Keyera Corp (KEY.TO)

(A Top Pick September 10/12. Up 40.86%.) Great company and is growing very rapidly. Have some major growth projects on the go. Yielding 4.1%. Have some major capital spending in front of them for the next couple of years. When these new projects come online in the next 18-24 months, there will be a real boost in cash flows from operations, which will lead to another cycle of dividend increases.

Great company. Nice yield. They don’t have to find the natural gas, they let somebody else find it for them and they’ll process it. There has been a bit of a pull back of late. Trading at 14X P/E. More of a cash flow type story rather than an earnings story.

Increased the dividend by about 10% early this year and the dividend is safe. Energy infrastructure space and is more of a niche player. Good company.

He had to pull back his weighting by a third, but this has been a fabulous group to be in. The cash flow growth and dividend growth should be 4-5 times the rate of growth of GDP. We have a shortage of energy infrastructure. He wouldn’t be concerned unless it broke $53. The US had the lowest oil imports in the last 6 months for the last 16 years.

(A Top Pick August 20/12. Up 27.04%.) Midstream processor tied to gas volumes, NGL pricing, differentials. Have done a great job this year and have a number of developments and expansions they can do, which will grow cash flow per unit going forward. Not a lot of upside left in this. Wait for the low $50’s before getting in.

(Market Call Minute.) Pipelines should continue to do well as there is a lot of oil/gas in North America.

Good stock. Part of the energy infrastructure trade that has taken it on the chin a little bit because of rising rates. Likes the way they are positioned long-term. Thinks we are going to see increasing natural gas. If the LNG comes to fruition, you are going to see natural gas working its way through Alberta.

Sold a bit of his holdings because it is not a cheap story. Dividend yield has fallen a fair bit since 2009ish. Well-run company. Grows the business in a very active but cautious way. Trading at a very high multiple. Ran-up because of the great dividend yield. He would wait for a further pullback before buying.

If you are in this one for the 3.6% dividend yield, you stay in the stock. This is an income oriented stock but is also a growth stock. Has been an acquirer and has been putting up new assets and its earnings have grown quite nicely. Have a history of increasing their dividend and should continue to do so.

He would avoid it because it is interest-sensitive. He tries to move out of these and into growth names. Take some profits.

Holding at around the $60 level. This could be a good entry point using around $57 as your Stop. What is interesting is that momentum is sort of giving up so it looks like if it broke the $57 range, the next support would be around $51.

One of the best run infrastructure companies out there. Strong management. Feels there is probably 10%-15% upside in the stock price. There is probably room for dividend expansion. 3.6% yield.

The company is no bargin here. The company continues to grow, but is too expensive now.

(Top Pick May 10/12, Up 53.53%)

(A Top Pick April 4/12. Up 25.66%.)