14 Low PE High Dividend Stocks to Buy Right Now

4. ONEOK, Inc. (NYSE:OKE)

Dividend Yield as of March 10: 4.99%

Forward P/E Ratio: 15.38

On March 6, Barclays analyst Theresa Chen raised the firm’s price recommendation on ONEOK, Inc. (NYSE:OKE) to $82 from $76 and maintained an Equal Weight rating on the shares after meeting with management. The analyst said Oneok’s “diversified footprint and significant operating leverage position the company to capture upside from incremental gas demand across lower-tier basins over time,” according to a research note shared with investors.

During the company’s Q4 2025 earnings call, President and CEO Pierce Norton described 2025 as a pivotal year for ONEOK. He pointed to a 12% increase in net income attributable to the company, which reached $3.39 billion. Adjusted EBITDA also grew, rising 18% to $8.02 billion. Norton also discussed the progress following the acquisition of Magellan Midstream Partners. He said the company has generated nearly $500 million in total synergies so far, including $250 million realized during 2025.

Looking ahead, he noted that the company’s 2026 adjusted EBITDA midpoint forecast of $8.1 billion is expected to be supported by higher volumes, projects that are already completed or nearing completion, and another $150 million in acquisition-related synergies. Norton also highlighted the strength of ONEOK’s earnings profile. About 90% of the company’s earnings are fee-based, he said.

According to Norton, that structure helps limit exposure to commodity price swings and supports the stability of the company’s valuation. He also outlined ONEOK’s broader strategy, which centers on scale, integration, and stable fee-based revenue. Norton added that the company sees long-term growth potential in the Bakken Formation. Roughly 5,000 wells remain to be drilled on dedicated acreage in the region.

ONEOK, Inc. (NYSE:OKE) is a midstream operator that provides gathering, processing, fractionation, transportation, storage, and marine export services. The company operates through several segments, including Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.