Elliott Gue and Roger Conrad’s Complete Guide to

Energy & Income Investing

Over 50 years of combined experience in analyzing the energy markets!

THIS MONTH’S ISSUE

Oil Turns Bullish, Energy Stocks Stay Strong

September 25, 2024|

We invite you to join us at the Orlando MoneyShow, where we’re presenting on Thursday October 17. Hope to see many of you there in person! Thanks for reading.—EG, RC. Oil and natural gas prices remained under pressure the last month. Benchmark crude oil futures dipped under $70 a barrel earlier this month, for the first time since last December. Equivalent natural gas is still well off its spring lows, when the fuel’s price dipped briefly under $1.50 per million BTU. But we’ve yet to see a sustained break above the $3 mark, a minimum level for many producers to consider ramping up output. We think the bottom is in for now for both commodities. And we look for a sustained uptrend to resume this year. One reason is simply that expectations could scarcely be lower. We note that futures speculators’ net position in oil was recently more bearish than it was in 2020, at the height of the pandemic year impact on demand. That’s a tacit forecast for global demand to collapse over the next 6 to 12 months, with China’s disappointing growth and election year jitters no doubt looming large. But to our eyes, it’s a pretty clear...

Live Chat

with Elliott Gue and Roger Conrad

On 10/29/2024

Live Chat with Elliott Gue and Roger Conrad

Talking Top Energy Stocks: Oil, Gas, Uranium and Coal Breakdown

By |October 10, 2024|

I sat down yesterday with Steve Barton of In It To Win It  for a deep dive on the energy sector. We talked about major trends in oil, natural gas, uranium, and coal, with insights into how these commodities are shaping up for the rest of 2024 and into 2025.

Endangered Dividends List

By |September 25, 2024|

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...

Portfolio Strategy: Dividends Grow, Stocks Follow

By |September 25, 2024|

Just because a company raises its dividend doesn’t mean its underlying business is necessarily strong. And we’ve always been skeptical of lists of “Dividend Aristocrats” and the like—often published in big investment media—that tout stocks with decades-long records of raising payouts every year. But in the case of the stocks in our Model Portfolio and High Yield Energy List, systematic and accelerating dividend increases are an unmistakable sign of inner strength. And they’re a big reason why we want to own them this energy up cycle. Too much debt combined with weaker industry conditions produced 100 plus dividend cuts in...

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.

Go to Top