Travis Miller

More From Travis Miller

Xcel Energy Resolves Regulatory Issues

The company reached what we consider a fair settlement in Texas and continues toward a constructive conclusion of its rate case in New Mexico.

Travis Miller Jul 5, 2018

Utilities: Back to Fair Value With Some Emerging Opportunities

Utilities investors have buying opportunities but should pick carefully.

Travis Miller Jun 27, 2018

Big Changes for MLPs, but Some Values Remain

Travis Miller Mar 20, 2018

3 Undervalued Utilities for Dividend-Seekers

Travis Miller Mar 16, 2018

Utilities: A Weak December Could Foreshadow a Tough 2018

Utilities valuations appear to have peaked, but investors should remain cautious.

Travis Miller Dec 29, 2017

PG&E Dividend Cut an Ominous Sign

We think there is a good chance the board might suspend the dividend for at least a few more quarters.

Travis Miller Dec 21, 2017

Utilities: Valuations Still Running Out of Control

Even the outlook for tightening monetary policies worldwide can't stop utilities from reaching near-record valuations.

Travis Miller Sep 29, 2017

Scana a Great Utility Value After Dropping Nuclear Project

Travis Miller Sep 18, 2017

This Undervalued Utility Is Buying Back Its Shares at Good Prices

National Grid has been able to repurchase shares at value-accretive prices, given the weakness in its stock price during the past two months.

Travis Miller Sep 15, 2017

Nuclear Power Fight Could Make Scana a Buy

We think shareholders are in a good position despite fallout from the abandonment plan.

Travis Miller Aug 14, 2017

Exelon's Three Mile Island Closure a Political Move

We already assumed the plant would close in 2019, so the announcement has no impact on our fair value estimate of the narrow-moat company.

Travis Miller May 30, 2017

Calpine Could Benefit if Nuclear Subsidies Are Struck Down

Travis Miller May 22, 2017

An Attractive Entry Point for This Narrow-Moat Utility

Travis Miller Apr 26, 2017

Utilities: Is There Enough Growth to Offset Higher Interest Rates?

Utilities stocks keep rewarding investors with attractive yields and growth, dispelling the long-held notion that rising interest rates will hurt sector returns.

Travis Miller Mar 31, 2017

2 Trends Supporting Dividend Growth for Utilities

Travis Miller Mar 29, 2017

Renewable Energy Growth Powers This Utility Pick

Travis Miller Feb 20, 2017

Utilities: Still High Even After Bonds' Withdrawal

The utilities yield spread has turned much more bearish after bonds collapsed at the end of the year.

Travis Miller Dec 29, 2016

Little Net Impact on Utilities With Trump

We don't plan any material changes to our forecasts for the utilities we cover.

Travis Miller Nov 9, 2016

Utilities: How Long Can the Yield Paradox Survive?

Utilities' dividend yields still look good, growth is on track, and balance sheets are strong, offering income investors hope that a potential sector collapse would be mild.

Travis Miller Oct 5, 2016

Utilities: Is a Sector-Shaking Pile-up Coming?

Nothing has been able to halt a historic utilities sector rally since mid-2015, but when will the music stop?

Travis Miller Jun 30, 2016

NRG Continues Strategic Shift

It's paying down debt and moving away from renewable energy.

Travis Miller May 6, 2016

Utilities' Dividends Still Attractive, but Headwinds Remain

Even though the utilities sector appears fairly valued, there are pockets of opportunities and potential pitfalls that investors must watch carefully in the coming months.

Travis Miller Mar 30, 2016

Utilities: Don't Fear the Fed--Yield and Growth Still Look Good After 2015 Slump

It's time for investors to focus on utilities' fundamental earnings-growth prospects and dividend yields to attain the consistent shareholder returns they expect from the sector.

Travis Miller Dec 30, 2015

Utilities: Low Rates Keep the Sector's Lovefest Raging

Only the Fed could break up utilities' M&A party.

Travis Miller Sep 30, 2015

Utilities: Starting to Look Attractive After a Woeful 2015 Start

Utilities' 4% dividend yields still look attractive even with the chance for rising interest rates.

Travis Miller Jul 1, 2015

Exelon's Moat Narrows

The company's competitive advantage degrades as nuclear generation returns come down.

Travis Miller Jun 12, 2015

Utilities: Bloody February Brings Valuations Back In Line

We don't see an end to this atypical volatility until interest rates rise back toward historical norms.

Travis Miller Apr 1, 2015

Utilities: Repeating a Stellar 2014 Performance Will Be Tough

Utilities' 23% total return through mid-December topped all sectors except for M&A-fueled health care.

Travis Miller Dec 31, 2014

Travis Miller is a senior equity analyst, resources, for Morningstar. He covers energy and utilities. North American regulated utilities and independent power producers have been the main focus of his research for more than 17 years. The companies in his coverage include some of the largest US utilities as well as a mix of small- and mid-cap utilities.

Before joining Morningstar in 2007, he was a reporter for several Chicago-area newspapers, including the Daily Herald in Arlington Heights, Illinois. Previously, Miller was director of the utilities equity research team at Morningstar.

Miller holds a bachelor’s degree in journalism from Northwestern University’s Medill School of Journalism. He also holds a master’s degree in business administration from the University of Chicago Booth School of Business, with concentrations in accounting and finance. He is a Level III candidate in the Chartered Financial Analyst® program.