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Feature Article

Brookfield Renewable: Building Scale Affordably for Reliable Growth

By Roger S. Conrad on Jul. 10, 2023

Not once since its November 1999 IPO has Brookfield Renewable Partners (TSX: BEP-U, NYSE: BEP) ever cut its dividend. Nor has the company missed an annual increase since 2009—when the rate was held flat following Canada’s death sentence for income trusts.

Southwest Gas Holdings: A Compelling Sum of the Parts

By Roger S. Conrad on Jul. 10, 2023

Last year, Southwest Gas Holdings (NYSE: SWX) shares soared above $90, my “consider taking profits” price listed in the “Portfolio Holdings Trading Above Target” table. We would have done better selling it all.

What’s Important About First Half Winners and Losers

By Roger S. Conrad on Jul. 10, 2023

It’s been mostly more of the same for investment markets this past month, just as has been the case for most of this year.

For Dividend Safety Watch the Debt

By Roger S. Conrad on Jul. 10, 2023

Thus far in 2023, seven Utility Report Card companies have announced lower dividends than they paid in 2022. None, however, have done so since March. And 97 have raised payouts at least once, with three-dozen more ready to follow their lead.

Picks and Pans for Second Half 2023

By Roger S. Conrad on Jul. 10, 2023

So far, 2023 has been a great year to own the biggest technology stocks—but little else. The Nasdaq 100 is up roughly 38 percent year-to-date. And the 7 stocks that dominate it have lifted the S&P 500 by 15 percent.

Hannon Armstrong: Growing Fast, Deeply Discounted

By Roger S. Conrad on Jun. 12, 2023

The last 18 months have been rough going for financial companies. And unfortunately, that’s when we re-entered Hannon Armstrong Sustainable Infrastructure Capital (NYSE: HASI), a business development company specializing in renewable energy and efficiency projects. Organized as a REIT for tax reasons, Hannon has more than doubled its total assets since 2019. And management reporting year-over-year increases in Q1 of 25 percent and 15 percent in its portfolio and managed assets, respectively. Distributable net income per share stayed on track with guidance for 10 to 13 percent annual growth, fueling robust dividend increases of 5 to 8 percent.

Edison International: Rock Solid and Ready for Wildfire Season

By Roger S. Conrad on Jun. 12, 2023

California’s wildfires are getting worse. The state’s electric power grid, however, is systematically becoming more resilient. From 2019-2022, for example, cumulative structures destroyed by wildfires linked to Edison International’s (NYSE: EIX) southern California system were 96 percent less than in the 2017-18 period. And as a result, the company’s post-2018 wildfire liabilities not covered by insurance have been immaterial, versus $8.8 billion incurred in 2017-18.

With Markets In Flux Focus on the Micro

By Roger S. Conrad on Jun. 12, 2023

The headline may sound counterintuitive. But paying attention on what you can control has consistently proven to be the best way for investors to stay whole in tough times, while positioning for the recovery that always follows. The best metaphor for the current stock market is a small group of generals leading an impressive-looking advance, but with a rapidly diminishing number of troops behind them. We know from history that these things have always ended badly. But while they last, it’s increasingly difficult for investors to resist their pull.

No Cuts But 3 Telecoms Get Closer

By Roger S. Conrad on Jun. 12, 2023

First the good news: No companies in our Utility Report Card coverage universe announced dividends cuts last month. The bad news is none escaped the Endangered Dividends List. And in fact, the situation for several worsened, raising odds of cuts. That includes especially the three communications stocks: Telephone and Data Systems (NYSE: TDS), Uniti Group (NSDQ: UNIT) and Vodafone Group (London: VOD, NYSE: VOD).

Utilities, Telecoms and the AI Boom

By Roger S. Conrad on Jun. 12, 2023

A couple months ago, the stock market appeared headed for a relapse of potentially epic proportions. Founded on the premise the Federal Reserve’s battle against inflation had been won, the early 2023 rally was fizzling, as it became clear the central bank wasn’t relenting. The banking system had revealed some fairly large cracks, with the demise of SVB seeming to spread to regional banks in general. And the federal government was lurching toward a first ever default.



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