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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

Endangered Dividends List

There were no dividend cuts announced in our coverage universes since the previous issue of Energy and Income Advisor. That’s because declaration dates for winter payouts aren’t until next month. But there is growing reason to expect far fewer reductions this year than in 2020, or in fact any year since oil prices first broke under $100 per barrel for the cycle back in mid-2014.

Portfolio: From the Bottom Up

Brookfield Renewable Corporation (NYSE: BEPC)—the C-Corp spinoff of Brookfield Renewable Energy Partners (NYSE: BEP)—has returned nearly 110 percent since hitting the market on July 24. That pairs with the more than 70 percent return in Brookfield’s limited partnership units.

Eyes on the Energy Cycle

Sustained crude oil prices in the $50 to $60 per barrel range next year might not sound like a big deal. In fact, it wouldn’t represent much of a gain from the mid-to-high 40s range held by North American benchmarks lately. And Brent crude is already mostly there, depending on what measurement you use.

A return to that level of oil prices in 2021 would, however, represent a massive change from the environment of the past year. And it would be a major departure from the generally downtrending direction of prices since the energy bear market began way back in 2014.

More important, our view is 50s oil would also be a powerful catalyst for a shift in investor psychology regards the energy sector. It’s true that we’ve seen that level before many times in the past six years. And while a bounce to $50 plus was enough for many energy stocks to stage a big recovery in 2016-17, staying there wasn’t to prevent flat lining and later falling share from second half 2019 into 2020.

Endangered Dividends List

There have been no additional dividend cuts in our Energy and Income Advisor coverage universe since the previous issue posted. Unfortunately, that’s the result of being in between quarterly earnings reporting and dividend declaration dates, rather than any real signs of strength from the companies on our list.

We have become more confident in the ability of several EDL companies to hold payouts level in 2021. That’s induced us to upgrade them to buys, despite remaining risk.

Portfolio: Surveying November Gains and a Tax Loss Strategy

Despite backing off about 7 percent on the last day of the month, shares of Concho Resources (NYSE: CXO) finished November up nearly 40 percent from where they started. The rally followed a solid Q3 earnings report in late October, which was released about a week after the announcement that ConocoPhillips (NYSE: COP) would acquire the company at the ratio of 1.46 COP per share of CXO.

Of Earnings and Elections

Ok, we’ll admit it. Keeping up with the current daily news feed of election results is far more exciting than scouring companies’ Q3 earnings for clues on their business health. And if you’re a media outlet, Elections 2020 has been the gift that keeping on giving.

But when it comes to positioning for an energy sector comeback in 2021, your time is going to be much better spent focusing on key numbers and management guidance. In fact, we doubt results of this election will wind up mattering much if at all when it comes to investor returns for the stocks we recommend here in Energy and Income Advisor.

Endangered Dividends List

Three companies on our Endangered Dividends List slashed their payouts since the previous issue went to post. None of these moves was unexpected, but only Energy Transfer’s (NYSE: ET) 50 percent reduction was enough for the company to escape the EDL. Still a member of our High Yield Energy List, the company’s generally positive Q3 results and guidance are highlighted in the Feature article.

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  • Live Chat with

    Elliott and Roger on Oct. 28, 2021

  • Portfolios & Ratings

    • Model Portfolios

      Balanced portfolios of energy stocks for aggressive and conservative investors.

    • Producers and Drillers

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

    • MLPs and Midstream

      Our assessment of every energy-related master limited partnership.

    • International Coverage

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

    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