Abu Hanifah/iStock via Getty Images Introduction Over the last 3 years, I have been analyzing, writing, and investing in the electricity energy sector, from independent power producers such as Talen Energy ( TLN ), Vistra Corp. ( VST ), and Constellation Energy ( CEG ), to power equipment suppliers like GE Vernova ( GEV ) and nuclear supply chain companies like Cameco Corporation ( CCJ ). The prim...
Abu Hanifah/iStock via Getty Images Introduction Over the last 3 years, I have been analyzing, writing, and investing in the electricity energy sector, from independent power producers such as Talen Energy ( TLN ), Vistra Corp. ( VST ), and Constellation Energy ( CEG ), to power equipment suppliers like GE Vernova ( GEV ) and nuclear supply chain companies like Cameco Corporation ( CCJ ). The primary driver of higher electricity demand has been the AI data center buildout; now, the Iran war has laid bare the need for oil substitution globally, which should further increase electricity demand. Most utility funds and ETFs do not fit this focus, but the Reaves Utility Income Fund ( UTG ) has restructured its portfolio vs. my initial analysis to better capture higher electricity prices and capacity expansion. I am upgrading the fund to a strong buy. What is UTG? UTG is an actively managed closed-end fund with a high "dividend" distribution policy; it also utilizes leverage to enhance returns. Its current portfolio aligns very well with my top-down view of the sector. The fund is managed by W.H. Reaves & Company; its methodology consists of maintaining 80% of the portfolio in the Utilities sector and 20% from other related energy sectors, including uranium mining, and now also includes data center REITs. The CEF also uses leverage and, at this writing, had 26% debt over NAV, or about $875m, at the Secured Overnight Financing Rate ( SOFR ) plus 0.65%, or 4.25%. This means its stock selection needs to achieve at least a 1% positive capital return to meet the debt cost. W.H. Reaves & Company At the same time, UTG has a monthly distribution plan of $0.20 per share, which is not fully funded by dividends from its portfolio (I calculate them at 2%) and requires asset sales and capital returns. While the fund's declared objective is to provide a "high level of after-tax income and total return consisting primarily of tax-advantaged dividend income and capital appreciation.” It ...
Reliable, high-yield income is especially appealing to many investors when the stock market is highly volatile. And with the ongoing Iran war, the potential for resurging inflation, and uncertainty related to the November mid-term elections, volatility isn't likely to go away anytime soon. The good news is that several stocks offer a port in the storm plus attractive distributions. One especially ...
Reliable, high-yield income is especially appealing to many investors when the stock market is highly volatile. And with the ongoing Iran war, the potential for resurging inflation, and uncertainty related to the November mid-term elections, volatility isn't likely to go away anytime soon. The good news is that several stocks offer a port in the storm plus attractive distributions. One especially stands out right now. Do you want $1,000 in annual passive income? Invest around $14,730 in Energy Transfer (NYSE: ET) . Image source: Getty Images. Continue reading
Multiple residents of Hong Kong’s fire-ravaged Wang Fuk Court have reported problems with registering for an online meeting hosted by the estate’s administrator, with the firm saying it has stepped up arrangements to enhance cybersecurity. A resident received an SMS from Hop On Management Company, the estate’s administrator, on Sunday saying he had not completed registration for the May 20 update ...
Multiple residents of Hong Kong’s fire-ravaged Wang Fuk Court have reported problems with registering for an online meeting hosted by the estate’s administrator, with the firm saying it has stepped up arrangements to enhance cybersecurity. A resident received an SMS from Hop On Management Company, the estate’s administrator, on Sunday saying he had not completed registration for the May 20 update session for owners, two days after the firm had confirmed a “successful registration”. “You have not...
Key PointsNewSquare sold 64,705 shares of QTEC in the first quarter; the estimated trade size was about $14.80 million based on quarterly average pricing.
Key PointsNewSquare sold 64,705 shares of QTEC in the first quarter; the estimated trade size was about $14.80 million based on quarterly average pricing.
On May 8, 2026, ACT Capital Management disclosed a new position in Alumis (NASDAQ:ALMS) , acquiring 174,250 shares in a trade estimated at $4.36 million based on quarterly average pricing. According to a Securities and Exchange Commission (SEC) filing dated May 8, 2026, ACT Capital Management opened a new position in Alumis by purchasing 174,250 shares. The estimated value of this acquisition is $...
