Why ONEOK Inc Could Be a Gold Mine for Income Investors [The Motley Fool]
ONEOK PARTNERS (OKS)
Last oneok partners earnings: 5/2 04:15 pm
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Source: The Motley Fool
The midstream company is planning a big dividend boost when it closes its merger with ONEOK Partners as well as steady increases over the next several years. With a yield near 5%, ONEOK ( NYSE:OKE ) is already a compelling stock for income seekers. However, with the company set to close the acquisition of its MLP ONEOK Partners ( NYSE:OKS ) at the end of this month, it's about to become a gold mine for income investors. That's because the company plans to boost the payout 21% upon closing the ONEOK Partners transaction and deliver 9% to 11% annual dividend growth through 2021. Drilling down into the growth plan At the center of ONEOK's dividend growth plan is bringing its MLP in-house, which will give it total control of its asset base. It's a portfolio that has grown not only in size but strength over the past few years due to ONEOK Partners' focus on building and buying fee-based assets as well as converting a larger portion of its legacy natural gas pro
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