imho, the equity issue prefered or common dilutes your shares and higher rates hit all the high yeild stocks and bonds. having said that over time the divey makes up capital loss and then some. can see it going down to 31-32 before it settles down, will probably add some more there.
Based on comments of planned split of equity and debt to raise 2.8B means about 10% more shares may be added to the float. I just worry how they cover the dividend for those extra shares. Could a 10% dividend cut be coming? You also have to wonder if the institutions that would buy the equity offering are shorting the shares right now. Why not. Short it now at a higher price and drive down the offer price. Then buy the offer to cover the short position. Free money to those that can.
all good points, and volume still seems high. the sell off started around 37-38 so still seems like we must be getting close. the capital spending projects are over a 4 year period so this still seems a bit overdone to me.
seems oversold to me, but being long i guess it would. lol
for what its worth i think there is some sector rotation going on as well. people getting out of high paying dividend stocks with the idea rates will go up. But even if they did this is still a pretty good yield historically speaking, and I also don't see the fed allow rates to go up.