On May 8, 2026, ACT Capital Management disclosed a new position in Alumis (NASDAQ:ALMS) , acquiring 174,250 shares in a trade estimated at $4.36 million based on quarterly average pricing. According to a Securities and Exchange Commission (SEC) filing dated May 8, 2026, ACT Capital Management opened a new position in Alumis by purchasing 174,250 shares. The estimated value of this acquisition is $4.36 million, based on the average unadjusted closing price during the quarter. The quarter-end valuation of the position stood at $3.84 million, reflecting both share count and market price changes. Alumis is a clinical-stage biotechnology company specializing in the development of innovative therapies for autoimmune and neuroinflammatory diseases. The company leverages allosteric TYK2 inhibition technology to address unmet medical needs in chronic immune disorders. With a focused pipeline and a strategy centered on differentiated drug candidates, Alumis aims to establish a competitive position in the biopharmaceutical sector. Continue reading
Key PointsIn general, anyone with a tax-deferred retirement account must take withdrawals known as required minimum distributions (RMDs) beginning at age 73.
Key PointsIn general, anyone with a tax-deferred retirement account must take withdrawals known as required minimum distributions (RMDs) beginning at age 73.
⚽ Scottish Premiership news from the 12pm BST kick-off ⚽ Live scores | Motherwell 1-1 Hearts | And email Billy Hello and welcome. The door is ajar in the Scottish Premiership title race. After Hearts’ draw with Motherwell last night, Celtic know that if they win their final three fixtures – starting with the Old Firm today – then they will be champions (bear in mind they host Hearts on the final d...
⚽ Scottish Premiership news from the 12pm BST kick-off ⚽ Live scores | Motherwell 1-1 Hearts | And email Billy Hello and welcome. The door is ajar in the Scottish Premiership title race. After Hearts’ draw with Motherwell last night, Celtic know that if they win their final three fixtures – starting with the Old Firm today – then they will be champions (bear in mind they host Hearts on the final day next weekend). Rangers also turn up at Parkhead this lunchtime with a spring in their step, with their faint hopes of the title still alive, not to mention the opportunity to set fire to Celtic’s bid. I’ll bring you buildup and team news before kick-off at noon (BST), then minute-by-minute updates from this, perhaps the , decisive match in the Premiership season. I’d love to hear your thoughts via email , whether you’re Celtic, Rangers, Hearts or a neutral. Continue reading...
Over-by-over reports from the action at Durham Sign up for The Spin newsletter | And mail James Hello and welcome to the start of the English international summer. England’s women take on New Zealand in a three match ODI series before a trio of T20s against Amelia Kerr’s impressive White Ferns sets them up for a home T20 World Cup on home soil. Charlie Dean steps up to take the Captain’s arm band ...
Over-by-over reports from the action at Durham Sign up for The Spin newsletter | And mail James Hello and welcome to the start of the English international summer. England’s women take on New Zealand in a three match ODI series before a trio of T20s against Amelia Kerr’s impressive White Ferns sets them up for a home T20 World Cup on home soil. Charlie Dean steps up to take the Captain’s arm band with Nat Sciver-Brunt hoping to recover from a calf tear in time to lead the side in the World Cup starting on June 12th. Continue reading...
Sundry Photography/iStock Editorial via Getty Images Since my last analysis on Comcast ( CMCSA ) (check it here ), the stock has fallen a little. However, the total return remained close to zero because the company’s dividend yield is relatively high ($0.66 has already been paid in 2026). And the decline in the stock has a narrative that even seems compelling at first glance, a more aggressive com...
Sundry Photography/iStock Editorial via Getty Images Since my last analysis on Comcast ( CMCSA ) (check it here ), the stock has fallen a little. However, the total return remained close to zero because the company’s dividend yield is relatively high ($0.66 has already been paid in 2026). And the decline in the stock has a narrative that even seems compelling at first glance, a more aggressive competitive scenario, concerns about the business model in general, and a Q1 where we saw EBITDA declining. But there still seem to be several reasons to remain bullish on Comcast, which go beyond dividends: a cash cow, with positive triggers for the coming years, and an extremely asymmetric valuation. Q1 Earnings, Go-To-Market and Triggers The Q1 2026 result was not that exciting (although it was a double beat). Even looking at it pro forma, with revenue rising 10%, what we still saw was an 8.8% decline in adj. EBITDA. But even so, the explanations for why this result was "mixed" are convincing and actually work as triggers for Comcast’s case. Starting with the company’s core, connectivity & platforms revenue fell 2.5%. EBITDA fell even more, almost 5% YoY, because operating leverage effects also work in reverse (operating deleverage). But the explanation is precisely that this was “intentional”, an initiative by the company. The go-to-market strategy was the main driver for the decline in these indicators in Residential Connectivity & Platforms, and also caused revenue per user to decline. And I understand it, while pricing, bundling, and simplification strategies are welcome, a more aggressive side of this strategy such as free line offers really increases concerns. Of course, if you offer a 5-year price guarantee or a free line, you will be able to retain more users/add new customers, but the legitimate question that shareholders/the market was asking was: what about churn? And when will this end? And the margin? As I mentioned, valid concerns. But these strategies are not...
