THIS MONTH’S ISSUE
Our Thoughts on the Summer of Energy
Welcome to your new issue of the Energy & Income Advisor for June. I spent the weekend visiting Elliott Gue in Sunny Florida and we shared our thoughts on the energy markets. We'll be updating the portfolios later but right now we wanted to welcome you into our conversation. Just click the play button on the audio player below. We've also included a transcript for you that you can download in PDF format by clicking here. Don't forget to join us on our monthly Live Chat for subscribers next Thursday, June 26th at 2 PM Eastern. We look forward to seeing you there!
Live Chat
with Elliott Gue and Roger ConradOn 06/26/2025
What’s in the “Big Beautiful Bill” for Energy
Energy politics have been a top priority for the Trump Administration so far, just as they were for the Biden Administration before it. And it’s now rolled up many of its priorities in the so-called “Big Beautiful Bill” that passed the House of Representatives by a single vote last week—and is now being debated in the US Senate. Here’s our take on what’s in there now, what’s likely to be after the Senate has its say and what the impact is likely to be on the energy sector—particularly as regards investor returns. Q. What’s in the BBB for energy?...
Lower Energy Prices Raise Risks for Some
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...
Shale Discipline Reigns Supreme in Q1
Q1 results and guidance updates are all in for the companies in our Energy and Income Advisor Model Portfolio, as well as for the High Yield Energy List. Here’s what’s important. When we went to post last month, none of our recommended companies had yet reported. But on April 25, we highlighted results for four in our “Trending Topics” piece “Early Energy Q1 Returns: Shale Discipline in Force.” They were energy services companies Baker Hughes (NYSE: BKR) and SLB Ltd (NYSE: SLB), midstream Kinder Morgan Inc (NYSE: KMI) and leading refiner Valero Energy (NYSE: VLO). Since then, Baker Hughes shares...
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.
