Exploit the Falling Interest Rate Boom
There has been a dramatic turnaround in the market this month. And the catalyst could continue to drive stocks higher for a while longer.
After falling for three straight months, the S&P 500 has rallied 7.6% in the first three weeks of November. The main reason for the turnaround is interest rates. The Fed indicated they would not hike rates anymore and encouraging October inflation numbers confirmed Wall Street’s view that interest rates have peaked.
Interest rates had held the market hostage. Rising inflation and interest rates last year caused the bear market. The recent three-month selloff in stocks, which dipped into correction territory, coincided with a spike higher in the benchmark 10-year treasury rate from 3.75% in July to 5% at the end of October. When the 10-year rate plunged from 5% to below 4.5% this month, stocks soared.
The market has been OK with interest rates bouncing around in a range. The 10-year Treasury trended higher from April through July and the market rallied. But the rate was still below the peak 4% rate achieved last year. It’s when rates break out to new highs for this cycle that the market freaks out. If the current Wall Street expectation that 5% is the peak is true, it should be positive for stocks, or at least eliminate a big negative.
The current consensus is very positive. Inflation appears subdued, the Fed is done hiking rates, and the economy is nowhere near a recession. It appears that we are having a “soft landing,” where the market gets through this rate hiking cycle without the usual economic pain.
Of course, things can change. The positive situation could discombobulate next year. The Goldilocks scenario where the economy is solid but not too strong could unravel. Too much economic growth could reignite inflation and rising interest rates. Too little growth could invite recession.
We’ll see what happens in the new year. But the prognosis for stocks looks good for at least the rest of the year. It’s a good time to take advantage of stocks that have risen to new 52-weeks highs and command high-priced calls. In this issue, I highlight sizable covered call premiums for recently surging Intel (INTC) and the first call for Digital Realty Trust (DLR).
What to Do Now
The November market has been very positive for technology stocks, which don’t like rising interest rates because the increased costs lower growth projections. It is also a big plus for the long-beleaguered defensive dividend stocks. Utility, REITs, and consumer staples stocks get pressured as fixed rate alternatives become more attractive. But those defensive stocks are coming off multi-year lows and may continue to rally amid subdued interest rate pressure.
Peak or falling interest rates should be very positive for defensive positions in Xcel Energy (XEL) and Realty Income (O) and probably NextEra Energy (NEE) after it stabilizes a little more. Those stocks are great bargains and have a history of outperformance in a slowing economy or recession.
But the biggest opportunity for upside right now is in Qualcomm (QCOM). Although it has moved higher lately and returned 20% YTD, it has significantly lagged the technology sector, which is up 50% YTD. The problem has been lower revenue because of falling smartphone sales.
But it appears that the smartphone market may have bottomed out. At the same time, Qualcomm has very promising AI chips for smartphones and PCs scheduled to launch in 2024. While other companies have rallied strongly on the AI phenomenon already, Qualcomm should be a later bloomer as AI inevitably finds its way into mobile devices.
Qualcomm describes itself as the “on-device AI leader.” Next year Qualcomm is likely to have growing revenues and rising earnings as well as the buzz of new product launches. The stock sells at historically cheap valuations and can rise quickly when things turn its way.
Monthly Recap
October 20
HES October 20 $155 calls at $9.00 - Expired
Hess Corporation stock (HES) - Called
INTC October 20 $35 calls at $3.78 – Expired
October 24
Purchased Marathon Petroleum Corporation (MPC) - $149.45
November 21
Sell DLR January 19 $135 calls at $6.00 or better
Sell INTC January 19 $42.50 calls at $3.50 or better
Featured Actions
Sell DLR January 19 $135 calls at $6.00 or better
Expiration date: January 19
Strike price: $135
Call price: $6.00
Digital Realty Trust, Inc. (DLR)
DLR has run up to a 52-week high amid the both the rally in technology and the rally in REITs as investors expect interest rates have peaked. This data center REIT is unique in its specialized technology properties that have growing demand and the additional catalyst of AI upgrades going forward. I still like DLR going forward but the huge run higher in the market in early November may pause for a while.
Here are the three scenarios.
1. The stock closes above the $135 strike price at expiration.
Call premium: $6.00
Dividends: $2.44
Appreciation: $17.69 ($135 strike price minus $117.31 purchase price)
Total: $26.13 (total return will be 22.3% in 6 months)
2. The stock price closes below but near our $135 strike price.
Call premium: $6.00
Dividends: $2.44
Total: $8.44 (total income of 7.2% in 6 months)
3. The stock price declines.
There will be $8.44 in income to offset the decline. Plus, the original purchase price was more than $17 per share below the strike price.
Sell INTC January 19 $42.50 calls at $3.50 or better
Expiration date: January 19
Strike price: $42.50
Call price: $3.50
Intel Corporation (INTC)
The stock has had a tremendous run to a 17-month high on optimism about ambitious new chip launches in 2024 as well as its growing foundry business. INTC is up over 12% in the last week, 22% in the last month, 35% in the past three months, and over 68% YTD. The stock historically tends to pull back and consolidate after a big surge higher. We can use the recent bounty to milk a big fat call premium.
Here are the three scenarios.
2. The stock closes above the $42.50 strike price at expiration.
Call premium: $3.50
Dividends: $1.60
Appreciation: $2.32 ($42.50 strike price minus $40.18 purchase price)
Total: $7.42 (total return will be 18.5% in 18 months, and 27.9% if you sold the previous call for $3.78)
3. The stock price closes below but near our $42.50 strike price.
Call premium: $3.50
Dividends: $1.60
Total: $5.10 (total income of 12.7% in 18 months, and 22.1% with the previous call)
4. The stock price declines.
There will be $5.10 in income to offset the decline.
Portfolio Recap
CIA STOCK PORTFOLIO | |||||||
Open Recommendations | Ticker Symbol | Entry Date | Entry Price | Recent Price | Buy at or Under Price | Yield | Total Return |
Qualcomm Inc. | QCOM | 5/5/21 | $134.65 | $129.47 | $130.00 | 2.47% | 1.55% |
Intel Corporation | INTC | 7/27/22 | $40.18 | $43.81 | $35.00 | 1.14% | 14.23% |
The Williams Companies | WMB | 8/24/22 | $35.58 | $35.43 | $38.00 | 5.05% | 6.71% |
NextEra Energy, Inc. | NEE | 4/25/23 | $77.50 | $57.37 | NA | 3.26% | -25.30% |
Realty Income Corp. | O | 6/27/23 | $60.19 | $52.91 | $62.00 | 5.81% | -10.00% |
Digital Realty Trust | DLR | 7/18/23 | $117.31 | $134.53 | $125.00 | 3.63% | 15.77% |
AbbVie Inc. | ABBV | 7/25/23 | $141.63 | $138.30 | $150.00 | 4.48% | -1.38% |
Xcel Energy Inc. | XEL | 8/22/23 | $57.95 | $60.56 | $65.00 | 3.43% | 5.43% |
Tractor Supply Company | TSCO | 9/26/23 | $203.03 | $202.61 | $215.00 | 2.03% | -0.21% |
Marathon Petroleum Corp. | MPC | 10/24/23 | $149.45 | $147.90 | $155.00 | 2.23% | 0.05% |
Existing Call Trades |
| ||||||
Open Recommendations | Ticker Symbol | Intial Action | Entry Date | Entry Price | Recent Price | Sell To Price or better | Total Return |
DLR Jan 19th $135 call | DLR240119C00130000 | Sell Pending | $5.61 | $6.00 | 5.11% | ||
INTC Jan 19th $42.50 call | INTC240119C00042500 | Sell Pending | $3.03 | $3.50 | 8.71% | ||
as of close on 11/17/2023 | |||||||
SOLD STOCKS |
| ||||||
x | Ticker Symbol | Action | Entry Date | Entry Price | Sale Date | Sale Price | Total Return |
Innovative Industrial Props. | IIPR | Called | 6/2/20 | $87.82 | 9/18/20 | $100.00 | 15.08% |
Qualcomm | QCOM | Called | 6/24/20 | $89.14 | 9/18/20 | $95.00 | 7.30% |
U.S. Bancorp | USB | Called | 7/22/20 | $36.26 | 9/18/20 | $38 | 3.42% |
Brookfield Infras. Ptnrs. | BIP | Called | 6/24/20 | $41.92 | 10/16/20 | $45 | 8.49% |
Starbucks Corp. | SBUX | Called | 8/26/20 | $82.41 | 10/16/20 | $88 | 6.18% |
Visa Corporation | V | Called | 9/22/20 | $200.56 | 11/20/20 | $200 | 0.00% |
AbbVie Inc. | ABBV | Called | 6/2/20 | $91.04 | 12/31/20 | $100 | 12.43% |
Enterprise Prod. Prtnrs. | EPD | Called | 6/24/20 | $18.14 | 1/15/21 | $20 | 15.16% |
Altria Group | MO | Called | 6/2/20 | $39.66 | 1/15/21 | $40 | 7.31% |
U.S. Bancorp | USB | Called | 11/25/20 | $44.68 | 1/15/21 | $45 | 1.66% |
B&G Foods Inc, | BGS | Called | 10/28/20 | $26.79 | 2/19/21 | $28 | 4.42% |
Valero Energy Inc. | VLO | Called | 8/26/20 | $53.70 | 3/26/21 | $60 | 11.73% |
Chevron Corp. | CVX | Called | 12/23/20 | $85.69 | 4/1/21 | $96 | 12.95% |
KKR & Co. | KKR | Called | 3/24/21 | $47.98 | 6/18/21 | $55 | 14.92% |
Digital Realty Trust | DLR | Called | 1/27/21 | $149.17 | 7/16/21 | $155 | 5.50% |
NextEra Energy, Inc. | NEE | Called | 2/24/21 | $73.76 | 9/17/21 | $80 | 10.00% |
Brookfield Infras. Ptnrs. | BIP | Called | 1/13/21 | $50.63 | 10/15/21 | $55 | 11.65% |
AGNC Investment Corp | AGNC | Sold | 1/13/21 | $15.52 | 1/19/22 | $15 | 5.92% |
ONEOK, Inc. | OKE | Called | 5/26/21 | $52.51 | 2/18/22 | $60 | 19.62% |
KKR & Co. | KKR | Sold | 8/25/21 | $64.52 | 2/23/22 | $58 | -9.73% |
Valero Energy Inc. | VLO | Called | 11/17/21 | $73.45 | 2/25/22 | $83 | 15.53% |
U.S Bancorp | USB | Sold | 3/24/21 | $53.47 | 4/13/22 | $51 | -1.59% |
Enterprise Product Ptnrs | EPD | Called | 3/17/21 | $23.21 | 4/14/22 | $24 | 11.25% |
FS KKR Capital Corp. | FSK | Called | 10/27/21 | $22.01 | 4/14/22 | $23 | 13.58% |
Xcel Energy Inc. | XEL | Called | 10/12/21 | $63.00 | 5/20/22 | $70 | 12.66% |
Innovative Industrial Props. | IIPR | Sold | 3/23/22 | $196.31 | 7/20/22 | $93 | -51.23% |
One Liberty Properties | OLP | Sold | 7/28/21 | $30.37 | 8/24/22 | $25 | -12.94% |
ONEOK, Inc. | OKE | Called | 5/25/22 | $65.14 | 1/20/23 | $65 | 2.66% |
Xcel Energy, Inc. | XEL | Called | 10/26/22 | $62.57 | 1/20/23 | $65 | 4.67% |
Realty Income Corp. | O | Called | 9/28/22 | $60.37 | 2/17/23 | $63 | 5.41% |
Medical Properties Trust | MPW | Sold | 1/24/23 | $13.22 | 3/21/23 | $8 | -38.00% |
Brookfield Infrastructure Cp. | BIPC | Called | 11/9/22 | $42.43 | 7/21/23 | $45 | 8.72% |
Star Bulk Carriers Corp. | SBLK | Sold | 6/1/22 | $33.30 | 8/8/23 | $18 | -31.38% |
Visa Inc. | V | Called | 12/22/21 | $217.16 | 8/18/23 | $235 | 9.16% |
Global Ship Lease, Inc. | GSL | Sold | 2/23/22 | $24.96 | 8/29/23 | $19 | -13.82% |
ONEOK, Inc. | OKE | Called | 3/28/23 | $60.98 | 9/15/23 | $65 | 9.72% |
Hess Corporation | HES | Called | 6/6/23 | $132.25 | 10/20/23 | $155 | 17.87% |
EXPIRED OPTIONS |
| ||||||
Security | In/out money | Sell Date | Sell Price | Exp. Date | $ return | Total % Return |
|
IIPR Jul 17 $95 call | out-of money | 6/3/20 | $3.00 | 7/17/20 | $3.00 | 3.40% | |
MO Jul 31 $42 call | out-of-money | 6/17/20 | $1.60 | 7/31/20 | $1.60 | 4.03% | |
ABBV Sep 18 $100 call | out-of-money | 7/15/20 | $4.60 | 9/18/20 | $4.60 | 5.05% | |
IIPR Sep 18 $100 call | in-the-money | 7/22/20 | $5.00 | 9/18/20 | $5.00 | 5.69% | |
