Stephen Maresca Morgan Stanley First-place appearances: 1
Total appearances: 3
Analyst debut: 2011 Morgan Stanley’s Stephen Maresca wins this pole position for the first time, climbing from No. 3; he’s also tops in Master Limited Partnerships. The researcher “understands themes and trends better than others and isn’t afraid to make an out-of-consensus call,” according to one aficionado. Maresca, 38, reports that an increase in the production of oil, natural gas and natural-gas liquids is supporting the sector. Driving the growth are rising demand from utilities and U.S. petrochemicals companies, as well as elevated exports of liquefied natural gas and such NGL products as propane and butane, to “help satisfy a price arbitrage between U.S. and international pricing,” he says. Maresca says he is monitoring commodities price impacts on production volumes, decline levels in certain shale plays, stock valuations and “increased competition [that is] eroding returns on capital, for new projects and for acquisitions which have seen price multiples rapidly rise over the past few years.” The analyst advises clients to take asset location and management stewardship into account when picking stocks. Maresca holds a BA in accounting from Rhode Island’s Providence College. He joined Morgan Stanley in 2008 from UBS, where he covered energy names. “His ability to assimilate new information quickly and make a call is the best on the sell side,” cheers another fan. — Carolyn Koo
Also appearing in Energy Master Limited Partnerships First