Even though FCX is a small position in my portfolio (1%), watching this baby drop and seeing the red on the screen getting redder is ugly. I bought it for the dividend when it was just under 30. Now at 18 and change, is it even worth selling given the tremendous drop? The company wont go bankrupt, but who knows when we'll see prices in the high 20s/low 30s again.... Good luck to all.
habits - I didn't choose one over the other, I own both. I've owned OKS since 2005 when it was NBP and added it to my IRA. I've never owned OKE until now. Frankly, it always traded at a premium so I wasn't inclined to invest new money there, until now. Great company, it's the GP to OKS and management is projecting solid DCF and distribution growth over the next several years. Given the recent plunge in energy stocks, the reward to risk for OKE I believe is exceptional as a long term hold given the quality and current price. I wish you successful investing.....
Jack - Financial fortune favors the bold. May not be the bottom, but you just picked up a great company at a ridiculously low price. I couldn't resist either...just picked up some OKE at $44.70.....5.3% yield...just nuts.
People are just dumping all things energy. Shoot first, ask questions later. Dumb. Just plain dumb. OKE and OKS just provided very strong DCF and distribution growth guidance a few days ago, yet the stocks are down another 10-15%. IF you have some dry powder, you can buy these solid companies (and many others) on the cheap.