Keyera Corp (KEY.TO)

The first name he'd be buying now. Beat last quarter. The Plains transaction is a catalyst. Cheaper than peers at 15.5x PE, growing 18%.

Main problem is the probe into proposed acquisition; intensity of the probe surprised him. Other issue is that it has some market-based exposure -- when oil price drops off, this impacts the stock. No longer a bargain.

If you own no energy infrastructure, worth a look. But if the deal doesn't go through, then what?

It seems that for the last 15 years, everyone has said that natural gas is going to be the play. But it's never really come to fruition.

It's "fine". This name is a bit more specialized to the gas sector. He'd rather look to the peer group -- ENB, PPL, and perhaps TRP. Other names have a longer track record and a better path to capital if they want to expand. 

Likes their stable cash flows, but they're not funding their 5% dividend from that cash flow. Concerned about their dividend, but you could do worse owning this.

Both really good, likes them both a lot. KEY has better growth now, but trades at a much higher valuation. GEI trades ~14x, with still a very good growth rate. 

Don't do stop losses for good companies that are paying you 6-7% to wait. You get stopped out, the stock starts to come back, and then when do you get back in? If it goes down 10-15% (which is very unusual), or even 30%, it doesn't mean the news flow has changed for a good stock. 

Midstream player. An infrastructure play, as it takes gas/oil from the E&P companies and delivers it to the pipelines. Marketing segment is volatile. Big miss in results this morning (or last night). Long-term chart shows a great story. Energy infrastructure in Canada is a nice place to be.

Huge supply of gas, so price has been depressed. Likes nat gas as a transition energy, and likes the mid-streamers like this one. Transportation, storage, blending, etc. Had gotten offside in marketing, but they have a handle on that now. He'd buy on this dip. Big yield over 5%.

Sees it going further. Likes it. Pays attention to its balance sheet and grows its cashflows. Some are concerned about % of revenues from marketing business. But with the Plains acquisition, marketing exposure is hedged. Very solid management, good growth opportunities. Hold, with no problem buying here.

A higher-quality player that you could put $$ into today. 

Last quarter, infrastructure continues to see really good growth. Another really big beat. Beneficiary of LNG ramping up in Canada and getting offshore. At 2x EBIT:EBITDA, very low leverage compared to peers. 

Very low payout ratio of 48% (like a bank). Volume growth driving better returns on existing assets. Nice potential for new projects, which is an embedded catalyst. Trades at 14.5x for 27% growth. Very good value on PEG. Yield is 4.61%.

LNG projects are growing and it will be one of the companies that benefits from the increased volume of natural gas. It made a big acquisition and has stable cash flow as a mid-stream company. Has a great future with another decade of growth.

Last quarter was a nice beat. Asset sales. Sizeable projects seem to be making progress. Low leverage, low payout ratio with nice dividend, lots of volume growth on existing assets. Lots of upside from new project announcements. 

Natural gas plus getting it offshore are real tailwinds for Canada. Trading ~16.3x 2027, not cheap, but ~13% growth. Fair value once you tack on the dividend. Play defense with the nice dividend plus good capital appreciation over the next year or two. Yield is 4.91%.

Chart's looking pretty good, broken out from the December downtrend. Initial resistance would be close to the previous high of $48. So far so good, nice breakout.