Yesterday morning I put in a limit order to pick up 34 more shares of Kinder Morgan, Inc (KMI) at a price of $33.35. It would have triggered early in trading but I didn't put in the order until later in the morning after the price had already recovered. As it turns out right before the close of the markets the order was filled. I was able to average down in my KMI position for a second time with this purchase and now own a total of 125 shares and will be done adding to the position barring a pullback to around $31 or $32.
The new addition has a YOC of 4.29% and will add an additional $48.96 per year in dividends if they keep the latest quarterly dividend the same for the next four payouts which management has stated they are targeting a 12.5% annual increase in their payouts through 2015. Unfortunately I won't be receiving their next dividend payment on these shares since the record date just recently passed. By averaging down in the position I was able to decrease my overall cost basis in KMI by 1.07%. The average share price for my shares now sits at $34.58.
My forward 12-month dividends for my FI portfolio now sit at $1,396.57. My YOC for the entire portfolio increased from 2.88% to 2.92%.