My pick for the 20 Feb was this one and its just about to pass the $7 mark - its @ $6.94c - which it is what I said was the mark to look at selling.
Which I have yesterday with a small portion.
BUT what I didn't count on was this, the continuation of the low, low interest rates that continue to haunt the globe - I don't agree with this but that is another story for another day.
Interest rates look to be on hold or indeed downwards. What do investors need and in fact what they did do this week? They bought stock on the NZX. Not just Contact Energy but many of the other energy retailers and anything else with a financial pulse. In fact the NZX finished the quarter on an all-time high.
My guess is that they will continue to buy this stock in particular because it has a return of just over 5% and looks set for a bigger return this Aug when they will report a big one, no doubt, along with a 20c DIV.
So even though I initially said now was a time to think of selling what happened this week to interest rates for me would add another 50c or so to bring my price to $7.50.
Get out at that price if you will or continue to hold, like me AND collect the DIVS.
Invest/trade wisely!!!
CEN @ Share Investor
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c Share Investor 2019
Renewable energy shares is good for long term - more electric vehicles are hitting the road among other battery type usages. I believe that the market hasn't properly valued this.
ReplyDeleteYeah, I do not believe any sort of electric vehicle will take over NZ roads. Even 5%. So I do not see them contributing too much to my coffers.
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