My first transfer came over from my paycheck today, about a week later. I'm not sure if the July 4th holiday slowed this down or not. I guess I'll find out in 2 weeks.
I've taken to assessing my income and where it is going. While I do this often, I'd like to increase what I put into my brokerage account. This same desire pushed me to work 110 hours the past 2 weeks. This should help pay down some small debt which had crept up.
I had been researching SO and ABBV to add to my list. Both are attractive, but SO would be my THIRD electric utility, and my 4th utility in general. I had intended to buy ABBV, which would be my third in the healthcare sector, so on that score they were pretty even (and not very diverse for my portfolio). Like I said they were both attractive enough for me to consider them over everything else in my watchlist.
My funds came in this morning, and with the jobs news positive, I was ready to buy at the bell before the run-up. I took a look at both, and as I could purchase more shares of SO and add almost $28 to my annual divvy income, I pulled the trigger on that one. Well, there was no run-up today. In fact, the only stock of mine in the green was little ZN, about 200% up from when I bought it. It still isn't much money, so I'll hang onto it to see if they strike oil.
SO thankfully remained flat for the day. The other reason I liked SO was that it's yield, while a bit high at 4.89%, helped bring my portfolio average over 3%. I want to maintain being over, but not too much over, that yield target. I think the price drop of many of my shares also drove the yield up a bit as well. I don't think we will get much more gain in the market for a while until we get some positive news on the healthcare repeal and the tax cuts.
SO - Southern Co. - Utilities: Electric - 12 shares
Cost Basis: $575.6
Cost/Share: $47.97
Closing Price: $47.40
Market Value: $568.8
Weight: 2.91%
Div/Share: 0.58
Yield: 4.89%
Annual Div Est: $27.84
YOC: 4.84%
Beta: 0.12
P/E: 17.62
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