Enbridge (ENB.TO)

This is richly valued and has always been a dividend play. Interest rates are at record lows so dividend stocks tend to increase when everyone is looking for yield. He anticipates that when interest rates rise, dividend plays like this one are going to suffer somewhat. Very fully valued.

(A Top Pick April 27/12. Up 18.48%.) Still loves this. 2.7% dividend yield.

Has been one of the strongest growers for years. Valuation is high but this is the right time to be in a name like this. Everything else is too speculative. Has $27 billion in projects that it is going to actualize on in the next 4-5 years which will drive the growth of over 10% in earnings over the next 5 years and beyond. Modest yield of just under 3%.

Likes this. Dividend is not as great as he likes but they have been good at increasing dividends. All sorts of pipeline plans going on at the moment. Their long-term growth pattern is excellent.

One of the better performers in Energy over the last 5 years. Vast amount of growth projects ahead of them. It is expensive for a reason. Lots of access to capital. You could take 20% of your holdings off the table. Raising dividend every year and buy some shares back.

Continues to deliver great earnings. Great dividend growth. Expressed his concerns that they weren’t investing enough money in maintaining old pipes and they are now having to invest a lot more money to maintain their existing infrastructure. Thinks the Gateway pipeline is a dead issue. Just be careful. Their balance sheet is getting bigger and bigger. Be careful.

Enbridge Income Fund (ENF-T) or Enbridge (ENB-T)? They are both great companies. Feels that Enbridge (ENB-T) has more growth and therefore growth in the dividend, which she is after. The income fund has more yield. Both are well managed. Just depends on what are you prefer the yield or the growth.

(A Top Pick April 27/12. Up 19.04%.) Took money out to move to other companies.

Just bought some. Has the problems of the pipelines. Has a lot of projects. Thinks it will continue on its upswing. Good dividends.

Enbridge (ENB-T) or Kinder Morgan (KMI-N)? Likes both. The move in the energy infrastructure stocks has been extremely durable. You have a long-term secular increase in volumes and those companies that provide infrastructure will be beneficiaries.

Good time to be staying in pipeline stocks or stay in REITs instead? First of all, you should have a diversified portfolio. The quarter they just reported was a little bit light and had to do with volumes through their systems. However, they reiterated their guidance for annual 12% earnings growth out to 2015 and this is backstopped by a portfolio of about $15 billion in growth projects. Not cheap on a historical basis.

Reduced his position in it because it is not a cheap stock. Well run company with great assets. Would be surprised if he sold it in the next little while. It should be in everyone’s portfolio.

Valuations on this, TransCanada (TRP-T) and Fortis (FTS-T) are incredibly nosebleed high. Because of its valuation, he considers it a high risk. Trading at 25X forward earnings. Nice dividend and the dividend yield is going to grow but he is not attracted to the valuation.

Great company, he continues to like. Good strong earnings growth with projects in their pipeline. A dividend grower. Sees 10-15% increases through 2016. 2.8% yield.

Great company. Has got $20 billion of development pipeline that it is going to execute in the next 5-10 years. Should continue to be able to grow earnings at 10% a year as well as increasing their dividends. Valuation is a little bit lofty but if it corrected 10%-15%, he would start picking away at it.