ONEOK (OKE) Valuation and Governance: A Closer Look at the Recent Dividend Increase and New Independent Directors

ONEOK (OKE) has approved a higher quarterly dividend and added two independent directors, boosting income policy and boardroom oversight. Despite recent share price fluctuations, the company's longer-term momentum has been stronger. ONEOK is trading at an intrinsic discount of 57.67% and a 16.17% gap to the average analyst target of $87.50. The most followed narrative for ONEOK puts fair value at $87.50, framing the recent dividend move in the context of a broader earnings and cash flow story.