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Bill
4:28
Hi Roger,  Could you give a listing of all the services you offer, with a short description of each and it's cost.  You've mentioned several today. Thanks, I appreciate all your efforts.
AvatarRoger Conrad
4:29
Thanks Bill, appreciate the question. Here's the current lineup and new subscriber prices. I want to add that we never charge a reader more than the price they come in on, that's our forever guarantee.
4:31
CUI with CUI Plus ($495/yr)--essential services stocks and fixed income with a primarily long-term focus, monthly issues plus commentary throughout the month as Alerts, Income Insights and Utility Roundup, chats, etc.
4:32
Energy and Income Advisor ($645/yr)--twice monthly issues plus commentary and alerts throughout the month, monthly subscribers only chats. All things energy. Actively Managed Portfolio, High Yield Energy List, coverage universes for MLP, Canada/Australia energy, major shale and US companies
4:33
Deep Dive Investing ($999/year)--multi-media issues, covers the investment waterfront, options portfolio, Actively Managed Growth and Income Portfolios, special reports for subscribers (REIT Sheet, etc)
4:34
Pig Versus Bear ($1,999/year)--trading service, covers investment waterfront, alerts as needed for trades, weekly updates, monthly investment webinars with editors, includes wide ranging Q&A
4:35
We also publish a pick of the month service and a variety of free content.
4:36
Thanks again for that question. If anyone is interested in any of these products, please call
4:37
our customer services manager Sherry Roberts at 1-877-302-0749, Monday-Friday, 9-5 pm.
or write to service@capitalisttimes.com
Herm
4:37
In the August issue you commented on ET but that was before the release of earnings. This is not the best time for MLP's,but do you still like ET for purchase in this market? If it holds up an 9% yield is good company while waiting for some improvement.
AvatarRoger Conrad
4:41
I actually think this is the best buying opportunity for MLPs we're likely to see anytime soon. And in the case of MLPs like Energy Transfer (NYSE: ET), it's actually a far better time than early 2016 when share prices had fallen with oil and gas prices. That's because unlike then the companies have adapted to that lower for longer pricing environment we've been talking about since 2014. They've cut distributions, cut debt and pared back operations and growth plans to a conservative level. What's left is very hard targets that are  priced as though they're on the brink of collapse as they were in 2016. Regarding ET itself, those were some very strong earnings. I will have a full comment in the September issue along with other companies in the coverage universe that had not reported.
4:43
But the coverage ratio says it all at 2X, with DCF up 23% as new projects came on stream and construction projects stayed on track. True, ET is not in favor now but that's always been the best time for patient, long-term minded investors to buy. It's on our High Yield List in EIA.
Steve
4:43
ATGFF had a recent price spike but is now back in the tank.  Any thoughts on their current progress to following their projected game plan going forward?
AvatarRoger Conrad
4:45
Altagas is still well off is low point of last December as well as well above the 200-day moving average. I see it did break the 100-day moving average today, which I think is pretty clearly due to a drop in the Canadian dollar since mid-July and investors selling energy stocks in general. As I mentioned earlier in the chat, however, the recovery plan is on track, making this an opportunity to buy in the low teens for those interested in betting on its comeback.
Alex
4:45
Hi Roger.  What are your thoughts on the recent price action and distribution stability of EQM?  Thank you.
AvatarRoger Conrad
4:47
As I said earlier in the chat, I think EQM's revenues are vulnerable to a cutback in output from EQT its largest customer, now that the Rice brothers have won the proxy battle and control the company. There's also risk of a writeoff of the Mountain Valley Pipeline. This MLP has good assets but I see downside risk of low to mid 20s until these issues are resolved, hopefully reasonably favorably.
John S
4:47
ATGFF is in the doldrums.  Is it still worth holding onto?
AvatarRoger Conrad
4:48
I think so John. They're doing what they have to in order to recover and the reasons the stock has sold off the past month or so appear temporary bumps. This is a company in recovery but the low valuation reflects that.
Steve
4:48
PEGI has risen in response to rumors of outside interest in some manner.  Do you have any insight as to the validity of all the rumors?
AvatarRoger Conrad
4:50
I think Pattern Energy is attractive for its projects and cash flows. But in view of the lack of distribution growth this year and very likely next, it's clear to me that the shares are pricing in the takeover rumors from Brookfield Renewable Energy Partners. I think a deal with that company would be very good all around and management has confirmed it's been approached by "third parties." But we've had plenty of opportunities to buy PEGI below our buy target of 20 over the past year or so and I don't want to chase it here.
Jimmy
4:50
Roger, can you comment on ATGFF, MRO and ENBL?  Thanks.
AvatarRoger Conrad
4:52
Hi Jimmy, I've already commented on Altagas and Enable. Marathon Oil is more of an EIA stock than a CUI one and I would prefer to let my partner Elliott Gue comment on it. What I can say is we see it as cheap here.
4:53
Let me add that we will be having our monthly live chat for Energy and Income Advisor next week--so everyone will have a chance to ask questions then as well.
Richard
4:53
Okay, I am going to ask the same question I ask last chat. Are we still getting closer to getting out of the woods with SO? Long term holder with more shares than I should have. Thanks as always.
