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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

Oil: It’s Not 2014

Crude oil prices accelerated their recent downtrend this week. West Texas Intermediate Crude at Cushing Oklahoma, the North American benchmark, has now dropped from high 70s to mid 40s in less than three months.

Prices in more transportation-constrained basins have fared worse. Edmonton Mixed Sweet, for example, is now trading for less than $40 a barrel. WTI Midland is as well, $7 a barrel less than WTI Cushing as swelling Permian Basin output has swamped available pipeline capacity.

Given the pounding we’d already seen in many energy stocks before this selloff, investors can be forgiven for thinking the sector is headed for another 2014-16 crash. This issue is devoted to those concerns.

Our feature article focuses on both the supply side and the demand side, with comparisons to two periods of steeply falling oil prices:

• The Financial Crisis of 2008, a period when global demand fell off a cliff.

• The 2014-16 oil crash, when Saudi Arabia and other traditional producers tried to flush out US shale producers by dramatically increasing output to flood supply and drive down prices.

Endangered Dividends List

Altagas Ltd (TSX: ALA, OTC: ATGFF) cut its monthly dividend to 8 cents Canadian from the previous 18.25 cents, starting with the January 15 payment. We highlight the move as part of a strategic reset by management in the December 13 Alert “Altagas Resets for a Hostile Capital Market.” Kinder Morgan Canada (TSX: KML, OTC: KMLGF) announced its 2019 financial projections, which reflect the now closed sale of the Trans Mountain pipeline system to the Canadian government.

Focus on MLPs: Questions and Answers

How have MLPs recommended in Energy and Income Advisor fared year-to-date? Is there any reason to expect a better performance in 2019?

The table “EIA Energy MLP Performance” highlights master limited partnerships recommended in three places: Our Actively Managed Portfolio, the Focus List and the “legacy” portfolios that we continue to track on the EIA website.

Endangered Dividends List

The latest two EDL members to announce dividend reductions are Bonterra Energy (TSX: BNE, OTC: BNEFF) and Sanchez Midstream Partners (NYSE: SNMP).

Canadian oil and gas producer Bonterra is slashing its monthly payout from 10 cents Canadian to just a penny a share. That’s a direct consequence of a decline in its realized selling price for oil to just CAD21.50 per barrel from CAD77.20 since the end of the third quarter.

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

    Elliott and Roger on Aug. 27, 2019

  • 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

    • 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