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Portfolio Update

Living up to Expectations

By Roger S. Conrad, on Apr. 17, 2014

Low Expectations Lead to Big Returns

Lifelong Income Portfolio holdings Total (Paris: FP, NYSE: TOT) and Entergy Corp (NYSE: ETR) have managed to beat investors’ expectations in recent quarters, propelling both stocks above our buy targets.

In the previous issue of Capitalist Times Premium, we cut Total to a hold and suggested that investors take some of their profits off the table and let their initial investment ride.

Results from Chevron Corp (NYSE: CVX) suggest that Total’s refinery operations likely suffered some margin compression in the first quarter; investors who haven’t already done so should consider taking some profits while maintaining some exposure to the stock.

Meanwhile, Entergy’s regulated utility business likely benefited from the cold winter weather, which stimulates demand for electricity, and firming prices for wholesale power in the Northeast.

Once we kick the tires on the utility’s first-quarter numbers and listen to management’s earnings call, we’ll have a better sense of whether the stock warrants a higher buy target.

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