Both S&P and M* give OKE a 5 star buy rating. I'm not sure what those ratings are worth these days. There is no question that OKE isn't a solid company. It has years of experience in all aspects natural gas. Much, however, depends on the economy. If anyone has a crystal ball please let me know.

The analyst at S&P estimates 2009 earnings of $2.67, which would be a 60% payout at the dividend rate. He estimates 2010 earnings of $2.86, which would be a 56% payout.

The average estimate of the analysts on Yahoo is earnings of $2.53 in 2009 and $2.79 in 2010. This estimate has been going down over the last few months.

Of course, the above estimates are predicated on a recovering economy and a decent price for natural gas. I think the dividend is safe but until natural gas prices turnaround, I don't think OKE will do much. I own 600 shares with an average price of 32. Can't say I'm worried. I have lots of patience. and I think it's going to take a lot of patience.

Q1 earnings will be announced at the end of April and I look forward to listening to the conference call. Anybody have any predictions?