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Strategies & Market Trends : Dividend investing for retirement

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To: Bocor who wrote (9654)	7/31/2011 12:54:45 PM
From: E_K_S	1 Recommendation of 34328

Penn West Petroleum Ltd (NYSE: PWE) Enerplus Corporation Common Sto(NYSE: ERF) finance.yahoo.com Have you looked at ERF? They still pay their distributions monthly. Both of these companies were in my top 10 holdings but recently I have been pairing down my PWE and deploying those funds into more ERF, COP & E&P preferreds: MHRpD and GSTpA. The problem I had with PWE is they have not been building up their reserves as fast as in the past where ERF has. This is not a positive for the company building value over the long term. By putting the proceeds into ERF and COP, their reserves continue to grow and by adding a few of the preferrds I can get the monthly distribution I need for the portfolio. ERF also has more "oily" properties so I feel they will not be as impacted by the low Natural Gas prices due to the recent glut in NG production in U.S. shale fields. Provident Energy Ltd. Ordinary(NYSE: PVX) is one I have added to recently (any price below $8.00/share). They have a NG Midstream operation which serves both NW Canada and the U.S.. ( providentenergy.com ) Their NG gathering, storage operations and processing (liquids) plant(s) generate good cash flow. They have been selling off their NG & Oil assets to focus on their pipeline operations. In 2010 the company formed Pace Oil & Gas Ltd. with their remaining oil & gas assets and spun it off to unit holders. As a result, they have paired down their large debt and have created a premiere "pure" Midstream company. You can also have your shares reinvested through the company's dividend reinvestment program and receive a 5% discount on all purchases. This then becomes a pretty compelling company to own in an IRA. No Foreign Tax withheld and a 5% discount on all distributions reinvested. My last buy in PVX was on 12/7/2010 for $7.89/share. I missed the recent opportunity to add shares in June 2011 this year when the stocked dropped below $8.00/share. The stock is up 23% from that low ( less than 50 days). On any correction, this is one I plan to add. EKS

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