Bought Duncan Energy Partners
April 16th, 2007 by Grant in: InvestingLast Friday I bought 20 shares of Duncan Energy Partners (DEP: chart) at $26.69.
Today, DEP set their initial quarterly cash distribution at $0.40 per share, which works out to just under 6% on the year. However, I expect the distribution, as well as the price to continue to rise.
On this news, I bought 30 more shares in the Roth. The fact that they set a distribution takes away some of the risk in the stock that has less than a years worth of history. Even if the price falls a bit, I’m still getting the distribution.
I’ll continue to watch the stock, and will continue to add to the position in small increments. The fundamentals of the company are quite similar to those of Calumet Specialty Products (CLMT: chart).
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April 17th, 2007 at 2:55 pm
I really like energy stocks in general. I know that sounds like a meaningless generalization, but the whole industry just fascinates me.
April 17th, 2007 at 9:58 pm
It’s a good industry to be in, at least right now. Until we come up with a realistic alternative energy source (meaning Hydrogen), look for oil prices to continue upward until something drastic happens…
I foresee an economy or two breaking like a twig due to petroleum.
October 21st, 2007 at 11:13 am
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