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Top 6 Stocks to Buy for September

These stocks should weather the storms of political and economic instability

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Top Stock to Buy #4 – ONEOK (OKE)

Oklahoma-based integrated energy company ONEOK (OKE) markets, transports, stores and trades natural gas liquids. Its distribution segment is the largest gas utility in Kansas and Oklahoma and the third largest in Texas. With the spin-off of its natural gas utility business late in 2013, it will become a pure play MLP GP holding company. Its dividend should increase rapidly, and since OKE is a corporation, investors will receive a 1099 rather than the annoying K-1 that partnerships issue.

This was all stated by management in a conference call in late July, and the stock jumped from just under $43 to over $53 in one day. The spin-off is expected to be effective before the end of the year.

The weekly chart of OKE indicates that the holding company is in a bull market but trades within a 10-point range from $40 to $50. Because of the spin-off, the stock may fall back to its 50-day moving average at $48 where you should be a long-term buyer with the objective of benefiting from regular dividend increases and internal growth.

OKE Chart
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Article printed from InvestorPlace Media, http://investorplace.com/2013/09/top-stocks-to-buy-celg-d-gild-oke-rkt-snts/.

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