Owners of Linn Energy (LINE) and LinnCo (LNCO) most certainly had a good run last week. On Wednesday, Linn Energy surged over 10% when the company provided an update to its planned merger with Berry Petroleum (BRY). This should be considered good news as it is basically "an expression of confidence" from the companies that this will be the final round of comments from the SEC and that a shareholder vote is around the corner. Also, on Thursday, Linn Energy announced a major acquisition of oil and natural gas properties in the Permian Basin. Combined, these announcements sent shares of Linn Energy about 16% higher for the week. Linn Energy currently offers a $0.2416 monthly distribution, or $2.90 annually, which equates to a yield of 10.30%.
Full article: http://seekingalpha.com/article/1696232 ... urce=yahoo
I believe LINE will get a major boost when they close on the acquisition of BRY, which I think will happen in the next couple months.