Gibson Energy (GEI.TO)

Not a growth stock, but loves the dividend. Part of the dividend income element of his portfolio, along with growth and steady-eddys. 

Upcoming quarter may be soft due to weather and softer commodity prices. Legacy businesses doing well, opportunity to grow. Can fund growth with cashflows in second half of 2024. Reasonable at 11.6x compared to peers. Nice dividend of 7%, sober payout ratio, good balance sheet, low debt. Models 7.6% EPS growth.

Yield is 7.5%, looks attractive. Debt from last year's large acquisition appears manageable. Utility-type operation, as it pays out about 80% of distributable cashflow. Steady dividend play, not really a grower, more like fixed income. Better value elsewhere with growth for him, but he's not negative on the stock.

See also comments about TVE. Pays a yield of 7.3%, sustainable, trades cheaply and is a buy.

Has held up well as oil prices have fallen, and those prices should bounce into Q1. 

It is an energy storage and midstream type of company. It has a good dividend so focus on that. You can continue to hold above $19.

Very strong business that is under valued. Strong dividend at ~7%. Good for long term investors. Expecting company to grow in the future. Would recommend buying. Strong management team. 

Utility style company with pipeline business. Believes dividend is safe. Lots of stock being issued for recent M&A. Not a growth company given nature of the business. Current dividend yield ~7% very attractive. 

Sees it going higher. Dividend is good. Latest deal looks somewhat accretive. All these names are getting tossed away due to higher yields. At some point, that will exhaust itself. He'd be picking it up now.

Energy assets valuable.
Under appreciated business.
Current share price undervalued.
Expansion into Gulf of Mexico a good long term decision.
Expecting a $20 share price.
High dividend yield not a concern.

A yield play. Trading down at support level. Texas transaction will add to top and bottom lines. Yield is 8.03%.

Missed on Q2, but beat on marketing. South Texas should help them over time. Low valuation of 11x 2024, 3% EPS growth, 9% EBITDA growth. It gets no respect, but he likes it. If you buy down here, you'll do OK.

The chart doesn't look good. They just got hit with an environmental charge.

One of larger holdings in income growth portfolio.
Oil infrastructure assets valuable - hard to reproduce.
Recent acquisition of USA terminal a good business decision.
7% dividend yield very sustainable.

GEI has quite a high debt level, with debt at 4X cash flow. But, its dividend payout ratio is OK at 55% (last year). Cash flow is steady, and it has been profitable since a loss in 2015. Some growth is expected over the next 24 months. We would consider the dividend 'reasonably' secure over the mid-term. It is not one that would concern us that much, but we would like to see lower debt for greater comfort. The dividend was raised in February and was not cut during the pandemic. 
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