Miller/Howard Investments Blog
The news coming out of Pfizer’s vaccine trials on November 9th was truly spectacular and triggered a meaningful shift in the stock market.…
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The spread between the utility sector dividend yield versus 10-year Treasury yield remains in the 99th percentile relative to the past 25 years. Why do we view today’s environment as a unique valuation opportunity in utilities?…
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Companies have cut or canceled dividends at the highest rate since 2009. Our success in largely eluding dividend cuts comes principally from avoiding stocks with high leverage.…
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Investors have an opportunity to provide opinions and oversight to companies they hold, and we believe that strong corporate governance requires sensitivity to the views of shareholders.…
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Society holds conflicting views of the stock market. Millions of people continue to take a long-term view, investing in equities with an eye towards funding retirements that may be decades away.…
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Active management may have benefits over passive management during times of uncertainty--especially for investors who prioritize dividend stability.…
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We expect the growth of renewable energy to be a multi-year tailwind for utilities companies. Utilities are deploying capital on natural gas and renewables projects to position for the future, and this growth trajectory is reinforced by public opinion and regulatory support.…
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For the first time since 1982, a calendar year ended with 2 stocks being >10% of the S&P 500. Even with recent turbulence, this weight has grown. We believe it may be time to rebalance to reduce concentration risk, & dividend-paying stocks could be a solution.…
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The energy markets are rapidly changing day-to-day. Our priority and focus in the current environment is to continuously stress test the names in our midstream energy portfolios.…
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How might the US kick-start the economy, ease unemployment, and take advantage of the current low interest rate environment? Infrastructure.…