RE:RE:RE:RE:KPC AcquisitionHey Always
We also hold a full position in EMA, FTS, and CPX and really like all 3. I also really like your Green vs Brown comment. As I mentioned, renewables are a totally flawed joke with the lack of reliability, not being able to recycle so many compenents, being costly as far as pwer generation goes, needing so many rare minerals, etc, etc, etc.
ALA is the most disappointing stock I've ever owned and Harris is thw worst CEO I've ever seen (although he does have some serious competition from Banskota and old Tony Marino who b*ggered up not only BTE but VET as well. It really is amazing how many bad CEOs there are and how many totally incompetent Boards there are).
As mentioned, we are going to ride this out. Heck, the yiled will still be over 4.5% even after the 50% divy cut (especially when the stock goes down to $8-9) :-)
Take her easy
Sarge
AlwaysLong683 wrote:
SargeX wrote: Son of a gun, I should have learnt from ALA and listened to myself back in Oct, 2021 (see below). I always thought the Kentucky Power take-over was a bone-head move but I had somehow eventually convinced myself that AQN could handle the financing.
Man was I wrong. My wife & I are actually still just above water price wise with an initial purchase price of $5.55 and average of $11.77. We have also collected a total of $57k in dividends so have done decently well (but should have done way better).
I'm now expecting a divy cut of 50% or so. This has indeed turned out to be another ALA with so many similaities - new BTO (Big Time Operator) CEO, buying a really bad asset, selling good assets to fund the bad buy, cutting divy, etc.
As an aside, ALA is stilll down well over 50% from its $50+ high.
Oh well, live & keep pn learning. At most, we'll trim a tiny amount but may as well hold the majority. After a divy cut of 50%, the yield will still be int he 4% range. :-)
Ciao
Sarge.
I too got caught with ALA when they were in the midst of acquiring WGL and had to arrange financing, plan for the sale / joint venture of some of their existing assets, and get approval from I think it was 3 utilities commissions (D.C., Maryland, Virginia) to which they had to promise all kinds of goodies to get the go-ahead. WGL was a good asset, but the price paid for it all-in was messy and too much when all was said and done.
Now I stick to FTS, EMA, CPX for power and utilities exposure. They are transitioning to green slowly, not diving in head first. Green is coming, but Brown will still be here for quite some time in my view.