Of the thousands of utility mergers completed over the past century, not one has collapsed. Rather, size improved the ability to provide better service at a lower cost. And as I pointed out in the July issue, those economics are actually enhanced by the transformational technologies now reshaping energy, communications and water services. Read More

PNM Resources slashed its dividend by 45.6 percent last month. Unfortunately, paying the new 50-cents-a-share rate will also be challenging, given management’s 2008 earnings projection of between 13 and 28 cents a share and its 2009 forecast of 45 to 75 cents. Read More

Oil started the year near $90 a barrel, shot up to $160 and fell back toward $110. Natural gas, meanwhile, began in mid-single digits per million British thermal units, launched to the low teens and collapsed to around $8. Read More

Like all US limited partnerships (LP), NuStar Energy LP units had a rough 13 months. But blockbuster second quarter results signal better times ahead. Read More

To hear some people tell it, national elections are always some version of good versus evil. One party is the great hope of the nation, while the other is leading us down the road to ruin. One party is full of upstanding “reasonable” people, and the other a bunch of lying philanderers. Read More

At the height of the US housing boom, my colleague Yiannis Mostrous made one of the more prescient investment calls I’ve seen. Writing in the advisory he co-wrote at the time, Wall Street Winners, he recommended a short sale of giant, government-backed mortgage lenders Freddie Mac and Fannie Mae. Read More

Three dozen Utility Forecaster Portfolio equities hiked distributions at least once in the past year, versus one cut. That hasn’t completely spared them bear market losses. Read More

Limited partnerships (LP) have had a tough slog lately. A year ago, yield-hungry investors bid up prices to new heights, while underwriters fell all over themselves to bring new issues to market. Read More

When investor fear is thick, even the strongest stocks get sold off. The key is whether your holdings have what it takes to come back. And that boils down to business quality. Read More

Houses are growing larger and are filled with more electronic gadgets, but the people living in them will use less energy. Read More