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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (51845)6/18/2015 9:19:25 PM
From: Spekulatius  Read Replies (2) of 78685
 
Bought some OKE at $39, yielding in excess of 6% now. This is now a pure GP/MLP hybrid pipeline NGL infrastructure play. The market is concerned about OKS (the MLP that is driving OKE's results) not covering it's distribution. This is due to lower earnings depressing OKS NGL processing margins. My thought is that OKE may be cheap even though the dividend could be cut and is very cheap if it isn't. I like the company had the GP business model and I think eventually that this will recover, especially if crude prices recover. This may be a better crude recovery play than E&P's since it pays a nice dividend and they have proven to be good capital allocator so over the years unlike. Most E&P.

FWIW, I did buy some APA as well at $57.7 because I like what the new CEO is doing.
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