Well I don't know if it's the exact equivalent but you can load a sound with the WaveData util class then that'll give you all the formatting options to give OpenAL.
In this example I'm just assuming you have an InputStream but there are all kinds of ways of getting a WaveData instance.
WaveData wd = WaveData.create(inputStream);
IntBuffer idBuff = BufferUtils.createIntBuffer(1);
AL10.alGenBuffers(idBuff);
int id = idBuff.get(0);
AL10.alBufferData(id, wd.format, wd.data, wd.samplerate);
wd.dispose();
Edit: Fixed error that AGP noticed.