Core Viewpoint - The current earnings season presents a challenging environment for accumulating shares of high-quality positions, yet it is seen as an opportunity to build real wealth through strategic investments [1] Investment Strategy - The company emphasizes the importance of a diversified investment approach, combining classic dividend growth stocks with Business Development Companies, REITs, and Closed End Funds to enhance investment income while achieving total returns comparable to traditional index funds [1] Performance Comparison - The hybrid investment strategy developed by the company aims to achieve total returns that are on par with the S&P 500, indicating a balanced approach between growth and income [1]

Financial Data and Key Metrics Changes - The company reported NFE of $118.2 million or $1.17 per share for the quarter, reflecting disciplined execution and solid performance across its businesses [31] - The fiscal 2026 NFEPS guidance was raised by $0.25 to a range of $3.28-$3.43 per share, marking the sixth consecutive year of raising guidance [24][33] - The company expects to invest approximately $5 billion over the next five years, representing a 40% increase compared to the previous five years [6][15] Business Line Data and Key Metrics Changes - New Jersey Natural Gas is positioned for high single-digit rate-based growth through 2030, with significant investments directed towards safety and reliability [7][8] - Storage and Transportation (S&T) is expected to more than double NFE by 2027, driven by favorable recontracting of both Adelphia and Leaf River [6][28] - Clean Energy Ventures (CEV) expects to grow in-service capacity by more than 50% over the next two years, with a strong project pipeline [10][30] Market Data and Key Metrics Changes - The utility is expected to contribute approximately 70% of fiscal 2026 NFEPS, complemented by earnings growth from CEV and S&T [15][33] - New Jersey Natural Gas achieved record send-outs during extreme cold weather, highlighting the critical nature of its services [25][23] Company Strategy and Development Direction - The company emphasizes consistency in execution and targeted capital deployment to support long-term growth [5][6] - A healthy balance sheet is maintained with no need for block equity issuance to execute on its capital plan [6][15] - The company is focused on affordability and energy efficiency programs to help customers manage costs [26][34] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by rising electric utility costs and expressed commitment to working with the new administration to address these issues [18][34] - The company remains optimistic about its growth prospects, supported by a disciplined capital investment strategy and a solid balance sheet [7][10] Other Important Information - The company marked 30 consecutive years of dividend increases, underscoring confidence in its long-term plan [12] - The company has a proactive approach to securing natural gas supplies, with over 87% hedged for the winter season [26] Q&A Session Summary Question: Can you discuss the potential for further upside in energy services due to weather events? - Management indicated that the guidance issued was based on results to date and could not incorporate future weather events [39] Question: Can you confirm contracts for the capacity expansion at Leaf River and discuss potential for further growth? - Management confirmed contracts for initial capacity expansion but noted that the fourth cavern expansion does not yet have contracts [40][41] Question: How does the evolving regulatory backdrop affect affordability efforts and future rate case filings? - Management emphasized ongoing efforts to drive affordability and stated there are no immediate needs for new regulatory processes [46] Question: What is the outlook for Clean Energy Ventures in light of recent regulations? - Management expressed optimism about permit reforms and the ability to accelerate development of safe-harbored assets [48] Question: Can you provide insights on the solar pipeline outside of New Jersey? - Management noted that about 50% of forward-looking projects are outside New Jersey and emphasized the importance of regulatory friendliness in those markets [59] Question: How does the hedging strategy benefit customers, and is it recognized by regulators? - Management confirmed that regulators are aware of the benefits of the hedging strategy, which helps mitigate costs for customers [68]

Core Thesis - Orion Group Holdings (ORN) has improved fundamentals due to a heightened focus on data centers and a stronger balance sheet [1] Company Analysis - The opportunity pipeline for ORN is promising, indicating potential for growth [1] - The investment approach emphasizes value investing principles combined with a focus on long-term growth [1] Financial Outlook - The company is viewed as undervalued with long-term growth potential, suggesting a favorable investment opportunity [1]

With market indices trading near all-time highs, it can be challenging to find attractively valued opportunities in the market. Despite global funds seeing a rise over the last year, the Calamos Global Dynamic Income Fund (Financial analyst by day and a seasoned investor by passion, I've been involved in the world of investing for over 15 years and honed my skills in analyzing lucrative opportunities within the market.I specialize in uncovering high quality dividend stocks and other assets that offer potent ...

Core Viewpoint - The current market environment presents challenges in identifying attractively valued investment opportunities, despite a rise in global funds over the past year [1] Group 1: Investment Strategy - The company emphasizes the importance of a hybrid investment strategy that combines classic dividend growth stocks with Business Development Companies, REITs, and Closed End Funds to enhance investment income [1] - This approach aims to achieve a total return comparable to traditional index funds, specifically the S&P [1]

Core Viewpoint - The article emphasizes the importance of fundamental analysis in identifying undervalued companies with long-term growth potential, advocating for a value investing approach that focuses on buying quality companies at a discount to their intrinsic value and holding them for the long term to maximize earnings and shareholder returns. Group 1 - The investment strategy combines value investing principles with a focus on long-term growth [1] - The approach involves purchasing quality companies at a price lower than their intrinsic value [1] - The goal is to allow companies to compound their earnings and enhance shareholder returns over time [1]

Core Viewpoint - AppLovin (NASDAQ: APP) has a significant long-term growth potential in both mobile gaming and e-commerce advertising, according to Evercore ISI's senior analyst Robert Coolbirth. However, the company's shares are experiencing a significant decline [1]. Group 1 - AppLovin is positioned for substantial growth in the mobile gaming sector [1]. - The company also has opportunities in the e-commerce advertising market [1]. - Despite the positive long-term outlook, AppLovin's stock is currently facing a sharp downturn [1].

Core Viewpoint - The article emphasizes the importance of fundamental analysis in identifying undervalued companies with long-term growth potential, advocating for a value investing approach that focuses on purchasing quality companies at a discount to their intrinsic value and holding them for extended periods to maximize earnings and shareholder returns. Group 1 - The investment strategy combines value investing principles with a focus on long-term growth [1] - The approach involves buying quality companies at a discount to their intrinsic value [1] - The goal is to allow companies to compound their earnings and shareholder returns over time [1]

Core Viewpoint - The article emphasizes the importance of fundamental analysis in identifying undervalued companies with long-term growth potential, advocating for a value investing approach that focuses on buying quality companies at a discount to their intrinsic value and holding them for the long term to maximize earnings and shareholder returns. Group 1 - The investment strategy combines value investing principles with a focus on long-term growth [1] - The approach involves purchasing quality companies at a discount to their intrinsic value [1] - The goal is to allow companies to compound their earnings and shareholder returns over time [1]

Core Viewpoint - The analyst maintains a buy rating for DocuSign (DOCU), emphasizing that the company's go-to-market (GTM) pivot is not indicative of weakness, and expresses confidence that new products and Identity Access Management (IAM) will drive growth [1] Group 1 - The investment thesis is based on the belief that DocuSign is undervalued and has long-term growth potential [1] - The investment approach combines value investing principles with a focus on long-term growth, advocating for the purchase of quality companies at a discount to their intrinsic value [1]