RE:RE:The next three quarters Its a little hard to say how management will view dividend increases beyond their already announced plan to increase dividends by 4% per year and seeing that as sustainable.
I think it is more likely that they continue to bring down debt but there could be a case for a one time special dividend as well which means they don't have to permanently up the base cost of dividends beyond the 4% even when they have a spectacular year.
So I agree the odds of a permanent increase beyond 4% is not great. A special dividend could be in the cards but my point is really that the earnings will drive the stock price combined with a view that some growth is possible over the medium term on a sustainable basis as indeed debt comes down making higher profits possible.
They will watch carefully dividends in the other utilities and midstreams and I think 4% does that.
Regardless earnings of 1.91 - 2.05 will move prices higher quickly especially if they were to raise guidance once again.. I won't sell now before 28 even to lighten up. Cheers John