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Roger S. Conrad
Roger S. Conrad needs no introduction to individual and professional investors, many of whom have profited from his decades of experience uncovering the best dividend-paying stocks for accumulating sustainable wealth.
Roger built his reputation with Utility Forecaster, a publication he founded more than 20 years ago that The Hulbert Financial Digest routinely ranked as one of the best investment newsletters. He’s also a sought-after expert on master limited partnerships (MLP) and former Canadian royalty trusts.
In April 2013, Roger reunited with his long-time friend and colleague, Elliott Gue, becoming co-editor of Energy & Income Advisor, a semimonthly online newsletter that’s dedicated to uncovering the most profitable opportunities in the energy sector.
Although the masthead may have changed, readers can count on Roger to deliver the same high-quality analysis and rational assessment of the best dividend-paying utilities, MLPs and dividend-paying Canadian energy names.
Articles
When Markets Wobble, Focus on Strong Businesses
By
Roger S. Conrad on
Apr. 7, 2025
As of Friday’s close, the S&P 500 was down roughly -17.5 percent from its late February high. That’s officially a correction, and the most dramatic decline since February/March of 2020.
Utilities and essential services stocks have fared somewhat better. Year to date, the Utilities SPDR ETF (XLU) has lost less than a percentage point. The three CUI Portfolios are well in the black, as are two-thirds of Utility Report Card companies—50 by a double-digit percentage.
NextEra Energy: Top Quality, Compelling Value
By
Roger S. Conrad on
Apr. 7, 2025
US demand for electricity is projected to grow six-fold over the next 20 years. And no power company is better positioned to benefit than Florida-based NextEra Energy (NYSE: NEE).
The company is best known as America’s largest producer by far of energy from solar, wind and battery storage. But it’s also the seventh largest nuclear power developer and operator in the world. That includes 4 plants selling into wholesale markets, with the shuttered Duane Arnold facility in Iowa now reopening.
Telus Corp: High Yield with a Canadian Accent
By
Roger S. Conrad on
Apr. 7, 2025
Rising free cash flow as 5G wireless and fiber broadband expansion reaches targets. More favorable regulation, regardless of what party wins upcoming Canadian elections. Rapid artificial intelligence growth in partnership with NVIDIA (NSDQ: NVDA), and a building West Canada energy boom:
All are driving growth at Canadian communications company and new Aggressive Holding Telus Corp (TSX: T, NYSE: TU).
Crown Castle Cuts, Who’s Next?
By
Roger S. Conrad on
Apr. 7, 2025
Elevated debt has claimed another dividend: Communications infrastructure operator Crown Castle (NYSE: CCI) announced last month it will cut its quarterly dividend from $1.565 to $1.0625 per share, starting with the June payment.
The -32 percent “re-set” reflects the earnings loss from the sale of real estate investment trust Crown Castle’s fiber broadband and “small cell” operations in two separate deals for “aggregate proceeds” of $8.5 billion. Management expects to use $3 billion of that to fund a share buyback plan, the rest to pay down credit lines and make a dent on $23 billion plus of long-term debt.
Big Declines are Bullish for Stocks with Pricing Power
By
Roger S. Conrad on
Apr. 7, 2025
Even on washout trading days like April 4, 2025, some stocks gain ground.
Friday’s Utility Report Card winners were basically a handful of non-US stocks. The long-lagging utility sector has gained strength since featured in the February issue.
Tariffs and Trade Barriers: Where Utilities Stand
By
Roger S. Conrad on
Apr. 7, 2025
Call it “Liberation Day” or the “Greatest Economic Own Goal in History.” The Trump Administration’s tariffs on substantially everything Americans buy will have an impact.
That realization has now sunk in for the stock market. Down roughly -18 percent from its late February peak, the S&P 500 is now firmly in correction territory. That’s defined as a drop of at least -10 percent from the most recent high.
Utility Strong, Doom or Boom
By
Roger S. Conrad on
Mar. 10, 2025
The stock market’s post-election bump has flattened. But utilities are holding firm so far this year, well in the black and running ahead of the S&P 500. There are exceptions. With the Federal Reserve keeping benchmark interest rates higher for longer, many investors are understandably reluctant to own companies with higher levels of debt. Sempra Energy (NYSE: SRE) took a hit last month when management cut 2025 earnings guidance, though management actually raised the utility’s long-term growth projections. Worries about politics and fallout from California’s worst-ever wildfire season are still roiling some stocks.
Eversource Energy: Safe, Investment-Driven Utility Growth
By
Roger S. Conrad on
Mar. 10, 2025
Being on the same page with state regulators is priority one for utilities’ ability to invest and grow. And Eversource Energy (NYSE: ES) is on very firm ground, after extending guidance through 2029 for 5 to 7 percent annual earnings and dividend growth.
The company raised its five-year investment plan by 10 percent to $24.2 billion last month. The key driver is $7 billion for transmission grid hardening and connecting “diversified energy resources to the grid.”
Algonquin Power & Utilities: The Comeback Continues
By
Roger S. Conrad on
Mar. 10, 2025
From post-Three Mile Island General Public Utilities in the 1980s to PG&E Corp (NYSE: PCG) this decade, no regulated US utility has ever failed to recover from disaster. And battered Aggressive Holding Algonquin Power & Utilities (TSX: AQN, NYSE: AQN) won’t be the first.
Understandably, many are skeptical. Algonquin appeared to hit bottom in early 2023, cutting its dividend by -40 percent and launching a full strategic review of the business. But results announced last summer included another -40 percent cut. And in January, the stock hit its lowest point in over nine years.
Strong Earnings and Guidance Good Reasons to Stock Up
By
Roger S. Conrad on
Mar. 10, 2025
Doom or boom: The stock market of early 2025 can’t seem to make up its mind. Last week ended on a good note for most of the Utility Report Card coverage universe. And several Portfolio stocks are already sitting on sizeable year-to-date gains. Those include...
MODEL PORTFOLIOS & RATINGS
Aggressive Income Portfolio
Roger's favorite utilities for investors seeking superior price appreciation by taking calculated risks.
Conservative Income Portfolio
Harness the tried and true wealth-building power of rising dividends.
Top 10 DRIPs
Nothing compounds wealth like reinvesting a rising stream of dividends.
Endangered Dividends List
Warning: Falling Dividends.
Utility Report Card
Roger's current take and vital statistics on more than 200 essential-services stocks.
Conrad's Utility Investor
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