Enbridge (ENB.TO)

Enbridge (ENB-T) or Enbridge Income Fund (ENF-T) or both? He would be inclined to take this one, as opposed to the trust, because he would want to have growth going forward. For people who are living off their income, higher yields are attractive but if we get any inflation in the system it is great to have the growth to protect you. From a capital return perspective, if you have growth with a yield, you will outperform the yield itself.

There are better firms if you are looking for pipeline exposure. IPL, KEY, ALA are better choices. He has been selling ENB as it has been going up.

Too big for her. You get problems with the big headline projects because of environmentalists etc. She favours the smaller guys.

Steady dividend should continue. Of the $29 billion in projects, 18 come to fruition soon. A great long term buy.

Preferred Series F. 4%. (Top Pick Nov 22/13, Up 0.99%) It is performing exactly as you would want it to. Still a pretty good pick. He holds it long term.

Loves it. They have two companies that have existing projects that are cash flowing and they can sell them to embark on new projects.

Very solid energy infrastructure company. Have paid and raised their dividend for the last 47-48 years. Reporting earnings today which are very much in line. Valuation is quite high. Prefers companies that can grow their dividends and cash flow from a smaller base so would prefer Keyera (KEY-T) or Pembina (PPL-T).

Which pipeline company would you pick for a long-term hold? All his clients own TransCanada Corp (TRP-T) and some also own Enbridge (ENB-T). Enbridge has been the better performer in recent years. TransCanada has been hurt by the uncertainty over the Keystone XL. Because of its other projects and its got investments in the electricity business, TransCanada is a good long-term hold. Both of them are worth continuing to hold.

Has very good visibility in terms of earnings and cash flow growth. Have also indicated they will be growing their dividend at a faster pace than earnings growth. Very good pipeline and backlog of projects in place to grow earnings and cash flow.

Likes it here. Guaranteed 8-10% earnings growth and dividend should increase every year. It is viewed as interest sensitive, so that will eat into it by 1-3% a year.

Chart shows a nice run up into early 2013 followed by a corrective period and it held its level of around $41. In a really good space and has the potential to break out. He has a $60 target.

Great company. More recently he has preferred the smaller pipelines. This is getting some traction on Northern Gateway but it is far from certain that it will go ahead. They are more vulnerable because of their low dividend yield to an interest-rate increase than some of the others. You won’t go far wrong by holding this, but if you have made a profit, he would recommend lightening your position a little, and perhaps buying some other pipelines in order to diversify the risk.

Likes but doesn’t know if he would add to his holdings at this price and at this time. Have long-term growth prospects. Should be able to grow its dividend by 10%+. Have just cut guidance a little for 2014. Feels this is just a project timing issue. It will be fine over time. A higher multiple stock and will get hurt when interest rates go up.

Pipeline industry has a very bright future in North America, with all the production that is growing in the US and the Western part of Canada but this is not a super attractive stock. Has done really well, but it’s big and earnings are not going to multiply. Dividend is decent, but not great. If you are going to hold it for a long time, you are probably fine. Better opportunities elsewhere if you want dividends. It may be held back a little bit by US taper talks. Smaller plays that are more nimble could include Keyera (KEY-T) or AltaGas (ALA-T).

Preferred F. 4%. Has had some soft performance over the last couple of months, but there are $7.2 billion preferred shares that are most likely going to get called, in the next 12 months. That represents 13% of the overall preferred share market, and more importantly, over 20% of the rate reset preferred shares that are outstanding. As these get taken out, they have to find a home and he thinks this is one that is going to get a lot of capital going to it.