At the time I purchased TPZ, I was looking for MLP exposure in an IRA. This was before KMI came public and I already owned KMR. There was one other company similar to KMR, I forget its name, but I wasn't comfortable with it. I didn't want to own ETN's or such, so when I came across the Tortoise Funds, I liked the high yield and the mix of MLP's and utility bonds.
I can't say that I'd recommend it for others, in fact, if I can get a decent company that matched the yield of TPZ (6.1%), and grows the dividend even a percent or two, TPZ doesn't grow the dividend, I'd swap it out, even if I had to go into another sector. I really would like to see some dividend growth.
OHI (6.2%) would meet the objective but I already own enough of that.
I have a position in ETO, yielding 7.1%, that has raised the dividend the last few years, I may look at adding some to that, and then look at adding something else. I don't know yet.
In my opinion, if you can purchase TPZ in the bottom channel of their 52 week trading range, it would make a great place to park some cash while you wait out other opportunities.
EDIT --- I just sold TPZ. ... Ha! |
