In our experience, energy infrastructure investments- “poles & wires, pipes & tanks” – have steady earnings due to their cost-plus regulatory regimes and long-term contracts. This cost pass-through feature also makes them, in our opinion, one of the best inflation hedges. At the same time, the transition of the energy system to new sources of energy and storage that are cleaner and cheaper will drive growth through new investments in reliability and connectivity, incorporating these new sources into a more modern data-driven integrated energy system.
Energy Income Partners, LLC (EIP) was founded in 2003 from inbound inquiries about James Murchie’s investments in pipelines and other energy infrastructure companies with stable earnings and higher dividend yields.
We will discuss this multi-decade opportunity for investors, while answering these key questions:
What is the Energy Transition, is it real or is it just hype?
What opportunities and risks does it present to investors?
Is recent stronger performance related to the rotation to value, concerns about inflation or something more specific to the sector?
Speaker:
James MurchiePresident, CEO and Co- Portfolio ManagerEnergy Income Partners
James Murchie co-founded Energy Income Partners (EIP) in 2003 with Linda Longville and Eva Pao. EIP is a partner-owned asset manager with $3.8 billion in AUM as of February 28, 2021 and is an outgrowth of his personal investing in energy infrastructure. He is the President, CEO and Co-Portfolio Manager of EIP’s Funds and products which concentrate their portfolios in the securities of noncyclical energy infrastructure companies in the electric power, pipeline, and renewable development sectors. Between 1998 and 2003, he ran Lawhill Capital which managed a long/short equity fund that invested in energy and cyclical equities and commodities. From 1995 to 1997, he was a Managing Director at Tiger Management where his primary responsibility was investments in energy, commodities, and related equities. From 1990-1995, Mr. Murchie was a Principal at Sanford C. Bernstein where he was a top-ranked energy analyst and sat on the Research Department’s Recommendation Review Committee. Before joining Bernstein, he spent 8 years at British Petroleum in 7 operating and staff positions of increasing responsibility. He has been named one of only three Hall of Fame investors by Alerian. Mr. Murchie has testified on energy policy before the U.S. Senate Committee on Energy and Natural Resources, presents at the Energy Roundtable at the Aspen Institute and numerous industry conferences and events. He has often been quoted in media outlets such as Bloomberg, the Financial Times, and the Wall Street Journal. His interview with Steve Forbes is available on-line. Mr. Murchie received a B.A. from Rice University in 1979 and an M.A. in Energy Planning from Harvard University in 1982.
