Roger Conrad

Analyst Articles

When a company makes a secondary equity offering, the market often responds with a selloff because investors assume the additional shares will merely dilute their holdings. But strong companies deploy the proceeds from such issuances toward productive ends, which will ultimately flow through to the share price and payout. Read More

Although an appeals court ruling granted coal companies a slight reprieve this week, the power industry’s inexorable shift toward cheap natural gas is likely to continue at least until the end of the decade, as the US lacks the necessary infrastructure to export its abundance of natural gas overseas. Read More

The power industry boasts an outstanding record when it comes to post-merger performance, as deals typically increase scale and reduce costs. With the industry suffering steep capital costs, the incentive to merge will only grow greater in the years to come. Read More

The 15 percent withholding rate on dividend income is good for American investors, it's good for American companies, and it's good for American infrastructure. Read More