Portfolio Update 4/28/2020

Today I sold Energy Transfer (ET) and used the proceeds to open a position in Exxon Mobil (XOM).

Reasons why I sold Energy (ET):

The initial reason was that I found out ET is setup as an MLP.  The thing about MLPs is that they send you a form K-1 as opposed to the traditional 1099-DIV that most of us are accustomed to.  I simply don't want to wait on and deal with their K-1 next year.

The next reason is that I realized I don't know much about the oil market.  We're living in very strange times and the oil market is doing things it has never done before.  I got tired of feeling uncertain about holding this one.

The last reason is that I bought my shares at $5.00 each and sold them for $7.34.  This resulted in a capital gain of roughly 47%.  Not bad for only holding the stock for about a month.  I also sold before the dividend ex date which means I won't be receiving a form K-1 next year.

Reasons why I bought Exxon Mobil (XOM):

Exxon Mobil is a well established Dividend Aristocrat and one of the largest companies in the world by revenue.  XOM has roots dating back to 1870 and has weathered many storms in the years since.  I also understand their both their market and how they make money as a business.  Buying into ET on a whim made me realize that I don't like owning a stock without knowing how it makes money from normal operations.

Current market conditions allowed me to buy XOM and just shy of $45.00 a share.  Not long ago this stock was in the high $60's and even into the $70's.  My primary goal is to increase income from dividends but I also like the possibility of capital gains in the future.

The nearly 8% dividend yield at my purchase price doesn't hurt either.

This is what my portfolio looks like after the changes:

SeekingDividends.com
Portfolio as of 4/28/2020
Stock	Shares Held	Annual Dividend	Yield %	Annual Income
O	40.69	$2.80	5.26%	$113.93
ARCC	10	$1.60	13.01%	$16.00
MAIN	10.08	$2.46	9.76%	$24.80
EPR	10.17	$4.59	16.27%	$46.68
AMC	10	$0.63	15.22%	$6.30
XOM	3	$3.48	7.74%	$10.44
Total				$218.15

In summary I was able to get out of ET while I was ahead and get into XOM at a good price.

Thank you for reading I and hope you found this update useful and/or entertaining.  I welcome any questions or feedback.