In the current session, ONEOK Inc. (NYSE:OKE) is trading at $79.42, after a 1.56% decrease. Over the past month, the stock fell by 2.85%, and in the past year, by 0.15%. With performance like this, long-term shareholders are more likely to start looking into the company's price-to-earnings ratio.

Comparing ONEOK P/E Against Its Peers

The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued.

Compared to the aggregate P/E ratio of the 76.87 in the Oil, Gas & Consumable Fuels industry, ONEOK Inc. has a lower P/E ratio of 15.76. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued.