Dividend Cut: Pengrowth Energy Corp. (TSE: PGF)
I’d like nothing more than to dump my shares of PGF, as it’s been my worse investment, by far. I’ve lost roughly 55% of my investment in PGF and don’t even feel comfortable selling now, in hopes that the stock price could appreciate in the future and I could recoup some losses.
It was one of my smallest investments as I felt it was a risky business to enter in the first place, and it was one of the first four stocks I had purchased at the beginning of my investment career. I’ve learned a lot since then, and have gravitated towards safer, blue chip companies with proven track records.
This, combined with Goldcorps’ 60% dividend reduction have put a damper on my monthly dividend income.
There are a lot of energy companies which have been selling for less and less, delivering attractive valuations, especially with the recent market volatility. If I were to continue investing in energy, I’d definitely pick a more reputable stock with a greater track record. Following are some names which I have an interest in, but must do more investigating.
- Whitecap Resources (WCP)
- Kinder Morgan (KMI)
- Canadian Natural Resources (CNQ)
- ExxonMobil (XOM)
- Chevron (CVX)
- Phillips 66 (PSX)