The new year has started with a lot of bargains out there for long term investor. With the market in early turmoil and panic, it has create some early entry points for a lot of dividend growth stocks. So it was a no brainier that I use some of my additional fund to start a position in a beaten down stock with a lot of upside and some risk due to oil turmoil.
The saying when there is blood on the street, it's time to buy resonate with this purchase. I had own this stock when it was on up 30's and now at low end of 20's it's an easy bargain not to be passed on. After add to CVX the last few weeks it was time to look at other value stock while there is blood on the street.
So on January 26, 2016 I purchase Oneok, Inc (OKE) 2.95 shares @24.08 3.95 Fee total $75.00 Dividend .615
*ONEOK, Inc. is the general partner of ONEOK Partners, L.P. (NYSE: OKS), which owns and operates one of the nation’s premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid- Continent, Permian and Rocky Mountain regions with key market centers and is a leader in the gathering, processing, storage and transportation of natural gas in the U.S. OKE has been paying dividend since 1972 and more importantly has raise dividend the last 12 years in a row. OKE owns 36000 miles of NGL and gas pipeline And the business is invested in the following concentration:
- They are an Integrated midstream assets with a fee-based business model
- Supply and market diversification - strategic assets located in growing NGL-rich plays and well positioned in major market areas
- Volume growth from supply and market-driven organic growth projects, and strategic acquisitions
- Investment-grade master limited partnership with a strong balance sheet
OKE is the 14th stock for Dividend Pursuit Sharebuilder tax account. My Dividend pursuit fund that will one day pay my day to day expenses and more.
What do you think of OKE? Is there a value to be had here? What are you buying?
Thanks for reading
Disclaimer: Long on OKE, CVX
Disclaimer: I’m not a licensed investment advisor and not an investment professional. This site is only meant for educational or entertainment purposes only. I’m not liable for any losses suffered as a result. Please consult with an investment or tax professional before investing any of your money.
*information obtain from www.Oneok.com investors page