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Roger Conrad

Managing Partner,

Capitalist Times

  • Co-Founder and Chief Editor of Capitalist Times
  • Publisher of Energy and income Advisor and Conrad's Utility Investor
  • MoneyShow Contributor Since 1989

About Roger

Roger 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 at Capitalist Times and author of the book Power Hungry: Strategic Investing in Telecommunications, Utilities, & Other Essential Services. Mr. Conrad is also an independent director of the NYSE-listed Miller Howard high-income equity fund and a contributing editor to

Roger's Articles

Investors have not yet woken up to the fact that energy is a growth business; our recommendations are in great shape to take advantage of a global oil and gas market where supply is likely to be chasing demand for years to come, points out Roger Conrad, editor of Energy and Income Advisor.
So far in 2024, the Dow Jones Utility Average lags the S&P 500 by nearly 10 percentage points. But over the past month, buying interest has picked up for at least a handful of portfolio companies. Southwest Gas Holdings (SWX) shares are up 30 percent in the past month, and it remains a buy on dips, advises Roger Conrad, editor of Conrad’s Utility Investor.
For conservative holding Brookfield Renewable (BEP), last year was the best for business yet. Funds from operations per unit increased 7.1 percent, supporting a 5.2 percent dividend increase — which could have been meaningfully higher had management not elected to accelerate investments, states Roger Conrad, editor of Conrad's Utility Investor.
In late 2022, Dominion Energy (D) announced a “top-to-bottom” strategic review. Management’s objective: To tackle three headwinds that were rapidly approaching hurricane force. The results of its efforts are now bearing fruit, writes Roger Conrad, editor of Conrad’s Utility Investor.

Roger's Videos

The so-called “magnificent seven” big tech stocks still get most of the attention when it comes to the artificial intelligence boom. But as they run out of steam following last year’s record gains, an up-to-now overlooked AI-linked sector is starting to pick up steam—electric utilities. Roger highlights top utility AI bets with an upside of 50% and more over the next year from this emerging great rotation.    

Despite a late-year rally, utility stocks were among the stock market’s worst performers in 2023. That’s about to change with a vengeance—whether the New Year brings a rising market with rapid sector rotation from bloated Big Tech, or a US recession and sell-off. The utility earnings Armageddon many predicted would result from rising interest rates never happened. Now rates are headed lower, and investment is set to keep driving growth. And best-in-class utilities earnings, dividends, and stock prices are gearing up for potentially their biggest year since 2000—when the Dow Jones Industrial Average returned more than 50%. Join 37-year industry veteran Roger Conrad as he highlights his top utility picks for 2024—as well as what to avoid. 

The past 18 months have been a wild ride for the energy market with oil trading over $100/bbl and under $70/bbl and US natural gas prices reaching 10+ year highs in the summer of 2022 only to crash under $2/MMBtu last spring. A year ago, the US and other developed countries were begging Saudi Arabia and the rest of OPEC for more supply; today the market is obsessed with how much, and for how long, the cartel I willing to restrict production to prop up prices.  In this session, Roger Conrad and Elliott Gue, will cut through all the noise and conflicting narratives about energy commodities and identify a handful of their top energy stocks to buy for 2024.

Resilient inflation means the tightest Fed policy since the 1980s isn't likely to reverse until the US economy enters a real recession. And that means the risk of another big leg down for stocks and bonds is rising daily. But there's also an emerging opportunity for investors to lock in monster returns, while others' portfolios evaporate. Here's where to look.

Newsletter Contributions

Conrad's Utility Investor

Roger Conrad has provided in-depth analysis of the utility sector to individual and institutional investors for more than 20 years. Conrad's Utility Investor is your complete guide to building a lifelong income stream from stocks that provide essential services.

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