I’m reporting my automatic purchases for this week:
I Bought:
$250 of WFC (Wells Fargo)
$350 of ESV (Ensco)
I used $600 in new capital and added $22.44/year to my dividend income. This is an average yield of 4.6%.
Note:
I just recently purchased a block of 80 shares of WFC that I posted earlier this week and I had already locked in my buys with Sharebuilder this week so I added a few more. I mentioned some reasons for the buy on that post. I’m done adding to WFC for a while now that they are above average weight.
I continue to average down on shares of ESV and have no problem building up to a 300 share position in the short-term as long as I can keep averaging down.
There was a new article on SA with an analysis of ESV’s fleet that would be worth checking out to anyone interested in the company. You can find that here.
I’ll be looking for companies outside of the energy sector for any big purchases going forward.
Picture:
Just for some fun and to add some color I will be posting pictures of places I’ve been to. It’s also motivation to reach FI so I can travel and do what I want to when I want to.
This is a picture of me in front of the river than runs around Verona, Italy in 2012. I miss Europe!
I need more money. lol 🙂 I too read that article about ESV. I want to add more to my shares of ESV, but I am buying ARCP today.
FFdividend,
I agree with you. There’s so many good companies out there, we can’t possibly own them all! I’m a buyer of ESV as long as they are at these levels. ARCP has been popular lately, good luck with that one.
Thanks for stopping by!
Ditto on missing Europe! I love Italy but I think for me I might miss Austria a little bit more. Love the pictures, keep them coming!
Hi Chris,
That same trip, I also went to Austria. It’s probably the most beautiful place I’ve ever seen in person. I’m glad you like the pictures. I’ll keep posting them. I need a new trip to go on soon!
Thanks for stopping by!
Nice buy on Wells Fargo. I have my checking account with them and I’ve wanted to own them for some time. Ideally I would start with a cash secured put but I don’t have the funds available.
I’ve never been to Italy. I grew up and lived in the UK for the first 31 years of my life (now 37 and in the US) and I regret not doing much travel around Europe. Hopefully I will visit Italy one day and while I’m still young enough to enjoy it.
Hi Gareth,
Thanks! A cash secured put isn’t a bad idea for an initial purchase. At least you’d get the chance to buy for cheaper than market prices. I’m definitely a proponent of selling puts.
I’m sure you’ll get a chance to one day. I’m just trying to see a few places before I have kids.
Thanks for stopping by!
Thanks for linking the ESV article. I haven’t read much about that business, but it reminded me of dry shippers and the contract rates they could get for their ships. Do you think ESV will have a difficult time re-negotiating any of the contracts that are expiring in the next year?
Take care and great picture!
ILG recently posted…Do it yourself Dividend ideas
ILG,
Sure, no problem. There could be some downward pricing pressure with more rigs available. As long as you don’t think the price of gas is going to plummet though, I think these guys are going to be a winner in the long run.
Glad you liked it. Take care!