• Twitter
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • 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

Energy Stocks: Earnings Power and M&A Mean it’s Still a Time to Build Positions

Phillips 66 (NYSE: PSX) is offering $34.75 per unit in cash for DCP Midstream (NYSE: DCP) it doesn’t already own. That follows Phillips’ swap of crude oil assets for natural gas related infrastructure owned by Canadian midstream company Enbridge Inc (TSX: ENB, NYSE: ENB).

For both companies, this deal making is about increasing scale and therefore efficiency in areas they’ve chosen to focus on. For Phillips, consolidating DCP follows the pattern of its 2021 buyout of Phillips 66 Partners, reducing cost of capital to fund further expansion. And S&P has now upgraded DCP Midstream’s credit rating to BBB+ from BBB- in anticipation of full asset integration.

A Recession Won’t Repeal the Energy Cycle

Let’s be clear. Neither oil and gas prices nor energy stocks will be immune if the global economy slides into recession later this year. And damage to prices would be compounded if Russian, Iranian and/or Venezuelan oil re-enters the market in a meaningful way.

But that said, what the Federal Reserve and other central banks are attempting now to quell inflation will not end the energy up-cycle that began in spring 2020. Neither would a return to the market of supply from what are currently pariah countries.

In fact, any energy sector retreat we see in coming months is far more likely to result in the long-term cycle being both longer and stronger. And means much higher prices for favored stocks than we saw at the top of the up-cycle that ended in 2014.

Subscribe today to receive a sample issue of EIA
  • Live Chat with

    Elliott and Roger on Sep. 27, 2022

  • Portfolios & Ratings

    Experts

    • Elliott H. Gue

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

    • Roger S. Conrad

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