AvatarRoger Conrad
4:56
I still don't want to chase Southern Company above our target buy price of 50, at least until the Vogtle project is closer to startup. That said, I think you have to be happy about the progress the company continues to make since it took over the project with Bechtel as lead builder. We pretty much need to monitor that progress every quarter, sometimes sooner when there's a major development. And a watchdog has recently raised some concerns. But now that a couple of these reactors are actually operating in China, we can have some assurance these reactors will eventually run. I think a price of 50 adequately reflects the risk of future cost overruns and I'm happy paying that--the price now is well above that and I'm happy just holding.
BillNM
4:56
Now that CNSL has eliminated their dividend do you think it is now safe to hold to maturity there bond that matures Oct 2010? You had recently recommended to sell it. Thanks.
AvatarRoger Conrad
4:59
I actually recommended selling this bond in the August issue Feature article, where I again highlighted our fixed income Portfolio. I really want to follow the rule of not holding fixed income in any company that I wouldn't want to hold the common stock of--too much room for problems when the economy turns down. There was a bounce in these bonds' price following the dividend cut and it's still trading low to mid 90s. But I think with the company's revenue still declining there's a lot of risk here that's maybe not fully reflected in the price.
barry
4:59
Please let us know what substantial risks you foresee could occur with AM and ENLC.  For example, notwithstanding their last positive financial reports a few weeks ago, are their yields so high that they would cut dividends?  Could their lenders require that because of certain covenants in their loan documents if their share price dropped below a certain value?  What are the issues of which we should be aware?
Thanks.
Barry
AvatarRoger Conrad
5:00
Hi Barry, I answered this question earlier in the chat. Bottom line is we'll continue to keep you updated on AM and ENLC in EIA, but for now I don't see lenders as a problem for either.
Charles
5:00
Hi, I've owned NEP for some time.  Thank you for that.   TERP is several points above your buy limit but it has been on a tear.  Are you considering upping the limit?  What makes TERP aggressive and NEP conservative?  Thx
AvatarRoger Conrad
5:02
TerraForm is still wrestling with challenges left over from when it was affiliated with bankrupt SunEdison, so it doesn't measure up as well on my Quality Grade system. As those are peeled away, it will become a more conservative investment. However, NEP enjoys a level of credit quality that other yieldcos don't at this time. Also TERP is selling somewhat above our recommended entry point, though I will consider raising that level as the dividend rises and leverage is reduced.
Bill
5:02
Is their a generic medicine maker you can recommend ...( for more diversity).....or, not safe ?
AvatarRoger Conrad
5:03
This is something we are looking for in CUI Plus--I don't have anything for you at this point but I am actually very interested in CVS as a healthcare company with more utility like characteristics.
Cindy
5:03
Oops. I hit return before entering my question.  Here it is: I have owned SUUIF for years, through many ups and downs.  Do you think it's worth holding to see if it goes up if chemical sale division goes through and SUUIF acquires SPH? Or should I sell if it hits $10 again.
AvatarRoger Conrad
5:05
Hi Cindy. I think Superior Plus is worth holding onto. As I mentioned above answering an earlier question, the sale of the chemicals division will cut risk and further focus operations on propane distribution--which I think is a good business for companies large enough to gain the advantage of scale. I have picked up coverage of it in CUI in the Utility Report Card also.
Andrew
5:05
Hi Roger,  I have a few questions, but I'll send them separately.  I know you've talked a lot about ENLK, but two things I'd like your take on. One Barry Davis taking re-taking the CEO title. Is there any better news than the old CEO is pursuing other opportunities? The other is that Mizuho (whoever they are) initiated coverage by pointing out the Permian assets are going well, but it's OK assets aren't that strong. Wasn't Scoop/Stack assets a basis for EIA's buy rec? And are they really as weak as Mizuho (whoever they are) suggests?
AvatarRoger Conrad
5:08
I think Barry Davis is a good choice, though he never really left in my view. You're right about the SCOOP/STACK as being the impetus for our initial recommendation--however, we don't see the same weakness  that report did in that region. Rather, as i pointed out earlier in the chat, the big challenge for ENLC is weaning itself off of its Devon Energy exposure. I think the Permian expansion is doing that. We'll see how Q3 shakes out but at this point I think the market is pricing in far too much risk for ENLC, as well as many other MLPs.
Andrew
5:08
Can you comment further on the rumors of a PEGI/TERP tie up? If TERP issued shares to buy PEGI, it would, depending on the buy price, see an increase in CAFD because its dist. is over 20% lower than PEGI.  That said, I can't see Brookfield paying much beyond the $26 per share PEGI was trading at yesterday. They generally only buy low. So how likely is this tie up really? If this doesn't materialize, PEGI would likely to drop 10-15%. And is this a good exit for those of us with entry below $19?
AvatarRoger Conrad
5:11
If Brookfield does pay that much, they're seeing value others aren't, so I wouldn't worry about them if they did make an offer that high. Others might, which could drag down BEP at least initially. But that would be a buying opportunity in my view. I do think Pattern has a great portfolio and a clear plan to execute growth going forward. The big hangup has been how to finance--a problem made less pressing by the stock's boost. My view is I don't want to pay more than our long-standing buy price of 20 until they start raising dividends again. That said, I don't see a whole lot of downside if no deal emerges. 10-15% is certainly possible, even 20%. I do think they would make that up so long as they stay on track.
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