Top Five Mid-Cap Companies

Each weekday, TheStreet.com Ratings compiles a list of the top five stocks in five categories -- fast-growth, all-around value, large-cap, mid-cap and small-cap -- and publishes these lists in the Ratings section of our Web site.

This list, updated daily, is based on data from the close of the previous trading session. Today, mid-cap stocks are in the spotlight. These are stocks of companies that have market capitalizations of between $500 million and $10 billion that rank near the top of all stocks rated by our proprietary quantitative model, which looks at more than 60 factors.

The stocks must also be followed by at least one financial analyst who posts estimates on the Institutional Brokers' Estimate System. They are ordered by their potential to appreciate.

Note that no provision is made for off-balance-sheet assets such as unrealized appreciation/depreciation of investments, market value of real estate or contingent liabilities that might affect book value. This could be material for some companies with large underfunded pension plans.

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First up is Oneok Partners(OKS Quote - Cramer on OKS - Stock Picks), which has maintained a buy rating since February 2006. The company is benefiting from acquisitions and expansion, including a recent contract to build a $120 million pipeline that would carry as much as 100,000 barrels of raw natural gas liquids daily from southwest Wyoming to northwestern Colorado. Oneok has increased its dividend for each of the last 10 years, and its strong cash flow position and an improving total debt-to-equity ratio should help it to maintain this trend.

The company's annual dividend yield is very attractive at the current price level. Oil prices have risen in the past two years, and that might lead to an increase in demand for alternatives. This could prove a risk to Oneok's buy rating. Also, the pipeline business is capital-intensive, and any unexpected rise in interest rates may prove to be a drag on profits, as Oneok has raised debt to fund its aggressive expansion plans.

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