEOK currently trades on a P/E of 16.2x. This is close to the Oil and Gas industry average P/E of 16.3x and below the peer group average of 20.0x. Simply Wall St’s Fair Ratio for ONEOK is 23.7x. This is its proprietary view of what a suitable P/E might be, given factors such as earnings growth characteristics, industry, profit margins, market cap and specific risks. The Fair Ratio is more tailored than a simple comparison with peers or the broad industry because it adjusts for company specific traits rather than assuming all businesses deserve the same multiple. Comparing 23.7x with the current 16.2x suggests the shares trade below this Fair Ratio based yardstick. Result: UNDERVALUED NYSE:OKE P/E Ratio as at Apr 2026 P/E ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 20 top founder-led companies. Upgrade Your Decision Making: Choose your ONEOK Narrative Earlier it was mentioned that there is an even better way to understand valuation. Narratives take the usual fair value, revenue, earnings and margin estimates and let you attach a clear story to them, connecting what you believe about ONEOK to a financial forecast and then to a fair value that is easy to compare with the current share price. A Narrative on Simply Wall St is your way of saying, “here is how ONEOK’s business might play out and here is the price that story supports.” The platform handles the numbers in the background so you can focus on the assumptions that matter most to you. These Narratives live inside the Community page used by millions of investors. They update automatically as new news or earnings arrive, and make it straightforward to see how often the implied Fair Value sits above or below the live price so you can judge whether it may be time to act or wait. For ONEOK, one investor might align with a higher fair value around US$108.00 that reflects assumptions closer to the optimistic case. Another might lean toward a lower fair value around US$74.00 that reflects a more cautious view, and seeing both side by side helps you decide which story and price better match your own expectations. For ONEOK, however, we will make it really easy for you with previews of two leading ONEOK Narratives: 🐂 ONEOK Bull Case Fair value in this bullish narrative: US$108.00 per share Implied discount to this fair value: 19.1% below the narrative fair value Revenue growth underpinning the story: 6.1% a year  Views ONEOK as a beneficiary of US gas and NGL demand, with integrated midstream assets and recent acquisitions supporting higher throughput and operating leverage. Builds in rising free cash flow that could support deleveraging, dividends and buybacks, using a 7.1% discount rate and a P/E of 19.0x on projected 2029 earnings. Flags energy transition, regional concentration, acquisition integration and ESG and regulatory risks as key challenges that could weaken this optimistic path.  🐻 ONEOK Bear Case Fair value in this cautious narrative: US$74.00 per share Implied premium to this fair value: 18.0% above the narrative fair value Revenue growth underpinning the story: 3.5% annual decline  Assumes slower volume growth and flattish earnings through a reset period, with higher capital spending and debt weighing on free cash flow and valuation. Builds a fair value of US$74.00 per share using an 8.0% discount rate, modest earnings growth to US$3.7b and a future P/E of 21.5x to reflect uncertainty and sector risks. Highlights long term pressure from decarbonization, regulation and limited diversification away from hydrocarbons, along with sensitivity to spreads, drilling activity and financing costs.  If those two narratives frame the bullish and cautious ends of the range, the next step is to decide which set of assumptions sits closer to your own view of ONEOK's assets, earnings path and risk tolerance, and then size any position accordingly. Do you think there's more to the story for ONEOK? Head over to our Community to see what others are saying! NYSE:OKE 1-Year Stock Price Chart  This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: AI Stock Screener & AlertsOur new AI Stock Screener scans the market every day to uncover opportunities.• Dividend Powerhouses (3%+ Yield)• Undervalued Small Caps with Insider Buying• High growth Tech and AI CompaniesOr build your own from over 50 metrics.Explore Now for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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