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Investing Topics: Propane

More Fires in California, Amerigas Still Solid

By Roger S. Conrad on Nov. 14, 2018
This year's autumn rains are late arriving in bone-dry California, resulting in another season of devastating fires. Smoke from the massive “Camp Fire” in northern California currently shrouds San Francisco and the ongoing Edison Electric Institute's annual Financial Conference in the city’s downtown area. Executives from PG&E (NYSE: PCG), the utility serving the affected region, withdrew from the conference to deal with the crisis.

Propane Distributors: Unloved Big Yields and Ripe for M&A

By Roger S. Conrad on Aug. 5, 2018
Canada’s Superior Plus Corp (TSX: SPB, OTC: SUUIF) generated few headlines last month, when it paid $900 million for NGL Energy Partners’ (NYSE: NGL) propane distribution business. However, this merger is highly remarkable for three major reasons.

A Trip to the Big-Yield Store

By Roger S. Conrad on Mar. 5, 2018
Like a moth to a flame, income-seeking investors often gravitate toward the biggest yields; all too many end up getting burned.

In Scale We Trust

By Roger S. Conrad on Jun. 10, 2017
Superior scale gives this propane distributor a big competitive advantage.

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.

AmeriGas Partners LP: Value in Propane Distribution

By Roger S. Conrad on Sep. 13, 2014
Historically, propane distributors’ profits have been challenged by unpredictable weather, volatile wholesale prices, competition from natural gas and an extremely dispersed customer base. In the past, these obstacles translated into erratic returns for shareholders. The industry’s solution: Increased scale through consolidation. Propane distributors—mostly master limited partnerships (MLP)—continue to consolidate, expanding their geographic reach and improving their purchasing power. These efforts have resulted in steadier sales and boosted margins.

A Study in Contrasts

By Roger S. Conrad on Jul. 9, 2014

The outlook is much brighter for this utility's foray into solar, and for one of our closed-end funds. Unfortunately, other companies still face serious challenges.

Six Values for an Aging Bull Market

By Roger S. Conrad on Jul. 9, 2014

At last count, more than half our Portfolio holdings traded above my buy targets. These are all great companies that will continue to build wealth for investors, but now is the time for discipline.

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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