Ben Kallo Hsulin Peng
Ethan H. Bellamy David E. Parker

Baird Research: Awards and Accolades

Energy Technology & Resource Management
Ben J. Kallo, CFA
Senior Research Analyst

Ben Kallo is Baird’s senior analyst covering Energy Technology & Resource Management. Prior to joining Baird in 2009, he was an analyst covering clean technology at Stanford Group Company and at Pacific Growth Equities LLC, and a financial advisor at Merrill Lynch. Ben received a BA in Economics from California State University-Humboldt and an MA in Economics from the University of California-Santa Barbara.
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Exploration and Production
Hsulin Peng
Senior Research Analyst
Exploration and Production

Hsulin Peng is Baird’s senior analyst covering Exploration & Production. Prior to joining Baird in 2010, she was a buy-side analyst at Luminus Management, an associate at Citigroup Investment Research, director/manager of corporate finance at the MLP Inergy, and an investment banking analyst at A.G. Edwards & Sons. Hsulin received a BS in Business Administration & Accounting and a Master’s in Accounting – Tax Track from The University of Kansas, and an MBA from MIT.

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Master Limited Partnerships
Ethan H. Bellamy
Senior Research Analyst
Master Limited Partnerships

Ethan Bellamy is Baird’s senior analyst covering Master Limited Partnerships (MLPs) and U.S. Royalty Trusts. Prior to joining Baird in 2010, he was a sell-side analyst at Wunderlich Securities in Denver for two years. Prior to rejoining sell-side research, he worked on the buy-side as the Director of Research for the Lehman Brothers MLP Opportunity Funds in Lehman Private Equity in Houston, TX. Prior to joining Lehman, Ethan covered MLPs at Stifel Nicolaus as a senior analyst. He began his career at Stifel covering cable and media equities out of Denver. Ethan was the No. 2 stock picker in the U.S. in 2010 in the Starmine/Financial Times annual survey. He was the No. 1 stock picker in the oil, gas and consumable fuels sector in the 2009 survey. Ethan holds a BA from Clemson University and an MA from the University of Colorado-Boulder
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Utilities
David E. Parker
Senior Research Analyst
Utilities

Dave Parker is Baird’s senior analyst covering Utilities. Prior to joining Baird in 1993, he followed the utilities industry for A.G. Edwards & Sons and Duff & Phelps Investment Research. Before becoming an analyst, he spent 12 years in several finance-related positions at CMS Energy, a diversified electric and gas utility headquartered in Michigan. In 2012, StarMine ranked him No. 3 stock picker in Multi-Utilities and also the No. 3 earnings estimator in Electric Utilities. In 2008, StarMine ranked him Top 3 industry estimator and Top 3 industry stock picker in Multi-Utilities, and ranked Dave No. 1 in 2006 and No. 2 in 2005 for accuracy in estimating earnings in Multi-Utilities. In 2001, Reuters ranked Dave as the No. 1 Utilities analyst covering small- and mid-cap companies, and in 2000, he was named to The Wall Street Journal’s All-Star Analysts Team.

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