Miller/Howard Research

Research and White Papers
Are MLPs and Midstream Companies Still Like "Utilities Without Walls"?
Miller/Howard Research and Analysis | 2016
Some journalists and financial advisors are questioning the MLP business model, asking how it will weather this storm. Investors are rightly confused about MLP valuations, long-term prospects, and the very viability of the business model. But perhaps there is some myopia here, brought on more by stock price movements than by business fundamentals. Read more

Dividend Stability
Miller/Howard Research and Analysis | 2015
Miller/Howard is a dividend manager that begins any analysis with a company’s willingness and ability to pay its dividend. We buy Growth and Value, Small to Large Caps, Domestic and International stocks. We ask the ultimate question, “Is this dividend safe and will it grow?” Read more

The 4% Rule in Turmoil
Miller/Howard Research and Analysis | 2012
The combination of low current interest rates and minimal equity market returns over the past decade has raised serious questions among all who depend on investment accounts to fund expenses. For retirees or any other investor with a spending/withdrawal need, the issue is one of utmost urgency. Read more

More Articles and Studies
Why Dividends Matter
Miller/Howard Research and Analysis
This illustration shows what would have happened to a $1 million portfolio invested for a 10-year period and demonstrates the impact that rising dividends can have on total return over time, especially in a sideways market. Read more

Will My Money Last as Long as I Do? 
We share some thoughts on the role dividends can play in a portfolio that needs ongoing withdrawals. There is a qualitative difference between “total return” and a return composed of “income plus appreciation.” This difference may be able to solve some of the most pressing problems of long-term “life support” from an investment portfolio.

Retirement: Will My Money Last as Long as I Do?.

The Human Face of Dividends 
When a company raises its dividends, what does it really mean? Using a clever article by two Carnegie Mellon University professors as a jumping off point, we explain why, quite simply, if you’re getting cash, that means the company actually made cash. Dividend changes may offer the best cure for investors’ perpetual state of anxiety about the reliability of the information coming from management. Read more

Income and the Long View 
There has been a notable trend among market strategists and in the media toward time-tested, classic approaches to investing. Among the foremost elements of classic investing is the demand for dividends. Learn how and why dividend-paying stocks outperform the average stock, and stocks with rising dividends have, in most periods, ranked among the highest performers. Read more