QCOM Sep 18 $95 call | in-the-money | 6/24/20 | $4.30 | 9/18/20 | $4.30 | 4.82% | |
USB Sep 18 $37.50 call | in-the-money | 7/22/20 | $2.00 | 9/18/20 | $2.00 | 5.52% | |
BIP Oct 16 $45 call | in-the-money | 9/2/20 | $1.95 | 10/16/20 | $1.95 | 4.65% | |
SBUX Oct 16 $87.50 call | in-the-money | 10/16/20 | $3.30 | 10/16/20 | $3.30 | 4.00% | |
V Nov 20 $200 call | in-the-money | 9/22/20 | $10.00 | 11/20/20 | $10.00 | 4.99% | |
ABBV Dec 31 $100 call | in-the-money | 11/18/20 | $3.30 | 12/31/20 | $3.30 | 3.62% | |
EPD Jan 15 $20 call | in-the-money | 11/23/20 | $0.80 | 1/15/21 | $0.80 | 4.41% | |
MO Jan 15 $40 call | in-the-money | 11/25/20 | $1.90 | 1/15/21 | $1.90 | 4.79% | |
USB Jan 15 $45 call | in-the-money | 11/25/20 | $2.00 | 1/15/21 | $2.00 | 4.48% | |
BGS Feb 19 $27.50 call | in-the-money | 12/11/20 | $2.40 | 2/19/21 | $2.40 | 8.96% | |
VLO Mar 26 $60 call | in-the-money | 2/10/21 | $6.50 | 3/26/21 | $6.50 | 12.10% | |
CVX Apr 1 $95.50 call | in-the-money | 2/19/21 | $4.30 | 4/1/21 | $4.30 | 5.02% | |
AGNC Jun 18 $17 call | out-of-money | 4/13/21 | $0.50 | 6/18/21 | $0.50 | 3.21% | |
KKR Jun 18 $55 call | in-the-money | 4/28/21 | $3.00 | 6/18/21 | $3.00 | 6.25% | |
USB Jun 16 $57.50 call | out-of-money | 4/28/21 | $2.80 | 6/18/21 | $2.80 | 5.24% | |
DLR Jul 16 $155 call | in-the-money | 6/16/21 | $8.00 | 7/16/21 | $8.00 | 5.36% | |
AGNC Aug 20 $17 call | out-of-money | 6/23/21 | $0.50 | 8/20/21 | $0.50 | 3.00% | |
OKE Aug 20 $57.50 call | out-of-money | 6/23/21 | $3.50 | 8/20/21 | $3.50 | 6.67% | |
NEE Sep 17 $80 call | in-the-money | 8/11/21 | $3.50 | 9/17/21 | $3.50 | 4.75% | |
BIP Oct 15 $55 call | in-the-money | 9./01/2021 | $2.00 | 10/15/21 | $2.00 | 3.95% | |
USB Nov 19 $60 call | out-of-money | 9/24.2021 | $2.30 | 11/19/21 | $2.30 | 4.30% | |
OKE Nov 26 $65 call | out-of-money | 10/20/21 | $2.25 | 11/26/21 | $2.25 | 4.28% | |
KKR Dec 17 $75 call | out-of-money | 10/26/21 | $3.50 | 12/17/21 | $3.50 | 5.42% | |
QCOM Jan 21 $185 Call | out-of-money | 11/30/21 | $9.65 | 1/21/22 | $9.65 | 7.17% | |
OLP Feb 18 $35 Call | out-of-money | 11/19/21 | $1.50 | 2/18/22 | $1.50 | 4.94% | |
OKE Feb 18 $60 Call | in-the-money | 1/5/22 | $2.75 | 2/18/22 | $2.75 | 5.24% | |
USB Feb 25 $61 call | out-of-money | 1/13/22 | $2.50 | 2/25/22 | $2.50 | 4.68% | |
VLO Feb 25 $83 call | in-the-money | 1/18/22 | $4.20 | 2/25/22 | $4.20 | 6.13% | |
EPD Apr 14th $24 call | in-the-money | 3/2/22 | $1.25 | 4/14/22 | $1.25 | 5.69% | |
FSK Apr 14th $22.50 call | in-the-money | 3/10/22 | $0.90 | 4/14/22 | $0.90 | 4.09% | |
XEL May 20th $70 call | in-the-money | 3/30/22 | $3.00 | 5/20/22 | $3.00 | 4.76% | |
SBLK July 15th $134 call | out-of-money | 6/1/22 | $1.60 | 7/15/22 | $1.60 | 4.80% | |
OKE Oct 21st $65 call | out-of-money | 8/24/22 | $3.40 | 10/21/22 | $3.40 | 5.22% | |
OKE Jan 20th $65 call | In-the-money | 11/25/22 | $3.70 | 1/20/23 | $3.70 | 5.68% | |
XEL Jan 20th $65 call | in-the-money | 11/25/22 | $5.00 | 1/20/23 | $5.00 | 7.99% | |
O Feb 17th $62.50 call | in-the-money | 12/28/22 | $3.00 | 2/17/23 | $3.00 | 4.97% | |
