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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

Where Are They Now?

Although Energy & Income Advisor is a relatively new publication, Elliott Gue and I have covered master limited partnerships (MLP) for more than a decade, watching the group slowly transition from a curiosity to a mainstream security class. We review some of our favorite MLPs from the past and present.

Bargain Hunting in Canada and Australia

Weakness in Australia and Canada’s equities and currencies has intensified flows into US stocks, reflecting investors’ concerns about global economic growth and resource demand in China and other emerging markets. At the same time, this shift in sentiment has lowered the bar of expectations for first-rate companies in both countries, giving savvy investors an opportunity to lock in above-average yields on some of our favorite dividend-paying names.

Lower expectations means that many of the stocks on our shopping last trade at their cheapest valuations in months. Although we can steer bargain hunters toward the names that have the strongest underlying fundamentals, forecasting when these markets will return to favor is an enterprise that’s fraught with peril; all these Australian and Canadian stocks could slip lower, especially if their local currencies continue to drop.

If you’re more comfortable investing in a space that has positive momentum, you should focus on energy-related master limited partnerships (MLP), a security class we covered at length in the previous issue of Energy & Income Advisor,

Growing Pains: MLPs Go Mainstream

The rhetoric underpinning many of the more than 60 presentations that we attended at the National Association of Publicly Traded Partnership’s annual investor conference was remarkably similar.

Midstream master limited partnerships repeatedly emphasized the progress they’d made increasing fee-based revenue and insulating cash flow against swings in commodity prices.

Meanwhile, management teams also highlighted their firms’ positions in the best shale plays, the number of blue-chip energy producers with which they have contracts, their low-risk expansion plans and forecasts for distribution growth.

To filter the barrage of information we gleaned during these presentations and subsequent breakout sessions with management teams, we opted to focus on two criteria: an MLP’s prospects for growth and its relative valuation. Over the course of two jam-packed days of presentations and meetings, we identified eight MLPs that trade at reasonable valuations across the risk spectrum. 

Going Steady

One of our goals heading into the National Association of Publicly Traded Partnerships’ (NAPTP) annual investor conference was to identify midstream names that hadn’t been bid to the moon but were more than capable of facing down whatever challenges had kept them out of the rally. 

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  • 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