Sometimes that's a problem in today's market. I'm in long and with dividend reinvest don't much mind floating in the low 30's for now but strongly believe eventually we'll slowly return to pre-crash prices. If I was a new investor in high yield dividends I'd be buying PEG at these levels and looking for some profit taking on T (AT&T)- though the price is still attractive around 32.
Back to PEG: One major factor that helped bring down the price and keep the price down - that dang IRS thing. I stopped listening to conference calls because, after a reasonably good earnings, the questions would come and the price would drop (even though the company was overly conservative in preparing for the worst as it went into settlement negotiations. Well it's over - over - over - has been but here's the print:
"The improvement in operating earnings is due to the settlement with the Internal Revenue Service of the offshore lease transactions for all tax years, and a settlement of all federal audit issues for tax years 1997 – 2006. A reduction in the effective tax rate improved operating earnings by $38 million, or $0.08 per share. A small reduction in lease earnings in 2012's first quarter was approximately equal to the absence of an asset impairment recognized in 2011's first quarter."