Seems to support the theory if don't jump ship until the trend breaks. At some point it will give some back but trying to guess that point is very difficult. I continue to let this and SEP ride with 30% of my money.
I've been in this stock for about 3 years now. I bought it for the dividend & expected no gains whatsoever, but it's up about 70%. I just sold about 40% of my position to reduce my position -- I may regret it. My boring dividend stocks continue to outperform my "growth" stocks.
And the trend continues. Still not selling even though this is too big a portion of my total. Any company that can offer a steady stream of divi raises and the fundamentals support it far into the future - is going to be in heavy demand for a long time.
And the trend continues. How much are people willing to pay for a stock that will continue to raise its dividend into the forseeable future. Other stocks have higher yields but they don't have the future increases. Well as long as the trend continues - I hold.