ONEOK (OKE) Stock May Be 46% Undervalued Following Debt Tender Pricing

ONEOK has delivered a strong multi year run for investors, which naturally raises a question. Does the current share price line up with the cash flows the business is expected to generate? Over the past 5 years the stock has gained 132.8%, so a lot of future cash generation is already being treated as valuable by the market. ONEOK has announced pricing terms for cash tender offers of up to US$2b of debt securities, which can reshape interest costs and the timing of future cash available to...