He also likes pipeline operators like Oneok, Enterprise Products and Buckeye, which are gobbling up superb assets that were often built by large oil companies and utilities.
Despite an expected dip in profit, analysts are generally optimistic about ONEOK (OKE) as it prepares to reports its fourth quarter earnings on Monday, February 25, 2013.
Should there be additional selling in the rest of the sector, traders should be alert to the potential for profit-taking in a high-flying utility stock such as Oneok.
Analysts are projecting ONEOK to come in with earnings of 45 cents per share, down 16.7% from a year ago when it reported earnings of 54 cents per share.