Income Insights

The top two companies that dominate this essential service industry have combined market capitalization of $440 billion and annual revenue of $300 billion plus, but still trade for an average of just 10 times expected 2020 earnings. They clearly suffer from the burden of low expectations.

Elections always have consequences. They’re just rarely what investors think they will be—and almost never what’s declared beforehand in popular investment media.

Not even rock-solid business resilience to Covid-19 fallout has been enough to swing US electric utilities from laggards to leaders this year. But another wave of mergers and acquisitions just might do the trick.

Everyone loves a bargain. But when a stock trades at a big discount to market or sector averages, there’s always a reason. And to move to a higher price, the company must face its challenges.

Is the world’s economic cup half empty or full? With the fog of the November election campaign season fully descended, politics is affecting how many are answering that question.

The numbers were never going to be pretty for North American energy midstream companies. Management teams warned this spring that Covid-19 fallout was crushing volumes on both the upstream and downstream ends of the business. But with Kinder Morgan Inc. (NYSE: KMI) clearly managing these turbulent times, investors can afford to remain patient with this sector.

Chevron Corp (NYSE: CVX) and Sunrun Inc (NSDQ: RUN) are weathering industry challenges far better than most rivals, positioning them on the leading edge of a building wave of energy mergers and acquisitions.

The key for investors isn't the fate of one pipeline or another. It's how well-positioned companies are to handle a setback at an asset they own or are building. We win by focusing on the handful of companies that are best-positioned to emerge from this shakeout.

After a robust decade and a half following 1996 deregulation, large US telecom M&A had virtually evaporated. The exception: T-Mobile US’ (NSDQ: TMUS) merger with Sprint, which closed April 1, 2020.

From shuttered stores and offices to surging unpaid rents, US landlords have suffered a body blow this year. And there’s more turbulence ahead, from short-term cash shortfalls to big changes in tenant preferences. But American property is hardly down for the count.