POW

High quality company. It is one we used to feature on the Bull List but removed it when its valuation got to the point we felt it didn't have much more upside. I believe that was in late 2021, and it then went through a multi-year drawdown.

The company is back to what I view as fairly valued. I think it's a relatively strong buy and hold during an environment like this. It has a ton of high quality assets, the dividend is well covered, and it should be able to continue growing at a low single digit pace while providing a mid single digit dividend yield.