Stock price when the opinion was issued
This is a top 5 company in the pipeline group. Dividend stocks are getting hurt by the fear of rising interest rates. This is a great company with a good record of increasing dividends. This is just the wrong sector right now. He would still hold it for the long term for diversification. Yield 5.3%.
(A Top Pick July 26/12. Up 7.14%.) Got out at around $31 to reduce the interest rate sensitivity in his portfolio. At some point you might not want to own utilities but thinks they are okay for the next couple of years.