THIS MONTH’S ISSUE
Six for 2026: Energy Forecasts to Bet On
Happy Holidays everyone! And thank you for reading Energy and Income Advisor. 2025 has been a tough year for oil prices. North American benchmark crude began 2025 in the low 70s. Now with just a couple weeks to go in the year, it’s struggling along in the high 50s with bearish sentiment thick. But it has been a good year for natural gas. And thanks to that, Energy and Income Advisor stocks have on the whole continued to build wealth. Not every portfolio stock gained ground this year. But we harvested a huge profit in uranium miner Cameco Corp (TSX: CCO, NYSE: CCJ) during the year. We let our profits run as Hess Corp (NYSE: HES) shares converted into Chevron Corp (NYSE: CVX) stock, when their merger closed this summer. And we cashed out of Occidental Petroleum (NYSE: OXY) near the year’s high point, moving the proceeds into higher potential Permian Resources (NYSE: PR) at a good price. For the most part, we stuck to our top recommendations in 2025. Our biggest winner was refiner Valero Energy (NYSE: VLO), returning over 40 percent year to date. Gas producer EQT Corp (NYSE: EQT) is up over 20 percent, while Expand Energy...
Live Chat
with Elliott Gue and Roger ConradOn 12/18/2025
Six Energy Forecasts for 2026
A year ago, we forecast 2025 would be the “Year of Natural Gas” for energy investors. Since then, the commodity’s price though volatile has been relatively strong, particularly against oil. And our producer stock recommendations have been even stronger, producing solid gains. Most important, we’ve seen the foundations laid for strong investment returns going forward, up and down the energy value chain. Shale production discipline remains in full force with best-in-class companies driving down their costs. And gas is squarely positioned for massive long-term opportunity to invest in growth of artificial intelligence adoption and the burgeoning LNG export sector, as...
Dividend Risk in 2026 Is All About (Unmanageable) Debt
Endangered Dividends List companies are vulnerable for one or more of the following reasons: Cash flow coverage of distributions is inadequate. Elevated debt levels with imminent refinancing needs. Revenue pressure triggered by weakness for at least one key asset. Inability to access the equity market on favorable terms to fund capital spending, forcing management to utilize more internally generated cash flow. Exposure to volatility in commodity margins from either rising or falling prices of raw materials. Aggressive general partners anxious to buy in limited partners’ cash flows at discounted prices. Regulatory reversals. Expiring contracts with little hope for renewals at...
Sticking with the Right Stocks
Energy stocks as a sector lagged the Big Tech weighted S&P 500 in 2025. But it was far from a lost year for portfolio companies, which by and large added to the gains of the last four years. Most also raised dividends. Here’s a brief look at how each of our EIA Model Portfolio and High Yield Energy List recommendations fared in 2025, with just a couple weeks to go in the year. We also highlight what we expect for returns in 2026. Baker Hughes (NYSE: BKR)—Buy<50 The leading drilling services and technology company posted strong business results all year,...
Meet Our Editors
Elliott H. Gue
Founder and Chief Analyst
Since earning his bachelor’s and master’s degrees from the University of London, Elliott has dedicated himself to learning the ins and outs of this dynamic sector, scouring trade magazines, attending industry conferences, touring facilities and meeting with management teams.
Roger S. Conrad
Founder and Chief Analyst
Roger S. Conrad has successfully advised income investors since the 1980s, with a nationally acclaimed sector specialty in utilities, telecommunications and energy. He’s a managing partner of Capitalist Times author of Power Hungry, independent director of NYSE-listed Miller Howard High Income Equity Fund and contributing editor to Forbes.com.
