Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Oneok Partners Still Looking At Significant Growth Opportunities

Growth capex is one of the major trends in the energy MLP space, and ONEOK Partners, L.P. (NYSE:OKS) is no exception. Already a top player in gas gathering and processing and NGL fractionation in the Mid-Continent and Rockies, ONEOK still has over $2.5 billion of growth projects on the docket as well as up to $4 billion in unannounced projects - much of which will go towards gathering and processing the growing output of the Williston and Powder River basins.

ONEOK Partners offers good distribution coverage and double-digit cash flow growth potential, though actual distribution growth is likely to be more in the mid-to-high single digits as the general partner ONEOK Inc (NYSE:OKE) takes a sizable...

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