Inter Pipeline (IPL.TO)

(Top Pick Nov 15/12, Up 18.77%) Has been in it since it went public. This has really worked for him for a long time. He trims from time to time. Let your winners run.

Fine, but an interest rate sensitive holding. We are getting another correction at some point with more talk of tapering. Thinks it will give back a dollar or two over the next 2 to 6 months and then it is probably another good buying opportunity.

Chart shows the trend has stopped going up, and is actually slightly down. Has just broken below its 20 day moving average. Relative Strength is negative. The 3 negatives indicate an opportunity to take profits.

(A Top Pick Aug 28/13. Up 6.56%.) This is the largest position in her firm. Still likes. It will continue to just chug along. Just converted to a Corporation allowing US investors to participate. Have about 40% of the oil sands.

One of the most solid companies that we have in our market. Dividend is really safe and secure. Perform extremely well with the cash that they have. Great company. 5% yield.

Not a cheap stock on an earnings basis, as it is trading into the 20X earnings now. There is still opportunity for growth in those earnings as some of their projects dealing with the oil sands area come to fruition over the next 2-3 years. They have also enjoyed the benefit earlier in the year of converting from a limited partnership to a dividend corporation. Has been a steady dividend grower. Not looking for huge capital appreciation.

Doesn’t hold the pipelines. A little concerned about valuations. Worried that the multiple is going to contract in an rising interest rate environment.

In this market, with all the uncertainties and potential frothiness, he wants something that is going to deliver almost 100% certitude long-term dividend growth. Given the structure of its 4 businesses, and its major growth area of taking diluent up to Fort McMurray and then shipping back down the oil sands product, that is where its growth has been. They have wonderful 20 year contracts. Risk to cash flow is minimal. Have increased dividends significantly in the last year or 2 and looking out 5, 10, 15 years they will continue to do so. Looking for a total return of 14% in the next year and has a target price of $28.

Good company and good growth profile. Good yield which will increase the dividend increases of 5%-10% a year.

Wants to still have a core in pipeline type businesses. These guys do ancillary pipelines related to the oil sands. Have the ability to double over the next 10 years.

Very well run company. Just recently did a conversion from an LP to a corporation, which he feels is a good thing. Have a lot of good, big projects that will add cash flow going forward. Feels there is better growth in this than in the larger names. Smaller projects and more manageable. His target would be high $20-low $30.

In process of expanding pipeline capacity at the oil sands. Thinks that its growth is not all priced in right now.

Sees really good growth for the next 3 years, both from oil sands and conventional pipelines. As good as that growth is, at these levels it is probably priced in. Thinks they will be having more competition coming from Enbridge (ENB-T) and Pembina (PPL-T). His target price is $27. If you own, sell Calls. 4.9% dividend yield.

This will continue to give a pretty decent dividend. There is certainly a lot of room for dividend growth. There is a significant increase in conventional and unconventional oil/gas production in Canada and the US. They will benefit from this. Specifically they have good exposure to rising oil sands production because they have pipelines to haul it. They also have some good European exposure. Thinks you can expect dividend growth every year out of this company for the next 3-5 years. FV is $28-$29. 5% dividend yield

Inter Pipeline (IPL-T) or Pembina Pipeline (PPL-T)? He doesn’t own this but does own Pembina, which probably gives you your answer. Thinks there is more growth ahead on a percentage basis in terms of EBITDA in Pembina so he would choose marginally choose this one.