As CHS (Cenex Harvest States) is a company which many investors hold preferred shares we note that the cooperative reported earnings yesterday.
The company had net earnings of $229 million against a $45 million loss a year ago. They did have a $51 million gain on the sale of an insurance subsidiary.
Being a cooperative there are no common shares traded, but there are 5 different preferred issues outstanding all of which trade very strongly.
Thanks for the CHS info. CHSCL has been a longtime favorite of mine to buy on pullbacks and sell when it runs up a couple of bucks while collecting the dividends. I’m trying to unload some SPKEP today and have a partial fill at $23.60. Hopefully they will report good results when they report in August but quite frankly, they make me nervous and definitely not a SWAN holding for me. The short interest on SPKE is a massive 41% according to Shortsqueeze.com which is also worrisome.
Hi Leonard—I cut back my SPKEP position to a normal size a few days ago–not a SWAN for me either, but it is closer to a SWAN with a standard holding instead of a 200% position. I had a 3-4% gain (at least will have on Monday when the divies arrive.
I really need some CHS–I haven’t held for years. Wish they would come to me a bit–I hate paying such huge premiums for any issue.
I have to check my SPKEP and may trim it back a little. I never really liked it all that much, but I am in the black on it with dividends.
Speaking of energy issues — what does everyone think of the new Sempra preferred? I am not big on convertibles, but have owned one or two on occasion.
Scott, I picked up 50 shares @ $101 when it became available on Vanguard brokerage before Schwab.com was ready to trade. Please see my DD posted first on Doug Le Du’s paid WEB found by someone there and I made a post on SI:
https://www.siliconinvestor.com/readmsg.aspx?msgid=31698536
And Moody ratings on the issuer:
https://www.siliconinvestor.com/readmsg.aspx?msgid=31698911
John
Thank you very much! I will look this information over.
I have had an order for the SRE-A placed for a bit but it has not filled.
I took my dividend on spkep and sold for a small profit. I really don’t like their business but saw a chance to make a quick buck. I also have some CHS shares.