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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

May 1, 2020
Dividend Increases/Decreases for the Week Ending May 1
Let's take a look at companies that raised/lowered their dividend this week.
Mar 27, 2020
Dividend Increases/Decreases for the Week Ending March 27
Let's take a look at companies that raised/lowered their dividend this week.
Mar 26, 2020
Jobless Claims Spike; Restaurants, REITs In Trouble
Image: DOL. “The advance number of actual initial claims under state programs, unadjusted, totaled 2,898,450 in the week ending March 21, an increase of 2,647,034 (or 1,052.9 percent) from the previous week.” On March 26, the Department of Labor reported a surge in jobless claims for the week ending March 21 to 3.28 million, a number that “shatters the Great Recession peak of 665,000 in March 2009 and the all-time mark of 695,000 in October 1982,” according to CNBC. The economic situation remains dire as the White House struggles to contain COVID-19 amid what could become one of the worst economic periods since the Great Depression, or one that can turn into the next Great Depression. We also address a couple questions from members regarding Cracker Barrel and the REITs, more generally. Our team is monitoring the stimulus bill in Congress, which just passed the Senate last night. We’ll have more to say about restaurants and REITs as our team pours over the bill and assesses long-run implications. We think this bear-market rally may be short-lived, as we don’t think we’ll see stabilization in the markets until about 6-9 months before a vaccine is widely available, and that may imply a market bottom that may still be 3-6 months ahead. Moral hazard continues to run rampant. The market is bouncing back on what looks to be expectations of an unlimited Fed/Treasury/Congress put, as well as new expectations for hyperinflationary pressures in the longer run in the midst of runaway government spending. Stocks are therefore in demand. We remain skeptical of the sustainability of this bounce, however.
Jan 24, 2020
Dividend Increases/Decreases for the Week Ending January 24
Let's take a look at companies that raised/lowered their dividend this week.
Nov 13, 2019
Chesapeake Energy’s Pain Indicates Nothing “Safe” About Energy MLP Distributions
Image Source: Valuentum slide deck, December 2015. Valuentum released its bearish case on MLPs in June 2015.  Summary There is nothing "safe" in the stock market, and given the track record of the distributions of pipeline MLPs, there is nothing "safe" about pipeline MLP distributions. The MLP business model continues to be phased out, a trend that we anticipated when we made our bearish call on the group in June 2015. Chesapeake Energy's pain is a yet another reminder of the pipeline MLP group's exposure to energy resource pricing through the health (or rather ill-health) of its customer base. We continue to encourage pipeline operators to disclose free cash flow (cash flow from operations less all gross capital spending) prominently in press releases, alongside other industry-specific metrics. Investors of Chesapeake could get completely wiped out in a Chesapeake bankruptcy, and this could have implications across the pipeline MLP arena.
Oct 25, 2019
Dividend Increases/Decreases for the Week Ending October 25
Let's take a look at companies that raised/lowered their dividend this week.
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 26, 2019
Dividend Increases/Decreases for the Week Ending July 26
Let's take a look at companies that raised/lowered their dividend this week.
Apr 26, 2019
Dividend Increases/Decreases for the Week Ending April 26
Let's take a look at companies that raised/lowered their dividend this week.
Apr 12, 2019
Three Upstream Companies Contend with the Shale Treadmill
Image Source: Marathon Oil Corporation -- fourth-quarter 2018 IR presentation.Global oil prices are climbing back up again and that got us thinking about three of the biggest independent upstream players in America’s shale patch.


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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.