QCOM Sep 16th $145 call | out-of-money | 7/20.2022 | $11.75 | 9/16/22 | $11.75 | 8.73% | |
V Mar 17th $220 call | out-of-money | 1/24/23 | $12.00 | 3/17/203 | $12.00 | 5.51% | |
OKE May 19th $65 call | out-of-money | 4/11/23 | $2.70 | 5/19/23 | $2.70 | 4.43% | |
V Jun 2 $230 call | out-of-money | 4/21/23 | $10.50 | 6/2/23 | $10.50 | 4.82% | |
BIPC $45 July 21st call | in-the-money | 5/23/23 | $3.25 | 7/21/23 | $3.25 | 7.66% | |
V $235 Aug 18th call | in-the-money | 7/11/23 | $9.00 | 8/18/23 | $9.00 | 4.13% | |
GSL $20 Aug 18th call | out-of-money | 7/11/23 | $1.25 | 8/18/23 | $1.25 | 5.00% | |
OKE $65 Sep 15 call | in-the-money | 9/15/23 | $3.20 | 7/25/23 | $3.20 | 4.92% | |
INTC $35 Oct 20th call | out-of-money | 9/8/23 | $3.78 | 10/20/23 | $3.78 | 9.41% | |
HES $155 Oct 20th call | in-the-money | 9/8/23 | $9.00 | 10/20/23 | $9.00 | 6.81% | |
AbbVie Inc. (ABBV)
Yield: 4.5%
The drug maker has shrinking revenue and earnings this year because its blockbuster Humira drug is facing biosimilar competition in the U.S. But this has long been expected and the company’s new drugs and pipeline are well on pace to make AbbVie a solid earnings grower in the years ahead.
Its two new biosimilar drugs, Rinvoq and Skyrizi, grew sales by more than 50% in the last quarter and the company expects these drugs alone to eventually surpass Humira’s peak sales. The stock sells at a low valuation and investors sense that it might turn the Humira corner sooner ahead of a very bright future. The stock may seem like it’s dead money but once we get through this year things can improve dramatically. BUY
AbbVie Inc. (ABBV)
Next ex-div date: January 12, 2024, est.
Digital Realty Trust (DLR)
Yield: 3.6%
DLR rose to a new 52-week high last week as both REITs and technology stocks have rallied because of falling interest rates and the perception that they’ve peaked. Data center spending is expected to grow 11% per year until 2030. Digital is an elite data center REIT that should muster better growth than that. There is also an additional catalyst on top of cloud spending: artificial intelligence. Even in a tough year for REITs, DLR has returned about 38% YTD. If interest rates have peaked, REITs should continue to rally, giving DLR a further boost. BUY
Digital Realty Trust, inc. (DLR)
Next ex-div date: December 15, 2023, est.
Intel Corp, (INTC)
Yield: 1.1%
Strong earnings, encouraging news about future business, and a much better market environment are turning INTC around. Intel received an analyst upgrade last week and rallied nearly 7% on the same day to a 17-month high. INTC is up more than 12% in the last week, 22% in the last month, 35% in the past three months, and over 68% YTD. Earnings indicate that Intel’s turnaround is well on track. It has promising new chips coming out in high-growth areas and its foundry business could be huge. The stock got dirt cheap, and investors are increasingly willing to bet on the company’s future. BUY
Intel Corporation (INTC)
Next ex-div date: February 5, 2024, est.
