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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

International Opportunities

After updating our commentary and ratings for the more than 80 stocks in our International Coverage Universe, we continue to favor midstream names that offer exposure to volumetric growth stories and our top bets on renewable energy. All offer above-average yields that should juice investors’ total returns.

Even better, Canadian pipeline owners have operated more conservatively than their US counterparts and boast stronger balance sheets.

Ongoing takeaway constraints mean that crude oil, natural gas, and natural gas liquids produced in Alberta continue to fetch significantly lower prices than their US benchmarks. These wide price differentials represent a headwind for Canadian oil and gas producers, but underscore the opportunity set for midstream operators.

An International View

After updating our commentary and ratings for the more than 80 stocks in our International Coverage Universe, we continue to favor midstream names that offer exposure to volumetric growth stories and our top bets on renewable energy. All offer above-average yields that should juice investors’ total returns.

Trends Favor Midstream

In this environment, we prefer midstream names that offer the best leverage to volumetric growth stories and have the balance sheet strength to pursue joint ventures with cash-strapped rivals. Not only do these MLPs pay generous yields that can improve your total return during periods of volatility, but the most recent down-cycle also prompted many midstream operators to take the necessary steps to put themselves on a more sustainable path by cutting their distributions and paying down debt. We highlight our favorites and dream prices for period of heightened volatility.

On the Prowl at the MLP Association’s Annual Investor Conference

Over the past 12 months, the difference between the top and bottom performers in the Alerian MLP Infrastructure Index amounted to about 60 percentage points. Capturing this upside requires on-the-ground intelligence, which is why we attend the MLPA Association’s annual investor conference every year.

Northern Exposure

Canadian oil and gas producers continue to contend with lower price realizations than their counterparts south of the border, reflecting intensifying competition from US shale plays and, in the case of crude, takeaway constraints.

This challenging environment means that investors should place a premium on quality and remain disciplined.

In the upstream space, Canadian Natural Resources (TSX: CNQ, NYSE: CNQ) and Suncor Energy (TSX: SU, NYSE: SU) continue to consolidate and build economies of scale as integrated oil companies and diversified independents seek to monetize their oil-sands assets.

Based on current valuations and the macro outlook, we continue to prefer best-in-class midstream operators and power producers for investors looking to add exposure to Canada’s energy patch. Many of our favorite Canadian midstream players also tend to trade with less volatility than their peers in the US.

More important, Alberta’s Climate Leadership Plan, which calls for the province shutter its coal-fired power plants by 2030, creates a longer-term opportunity for low-cost natural-gas producers and midstream operators to grow their volumes. We break down the names that are best-positioned to take advantage of this shift. Investors should also check out our International Coverage Universe for update comments and ratings.

Highlights From The International Portfolio And Coverage Universe

The International Portfolio’s conservative sleeve posted an average total return of 24.2 percent in 2016, while our aggressive picks gained an average of 48.9 percent. Their fortunes have reversed this year: Our conservative holdings have gained an average of 4.9 percent, while our aggressive picks have lost 5.2 percent. This shift reflects investors taking a risk-off approach after last year’s big run-up in commodity-sensitive names. We highlight some of our favorite international stocks for conservative investors as well as a few interesting speculations.

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  • Live Chat with

    Elliott and Roger on Oct. 30, 2017

  • Portfolios & Ratings

    • Model Portfolios

      Balanced portfolios of energy stocks for aggressive and conservative investors.

    • Coverage Universe

      Our take on more than 50 energy-related equities, from upstream to downstream and everything in between.

    • MLP Ratings

      Our assessment of every energy-related master limited partnership.

    • International Coverage Universe

      Roger Conrad’s coverage of more than 70 dividend-paying energy names.

    Experts

    • Roger S. Conrad

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor

    • Elliott H. Gue

      Founder and Chief Analyst: Capitalist Times and Energy & Income Advisor

    • Peter Staas

      Managing Editor: Capitalist Times and Energy & Income Advisor