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Progress Energy Inc. Message Board

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  • wyo34 wyo34 Mar 11, 2005 6:14 PM Flag

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    I am new to the board and considering a 2k share buy on PGN for the dividend.

    Historically, this stock appears to be pegged in the 41-42-43 range.

    Do you have any insight on the next 12 months?

    4-5k a year in dividens would be nice!!!

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    • Wait until the stock goes x-dividend. You can then buy the stock at the reduced rate (since it will drop the value of the dividend and the next dividend will qualify for the tax benefit). If you really like the current rate of return and you think interest rates will soon stabilize or possibly go donw then maybe you should but at the current price. Right now PGN is in a trading zone so be patient and get the best price you can. Take a look at the July Put option. Recent data would suggest a July price for PGN of around 41.80 or so. I don't really understand Puts and Calls that well but I think the price suggest no breakout soon for PGN. I could be way off base on this but I'm sure someone that knows the business better than I will help out. Good luck with your decision. I am holding a position in PGN in my Roth so I have a very long view on the performance issue.

 

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