Marathon Petroleum Corp, (MPC)
Yield: 2.2%
This recently added oil refiner has blown away the performance of its peers and the overall market for several years. Even though the energy sector is negative YTD, MPC has managed about a 30% return. While the environment can vary from quarter to quarter, it should remain an overall profitable environment for refiners over the next several years. Plus, it appears that the economy should remain solid for the next couple of quarters. BUY
Marathon Petroleum Corporation (MPC)
Next ex-div date: February 15, 2024, est.
NextEra Energy, Inc. (NEE)
Yield: 3.3%
NEE had been riding high again until last week. NextEra reported earnings that beat estimates and grew 10.6% from last year’s quarter. Management also reiterated previous growth projections and said the company expects to deliver earnings near the top of the expected range through 2026. NEE spiked over 8% the week of the report, and had made a very convincing 26% move off the low. But the stock pulled back after that as solar power companies came under pressure as its subsidiary NextEra Energy Partners (NEP) was downgraded citing pressure from higher interest rates. NEE seems to be bouncing back from that too. HOLD
NextEra Energy, Inc. (NEE)
Next ex-div date: November 22, 2023
Realty Income Corp. (O)
Yield: 5.8%
This has been the one of the longest periods of sustained lousy performance for this legendary income REIT in a long time. But the future prognosis should be a whole lot better. O sells at one of the cheapest valuations ever. Peak interest rates should be a huge benefit for the REIT sector that could prompt a sustained rally. And its retail staple properties and new data center acquisitions should produce reliable revenue in just about any economy. BUY
Realty Income Corporation (O)
Next ex-div date: November 30, 2023
Tractor Supply Company (TSCO)
Yield: 2.0%
Earnings increased 11% over last year’s quarter and net sales were up 4.3%. But the company also slightly lowered guidance for the full year citing lower demand for seasonal products due to a weaker consumer. The stock got clobbered after the report in a cranky market but it has come back strong this month. Hopefully, the strong economic numbers and falling interest rates will give the stock a further lift in the months ahead. BUY
Tractor Supply Company (TSCO)
Next ex-div date: November 24, 2023
Qualcomm Corp. (QCOM)
Yield: 2.6%
The struggling chipmaker stock got a big boost this month. While the overall tech sector rallied on falling interest rates, Qualcomm was also helped by the earnings report. Results for the quarter still showed lower earnings and revenue, but the future is looking increasingly bright, and investors took notice. Qualcomm is introducing new AI chips for PCs and smartphones that could be big sellers next year. Also, strong smartphone sales in China are indicating the phone sales have already bottomed.
It’s looking like 2024 could be a very profitable year. QCOM has been a laggard because of falling smartphone sales, only up 18% YTD while the overall technology sector is up 50%. But it could be a later-blooming sector star in 2024 and beyond. BUY
Qualcomm Inc. (QCOM)
Next ex-div date: November 29, 2023
The Williams Companies, Inc. (WMB)
Yield: 5.1%
The natural gas pipeline company reported strong earnings growth earlier this month. It also delivered good news in terms of acquisitions and expansions. It pays a well-supported 5.1% yield (with 2.38 times cash flow coverage) in a business with steady demand even in tough times. Its recent acquisitions and expansions ensure more solid growth going forward all the way out to 2028. This should be a solid holding in any environment. WMB continues to hover near the 52-week high but it’s still below the 2022 high. BUY
The Williams Companies, Inc. (WMB)
Next ex-div date: December 7, 2023
Xcel Energy Inc. (XEL)
Yield: 3.5%
This clean energy utility stock has been trending higher since the beginning of last month. The low may be in. XEL had a convincing 13% move off the low. But, like NEE, XEL came under pressure earlier this month as analysts expressed concern about the solar energy business amid the current high interest rates. But this is one of the best utility stocks to own and the recent debauchery may prove to be very temporary. XEL still sells near the lowest levels of the past several years and now has some positive momentum. Peak interest rates should also help the utility sector. BUY
Xcel Energy Inc. (XEL)
Next ex-div date: December 15, 2023, est.
Income Calendar
Ex-Dividend Dates are in RED and italics. Dividend Payments Dates are in GREEN. Confirmed dates are in bold, all other dates are estimated. See the Guide to Cabot Income Advisor for an explanation of how dates are estimated.
The next Cabot Income Advisor issue will be published on December 26, 2023.
