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Cameron Hurst Alerian MLP ETF AMLP-N PAST TOP PICK Oct 03, 2019

(A Top Pick Oct 16/18, Down 9%) The yield is about 8% and it is well supported. Stick with the dividend on this one.

Cameron Hurst

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$9.010

Stock price when the opinion was issued

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US Pipelines. This is a candidate for tax loss selling. He expects more pressure between now and mid-December and then it will be a good buy.

BUY ON WEAKNESS

This is the way he is playing the US energy sector. He is starting t nibble again. He thinks the dividend is good and safe. He would nibble into the tax loss selling as it happens this week.

WATCH

He did recommend it a while ago when fracing became a big thing in the US. He exited when momentum indicators began to rollover. While the oil and gas sector remains and energy stocks remain cheap, he has yet to see any indication of breadth returning to the space. Energy continues to be a place that is not attracting investment. The risk is that energy has become a mass manufacturing business. Any tick up in oil prices attracts more supply quickly. He will wait to see a real positive turn. Yield 9%

COMMENT

A tax complication says that the distributions from MLPs are considered business income, so you could be subject a 40% withholding tax. If you're American, the MLPs could have a nice bounce. If global growth stabilizes, energy names could do quite well.

PARTIAL BUY

It is a US pipeline play. He thinks it will be in a trading range for several years. It is at the bottom of a trading range right now with a great distribution yield, so that is how he is playing it. He still likes it and owns it and bought a little more on tax loss selling.

BUY ON WEAKNESS

US Pipeline infrastructure Limited Partnership. He is nibbling away at it. If we get a little bit weaker, he thinks the energy space is a little bit cheaper. He likes this for people who are seeking good yield in their portfolios.

HOLD

He has held this as his exposure to US energy where he is not bullish for the long term. US Pipelines will be pumping at capacity for a long, long time. We might see an anti-pipeline movement in Canada. It's risky but he is not selling at this point.

RISKY

He is not a big fan of ETFs. MPL ETFs get around foreign tax with-holdings. You are investing in an environment of weak energy prices. If you have some riskier money you might look at this one. He would not tend to buy it for his clients. He thinks it will have some resistance here but he likes the structure.

BUY

If you are getting exposure to US energy, he expects US pipelines to be at capacity so playing it through the MLP is a good strategy. The dividend cut was in response to the pressure on energy price. He owns for the yield and not cap gains.

BUY ON WEAKNESS

Above $35, has sold all exposure to AMLP. Closer to $30, it is a good place to enter for a trade. Probably will do well buying dips and selling rallies in the near term. Maximum upside is probably $40. Long term, there are some challenges.

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Cameron Hurst Alerian MLP ETF AMLP-N PAST TOP PICK Oct 03, 2019

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