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Fundamental data is updated weekly, as of the prior weekend. Please download the Full Report and Dividend Report for any changes.
Latest Valuentum Commentary

Aug 23, 2019
Kinder Morgan Reaches a Deal to Divest Stake in Canadian Spin-Off
Image Shown: A look at Kinder Morgan's massive oil & gas infrastructure operations that crisscross North America. The natural gas midstream giant is selling its Canadian segment by divesting its 70% equity stake in Kinder Morgan Canada and the US portion of the Cochin pipeline to Pembina Pipeline Corporation (PBA). Image Source: Kinder Morgan Inc – IR Presentation. We like Kinder Morgan because it's one of the few midstream firms actually targeting free cash flow generation instead of focusing on distributable cash flow, which we see as a deeply flawed metric (not taking growth-related capital expenditures into account completely misses the picture in our view). The company’s natural gas assets in the US are irreplaceable and its pipelines transport ~40% of US natural gas according to Kinder Morgan.
Aug 7, 2019
Tallgrass Energy’s Growth Runway Shorter Than Expected
Image Source: Tallgrass Energy LP -- IR Presentation. We parted with Tallgrass as we see greater opportunities in other midstream firms and different parts of the high-yield universe, such as Enterprise Products Partners, which have stronger growth runways and assets that better cater to the ever-evolving needs of North America’s oil & gas industry. Recent weakness in TGE indicates the market is losing faith in Tallgrass’ growth trajectory and its future free cash flows.
Jul 30, 2019
Don't Follow the Social Media Likes: The Divine “Comment(y)”
Image Source: Pilottage. “Personally, it was a miserable experience for me to see things that others couldn’t.” – Nelson on Valuentum’s call preceding Kinder Morgan’s dividend cut.
Jul 25, 2019
Coca-Cola, Visa, and More from Valuentum
If you recall, Facebook issued a terrible outlook in mid-2018 that sent the stock tumbling. Many of our members cancelled their membership during 2018 on this decline. But we stuck with our conviction in the name. But why? How could we possibly stick with a company like Facebook all the way down and ditch entities like Kinder Morgan and General Electric, seemingly iron-clad companies, right at their tops. The answer, my dear members, is a focus on the financial statements and forward-looking analysis.
Jul 23, 2019
Roaring 20s? -- Consumer Staples Valuations Stretched
Image Source: Alan Levine. Strong outlooks for Kimberly-Clark, United Technologies, Hexcel and Lockheed Martin point to an economy that is still gaining momentum. We caution investors of consumer staples stocks, however, with many equities holding large net debt positions, and the sector trading at almost 20 times forward earnings. Learn about the difference between the Best Ideas Newsletter portfolio and the Exclusive publication and much more in this note.
Jul 18, 2019
Kinder Morgan Modestly Disappoints But Its Problems Are Transitory
Image Shown: Kinder Morgan Inc expects a lot of organic growth opportunities will be generated via surging domestic demand for natural gas and rising natural gas export capacity in the US. Image Source: Kinder Morgan Inc – IR Presentation. We remain optimistic on Kinder Morgan’s dividend growth opportunities, and our fair value estimate still stands at $23 per share.
Jul 11, 2019
Valuentum Exclusive Yearly Round Up
"I want finance to learn from the past, the quantitative mistakes of yesteryear that brought the world economy to its knees. The misaligned incentives that created a massive bubble and subsequent housing market crash. The problems of leverage in yet another quant hedge fund Long Term Capital Management that caused panic in the late 1990s. Wall Street is not learning from history, and many are going wildly down the path of destruction. Don’t confuse indexing with a bull market. Pay attention to what you own. Stay diversified, and most of all, do your own due diligence." -- President of Investment Research, Brian Nelson, CFA
Jul 2, 2019
Checking Out ARAMCO, Saudi Arabia’s Sleeping Giant
Image Source: Trending Topics 2019. Recent events have piqued our interest in the actions of Saudi Arabian Oil Company, better known as ARAMCO, the giant in charge of the Gulf nation’s hydrocarbon industry. Many view ARAMCO as the most valuable company in the world, but whether this is a USD$2 trillion company or not is in the eye of the beholder (many see that target as overly ambitious, as do we).
Jul 1, 2019
New Highs! The December Call Has Been Well-Rewarded
"The less the prudence with which others conduct their affairs, the greater the prudence with which we must conduct our own." - Warren Buffett (2018)
May 14, 2019
Markets Swooning, Expect Extreme Volatility, Finger on Put-Option Trigger
Image shown: We notified members December 26 that we had moved  the Best Ideas Newsletter portfolio and Dividend Growth Newsletter portfolio to a "fully invested" position, from a 30% and 20% cash "weighting" at the high end of the range, respectively.


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The High Yield Dividend Newsletter, Best Ideas Newsletter, Dividend Growth Newsletter, Nelson Exclusive publication, and any reports, articles and content found on this website are for information purposes only and should not be considered a solicitation to buy or sell any security. The sources of the data used on this website are believed by Valuentum to be reliable, but the data’s accuracy, completeness or interpretation cannot be guaranteed. Valuentum is not responsible for any errors or omissions or for results obtained from the use of its newsletters, reports, commentary, or publications and accepts no liability for how readers may choose to utilize the content. Valuentum is not a money manager, is not a registered investment advisor and does not offer brokerage or investment banking services. Valuentum, its employees, and affiliates may have long, short or derivative positions in the stock or stocks mentioned on this site.