Good morning K, Re: "In my opinion, EPD is a buy and hold. And, while we wait for policy makers to wake up to the need for a multi-pronged energy approach, we get paid a dividend that is tax free. As a retired senior, that additional income is worth its weight in gold."
Thanks for the summary and I agree with your final comments, too. I am a buy and manage investor in EPD rather than B/H. My activity hasn't been very often, but I like to add to the position when the opportunity arises and will then shed a few shares when they are more richly priced. I keep a variable cash buffer most of the time. It's currently around 20% of the total position and is max'd out. At least now that cash is starting to pay some minor yield. The activity is a way to average down in share price and average up in yield.
My last buy was a 12% addition back in Sept of 2020 at $16.79. My latest sale was for 10% of the position back in late May of this year at $27.70. That's a reasonable LIFO gain and covers the missed dividend for a while. To buy an additional 12% more shares the price will have to dip below $22.66 and to liberate another 10% of the position would require a rise to $30.77/share. It's a pretty fat Hold Zone, but has worked well for me since EPD joined my retirement account in 2018 at $26.25. The yield helps cover part of the RMD I now have to take at my age.
Through this minor trading around the core I've managed to increase the share count by over 15% and the cash reserve is also "up" over 15% since starting. That's exclusive of cumulative dividends.
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