Simon Lack Blog | Talkmarkets | Page 1
Managing Partner, SL Advisors, LLC
Contributor's Links: SL Advisors, LLC

Following 23 years with JPMorgan, in 2009 Simon Lack founded SL Advisors, LLC, an SEC Registered Investment Adviser. SL Advisors manages investments in energy infrastructure, including the Catalyst MLP & Infrastructure Fund (MLXIX), the American Energy Independence Fund (USAI), and ... more

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Pipeline Earnings Provide A Boost
Investors often ask what will it take to get pipeline stocks moving upwards? Attractive valuations and the prospect of higher cashflows are compelling, but when will investors start acting?
Different Ways To Use Solar Power
It turns out there are two competing visions for solar – the traditional utility model of building solar farms for transmission to customers, and the distributed model where businesses and homes generate their own power using rooftop solar panels.
Williams Has COVID Immunity
WMB’s business was neither helped nor hurt by COVID. In that respect, it offers more visibility, if less excitement, than some of today’s high-fliers that are profiting from the new stay-at-home lifestyle.
The Biggest Pipeline Companies Are Doing Well
Last week Enbridge and Enterprise Products, North America’s two biggest pipeline companies, were among those reporting earnings. Both beat expectations – ENB reported 2Q EBITDA of $3,312MM versus $3,155MM.
Lower Spending Cheers Pipeline Investors
KMI kicked off earnings reports for the sector last week. We were most interested in their outlook, but also in their planned growth capex. Industry-wide spending reductions are driving improved profitability.
HH Pipelines Are Becoming Less Risky
More stability lies ahead for pipelines. Spending on new projects peaked in 2018, and the pandemic has caused every company to further reassess plans for 2020. The result is that pipelines will generate twice as much cash as they did last year.
Pipeline Earnings Should Confirm Growing Cash Flows
Earnings season for pipeline stocks begins on Wednesday 22nd, with Kinder Morgan reporting after the market close. We expect the quarterly updates from the sector’s biggest companies will confirm the progress towards improved profitability.
Installed Pipelines Are Worth More
Transco, owned by Williams Companies (WMB) and operating from Texas to New York, is well-positioned to meet some of this unsatisfied demand.
Pipeline Opponents Help Free Cash Flow
Several major pipeline developments last week might well represent a key turning point in how the industry operates.
Energy Demand After COVID-19
U.S. gasoline demand has recovered to around 85% of last year’s levels, a surprisingly strong rebound given the recession.
Dividends On Pipeline Stocks Remain High
Markets finished the strongest quarter sine 1987 yesterday, led by the energy sector.
Taking The Politics Out Of COVID-19
COVID-19 is probably the biggest political issue in America today. Liberals see a worsening situation in need of a slower return to normalcy requiring additional fiscal stimulus.
Energy Markets Are Adapting Quickly
Coronavirus approached us like a distant wave earlier this year. First it was remote and unthreatening, as we viewed developments far away in Asia. But it soon engulfed us, making our lives unrecognizable and crushing economic activity everywhere.
Oneok Hands New Buyers A Quick Profit
Last week Oneok (OKE) did a secondary offering of 26 million shares. It was priced at $32 and diluted existing shareholders by around 7%.
Review Of Vaclav Smil Natural Gas - Part 2
Vaclav Smil writes about how the world uses energy, well supported by useful facts and figures. Below, we highlight some of the fascinating proof statements Smil includes in his book.
Review Of Vaclav Smil Natural Gas – Part 1
What we call natural gas is mostly methane (CH4), and it’s been produced by the decomposition of organic matter on earth for at least 3 billion years. Here is a book review of Natural Gas by Vaclav Smil.
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