After a four-month run of steady gains, September brought sudden, sharp, losses across the board. The NASDAQ, which peaked over 12,000 on September, has slipped just below 11,000, a loss of 9.4%, while the S&P 500 is down 6.7% in the same period. These are the deepest market losses since the crash of February/March earlier this year.
First on the list today is Energy Transfer (ET), a midstream company with assets in 38 states. ET mostly operates in Midwest-Appalachian and Texas-Oklahoma-Louisiana regions, with additional assets in North Dakota, the Colorado Rockies, and northern Alberta. The company’s assets include pipelines, terminals, and storage tanks for natural gas and crude oil. Next on our list is another midstream company in the North American hydrocarbon universe, EnLink Midstream LLC (ENLC). The company has operations in Appalachian region, across the states of New York, Pennsylvania, West Virginia, and Ohio, as well in the Gulf Coast region in Texas, Louisiana, and Oklahoma. ENLC is involved in all aspects of the natural gas midstream sector: tethering, treating, processing, transport, distribution, and supply and marketing. Last on today’s list is a real estate investment trust Chimera Investment Corporation (CIM). REITs are perennial dividend champs, as they are required by tax code to return profits to shareholders. Chimera, which focuses on residential mortgage loans and mortgage backed securities, maintained a dividend of 50-cent per quarter payment per share of common stock until the most recent declaration. That payment, made in July, was for 30 cents per share.
Source: Yahoo Finance
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