As part of my commitment to keep my readers up to date on my portfolio, I write up short posts describing my transactions. Recently, I purchased 26 shares of ONEOK Inc (OKE).
These 26 shares have a total cost basis of $1,115.40, which works out to about $42.90 per share. I feel that this is a fair value, especially given currently overvalued nature of the market. OKE’s current forward dividend is $1.44 per share. So this amounts to a 3.36% starting yield. This purchase will increase my dividend stream by $37.44 per year. The starting yield is about on par with what I would like to see, and I feel that this company is overall fair valued.
I’m not planning another purchase until maybe mid August sometime, since that is when I’m expecting to get a new influx of capital.
Disclosure: I am long OKE.
Readers: What do you think of this purchase?