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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

The High Prices of High-Yield Bonds

By Roger S. Conrad on Jun. 16, 2016
Our basket of fixed-income securities has done well, thanks to the rally in bond prices.

06/14/16: Cutting Risk

By Roger S. Conrad on Jun. 14, 2016
The recent rally in energy stocks gives us an opportunity to exit two of the riskier names in our model Portfolios.

A High Bar of Expectations

By Roger S. Conrad on Jun. 12, 2016
The Dow Jones Utilities Average finished the week at a record high and the index’s price-to-earnings ratio has blown out to levels last seen in early 2008. Although this froth in the market increases the bar of expectations for utility stocks and heightens the risk of a pullback, our favorite utilities enjoy ready access to low-cost capital and ample opportunity to grow their rate base through investments in renewable energy, pipelines and gas-fired power plants. The recent momentum driving utility stocks higher reflects concerns about the US economy and the market’s growing realization that the Federal Reserve will struggle to raise interest rates this year. In this environment, investors gravitate toward utilities’ resilient cash flow and above-average dividend yields. Whereas reliable earnings are enduring features of regulated utilities, the influx of capital driving these stocks to new highs rests on something far more fickle: investor sentiment. When momentum investors find an excuse to take profits off the table, the sector will take a hit, regardless of underlying fundamentals. In this environment, investors should take advantage of the rally to exit riskier names, take some profits off the table in their winners (14 Portfolio holdings trade above our buy targets) and assemble a shopping list of stocks to buy when the inevitable pullback occurs.

Momentum, MLPs and Mergers

By Roger S. Conrad on Jun. 12, 2016
Momentum has carried utility stocks to historically high valuations, limiting the number of attractive buying opportunities. Master limited partnerships have also rallied hard from their nadir in February, but stock selection will become increasingly important going forward.

In Transition

By Roger S. Conrad on Jun. 12, 2016
This Aggressive Income Portfolio holding stands to benefit from Australia's transition to clean energy.

Assets in All the Right Places

By Roger S. Conrad on Jun. 12, 2016
Investments in solar power, the electricity grid, pipelines and gas-fired power plants will drive earnings and dividend growth at this utility over the next five years.

Rally in Energy Prices Brings Relief

By Roger S. Conrad on Jun. 12, 2016
Sometimes a rising tide lifts all boats. The sharp recovery in oil and gas prices since mid-February has convinced all too many investors that the risk of further distribution cuts among energy-focused master limited partnerships (MLP) has declined. The immediate response to the indiscriminate selling of late 2015 and early 2016 has been a wave of indiscriminate buying. But selectivity will be critical going forward.

Aging Bull

By Roger S. Conrad on Jun. 11, 2016
Many of our Portfolio holdings have rallied hard over the past months, giving investors another opportunity to exit weaker names and take some profits off the table in their big winners.

M&A Analysis: Great Plains Energy and Westar Energy

By Roger S. Conrad on Jun. 8, 2016
The minimal premium involved in Great Plains Energy's proposed takeover offer for Westar Energy underscores how stretched valuations have become in the utility sector.

Digging Deeper into MLPs

By Roger S. Conrad on May. 26, 2016
After plunging almost 50 percent from early May 2015 to mid-February 2016, the Alerian MLP Index has defied the critics and torched slow-to-react short sellers by surging 45 percent since its nadir. But the easy money has been made: Investors must now focus on which names are best-positioned to grow in an environment where energy prices remain lower for longer.

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