NoDerog/iStock Unreleased via Getty Images Colgate-Palmolive ( CL ) recently reported its earnings results for the first quarter of 2026, with sales growing at a rate of 8%, and EPS declining by 6%. Although the topline growth is attractive at first sight, just like their commitment to paying and raising dividends, I still do not think it is worth buying CL's stock right now. The main reasons for ...
NoDerog/iStock Unreleased via Getty Images Colgate-Palmolive ( CL ) recently reported its earnings results for the first quarter of 2026, with sales growing at a rate of 8%, and EPS declining by 6%. Although the topline growth is attractive at first sight, just like their commitment to paying and raising dividends, I still do not think it is worth buying CL's stock right now. The main reasons for a more conservative hold rating are justified because of the significant impact of favourable FX on growth, the elevated energy prices, and the valuation. Results Let us start looking at the results from the top, starting with sales. The firm achieved an 8% sales growth YoY, but more importantly it also achieved an organic growth of 2.9%, driven partially by volume growth - 0.6% - and partially by pricing - 2.2%. In my view, it is normally more representative to look at organic or comparable growth as it is a more accurate representation of how the demand for a company's products or services actually develops. Sales growth (Colgate-Palmolive) If we dig a bit deeper, however, I do have some concerns. 1. The sales in the North American segment fell. The primary driver of the falling sales was the increased competition in toothpaste, which resulted in lower volumes. CL made a strategic decision to keep prices as is, to protect margins, but it resulted in a significantly lower volume. Despite keeping the prices higher, the operating margin shrank significantly, by as much as 590 basis points, partially as a result of an outstandingly high margin in the prior year, significant tariff headwinds, and elevated input costs. 2. The foreign exchange rate was a significant tailwind. In the other regions, FX played a significant role in the growth. I believe that this type of growth is not sustainable and at one point, once the dollar weakens, it will create a headwind. I would like to see growth based on operations and demand, not because of FX. And for this reason, the 8% growth figur...
Taras Grebinets/iStock via Getty Images Performance assessment So far, I have missed the current leg up in Dell Technologies ( DELL ): Performance since HA's Last Article on DELL (Seeking Alpha, HA's Last Article on DELL) Elevator pitch Here's how I'm viewing Dell now after some new developments since my last coverage of the stock: Dell is well-set to capture the exploding demand for Agentic AI se...
Taras Grebinets/iStock via Getty Images Performance assessment So far, I have missed the current leg up in Dell Technologies ( DELL ): Performance since HA's Last Article on DELL (Seeking Alpha, HA's Last Article on DELL) Elevator pitch Here's how I'm viewing Dell now after some new developments since my last coverage of the stock: Dell is well-set to capture the exploding demand for Agentic AI server infrastructure Dell's scale allows it to manage cost pressures better but I still expect gross margin reduction Dell has an opportunity to gain market share Dell is richly valued on multiple metrics The stock just printed a multi-year breakout pattern Dell is well-set to capture the exploding demand for servers as AI agent adoption grows Agentic AI adoption is the next major driver of demand growth in AI servers: The shift towards agentic AI benefits AI server demand first as inference frequency is increased and model usage becomes a persistent production workload. We see Dell as a leading OEM in AI servers, with 12% share of total AI server revenues of $496bn in 2026 while share gain velocity at Neo Clouds is increasing (potentially ~$10bn this year). - BoFA Analyst Wamsi Mohan Dell is a market leader in AI servers. It has got a scale wherein its deployment teams are 10 times the size of its peers . With this advantage, management has guided for $50 billion in AI-server-related sales and has also indicated that we are at the accelerating inflection point in product adoption: And certainly, if you look at our AI server business went from $2 billion to $10 billion, to $25 billion. We're expecting $50 billion this year. We're still in the steep part of the S-curve adoption of the technology. - CEO Michael Dell in a BoFA Analyst Call Now, some analysts have estimated Dell's AI server business to have an $85 billion pipeline over the next 5 quarters. Taking this as a $17B/quarter whisper number, the implication is that the market is pricing in FY27 AI server revenues that ...