Spekulatius, I am watching both companies also. And I agree with your assessment.
ENE (now at $19.79/sh). I calculate fair value at best about $28/sh. That's IF they can ever get their ROE to where it was back in '95-'96 and if we don't see increased interest rates from here.
I've worked with people who were previously employed at ENE, and they've told me ENE is one Very Tough place. Enron people are very lean/mean competitors, and their trading desk takes no prisoners, I'm told. This company will once again get institutional interest imo, and the stock might very well be a good investment 12-18 months out. Maybe. For now, I waiver in what to do.
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I've recently been going through my pharmaceutical stocks - taking profits in ones I guess are fully-valued and trying to find ones that are relatively undervalued. PHA is a potential buy for me, and it's on my watch list.
Based on your post about PHA, I went to my files just to recap what I've done with large-cap pharmaceuticals and to see where I stand:
BMY: holding (some additional shares purchased/sold in short term trading attempt)
ELN: holding
MRK: sold some and bought some back. (Added to position at higher price than current price.)
NVS: holding (starter position)
AKZOY: holding; recent purchase (Co. has pharma. component)
KNBWY: holding; recent exploratory purchase only (Co. has pharma. component)(Purchased at higher price than current.)
SGP: recent new buy
AHP: took profits, exited position (last year)
AVE: took profits, exited position (last year)
PFE: took profits, exited position (last year)
ABT: continuing to take profits, position mostly gone
BAX: (not usually classified as a pharma. co.) taking profits now
CHIR: (not really a pharma. co.) took profits, exited position.
PHA: Watch list
RHHBY: (Mentioned by Spekulatius.) I spot check it occasionally. Stock maybe (?) should be looked at more closely now given its current price.
Paul Senior |
