What are the downsides of OKE as a medium term investment?

Hi, I have been studying OKE and I feel it is a good stock to invest in. It is the largest midstream player in US for natural gas liquids and since this field is highly regulated and capital intensive it has a moat. Also despite being 30% above from its recent low I think its valuation is justifiable. On top of that it offers a 5% dividend yield which provides a good cushion for long term investment. But despite these positive points I would want to understand what are the risk in investing my money in this company. One factor might be its recent momentum, it has already gone up significantly so some people might find it overvalued. Can you pick up or know some other factors at play here because of which this might be a bad investment? Thinking of investing in Chevron as well. It is growing significantly because of the capture of Maduro. The risk for me are the same here as well. It has gone up significantly while I was waiting for a pullback. I am ready for any opinions except "ask chatgpt". Thanks a lot for taking your time