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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

Berkshire Utilities’ Next Big Utility Bite

By Roger S. Conrad on Apr. 19, 2019

Whatever happens to Berkshire Hathaway will have huge consequences not just for shareholders, but for the industries it operates in as well - including electricity.

Utilities Have Momentum, We Stay Focused on Value

By Roger S. Conrad on Apr. 8, 2019

2019 has started out with a bang for utilities and essential services stocks. The Dow Jones Utility Average’s 10.2 percent first quarter return was one of its best showings in history. And the 38 stocks in our Conservative Holdings, Aggressive Holdings and Top 10 DRIPS are higher by 15 percent.

This positive momentum is certainly a welcome change from lackluster 2018, and particularly the vicious fourth quarter selloff. But it also brings reasons for investors to be wary.

First, really big openings followed by fantastic finishes are extremely rare for utilities, the most recent being in 2000. Typically, stock prices level off in the following months. I’m encouraged that our Portfolio gains were more driven by positive business developments at individual holdings than the sector surge. But with the DJUA marking a new all-time high last month, utility valuations are back in the stratosphere.

From all indications, most Utility Report Card companies should report strong first quarter earnings and guidance updates in the coming weeks. But catalysts for further upside now face a high bar. It’s also noteworthy that more than a few best in class names lagged in the first quarter, despite very strong business performance.

As I pointed out in the March 21 Income Insights “The Fed Turns a Page,” the Federal Reserve’s decision to terminate its monetary tightening cycle carries a huge positive for capital intensive companies like utilities: A big drop in borrowing costs that’s provided a fresh opportunity to lock in cheap, long-term financing. This month’s Utility Report Card comments highlight this advantage, as well as analysis of other Quality Grade criteria.

Riding the Electric Utility Renaissance

By Roger S. Conrad on Apr. 8, 2019

Over four decades from the mid-1960s through the mid 2000s, US electricity demand more than quadrupled. Since the Financial Crisis of 2008, however, consumption has basically flat-lined.

Brookfield Renewable: Another Coup for Conservative Growth

By Roger S. Conrad on Apr. 8, 2019

There’s no faster way to grow a business than by making acquisitions. The trick few master is finding deals with upside from simply following core competencies, and made at the right price. But neither has been a problem for Conservative Holding Brookfield Renewable Energy Partners (TSX: BEP-U, NYSE: BEP).

Suburban Propane Partners: 10% Yield with Takeover Potential

By Roger S. Conrad on Apr. 8, 2019

When it comes to MLP distribution cuts, lightening often has struck several times in the same place. So it’s no wonder investors have been skeptical about Suburban Propane Partners’ (NYSE SPH) 10 percent plus distribution, since management took the hard step of a -32.4 percent reduction in late 2017.

After a Hot Start, Stay Cool

By Roger S. Conrad on Apr. 8, 2019

It’s been decades since utility stocks started a year this fast. But while the Dow Jones Utility Average’s 10 percent plus first quarter return is certainly preferable to what we saw last year, we suspect that staying cool after 2019’s hot start will prove critical as the rest of the year unfolds.

Two Dividend Cuts, Three EDL Exits

By Roger S. Conrad on Apr. 8, 2019

Three companies exit the Endangered Dividends List this month: propane distributor Amerigas Partners (NYSE: APU), telecom equipment REIT Uniti Group (NSDQ: UNIT) and closed-end fund Kayne Anderson MLP/Midstream (NYSE: KYN).

MODEL PORTFOLIOS & RATINGS

ABOUT ROGER 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 b