| | | | And it’s paid out a steady dividend the whole time, currently at 5.6%!
In today’s economy, energy is under more pressure than any other time in modern history with the push for reduction of carbon and other renewable energy focuses. I am in the camp that this transition will take significantly longer than even the more conservative estimates.
We’ve already seen a continuous streak of “false starts” as regulation tries to overreach in these goals like just last year when California passed the initiative requiring ALL cars to be electric by the year 2035 and just one week later asked electric vehicle owners to stop charging their cars!
I suspect, as this push continues, it will make slow progress and we will eventually have a much more “electric” world.
But I also believe this push will enforce the need for our current energy sources along the way. And each time that demand is felt, solid energy companies should rise.
In addition, Oneok has positioned itself well with recent acquisitions and mergers so that it controls more steps in the pipeline process which can lead to more efficient profits.
Beyond this, there are two “wildcards” I think could impact OKE favorably in the near to medium term.
Wildcard #1: Oneok has performed pretty well under every kind of political environment for 70 years, but if a more conservative government takes power, we could see a very aggressive rise in energy stocks like OKE.
Wildcard #2: Inflation has been a major issue for the last 2 years and many suspect we’ve seen the heights. If, however, the economy has a “relapse” and inflation spikes again, it will be very good for the price of natural gas and OKE.
Even without the wildcard upside, I believe OKE can be a strong stock for the next decade and as long as it continues this high dividend payout, will be a great part of any portfolio.
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Nate
P.S. You can also read Lesson #5 on our website. | | | | |
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