Pembina Pipeline Corp (PPL.TO)

Currently trading at 10x operating cash flow.
~6% dividend yield that is very safe.
Legacy assets that are hard to replicate.
Not as many problems as other mid-stream companies with cost over runs.
Good time to buy.

ENB has much higher quality assets and better locations. More volatility in earnings. Rumoured to be interested in TMX pipeline, which is an overhang. Good company, dividend safe. He still prefers TRP and ENB.

Not buying for growth clients, but more for a balanced and income-focused portfolio. All the pipelines are down, but he still expects them to raise dividends going forward.

Really good portfolio of long-term assets and income generation. Contracts tend to be take or pay. Going forward, it will be harder, not easier, to build pipelines and infrastructure. Transition to renewables won't happen overnight. His preference is KEY, with its new KAPS program. See his Top Picks.

Doesn't suffer cost overruns on projects like TCE and has a similar valuation to them and Enbridge. Has more of a growth profile. Better than its peers. Pays a decent dividend. Added to it recently. A defensive hold.

Its dividend is safe at a 56% payout ratio. It is executing well and reiterated guidance. It is trading at a reasonable valuation of 15.6 X with OK growth.

Broke out, formed a top, and hasn't broken the neckline. Still OK, as long as it doesn't break $40 significantly by too many days. Pays a dividend, nothing wrong with the stock or the sector, just out of favour. Yield is 6.4%.

Major supplier of oil and gas infrastructure to Western Canada. This will continue to build, as Canada still has surplus energy. Interest rates have gone up, while oil/gas prices have come down. Puts pressure on the stock. Sees no reason to sell. Future is fine for volumes. Dividend will rise slowly. Yield is quite attractive at 6.4%.

Pullback with energy sector makes an attractive entry point. Well positioned in production growth areas. Yield is over 6%, quite safe, and should increase every year. 

Tough business in Canada with protests.
Very good assets with legacy attributes (hard to replicate).
Canada requires large amount of energy - Pembina a service provider of energy demand.
Strong fundamentals. 

Likes a lot. Wait for a pullback, as valuation has come up. Tremendous collection of energy infrastructure assets in Western Canada. Lovely business, very well run. Very durable in a tough time.

Owns this and Enbridge. PPL is well-positioned in western natural gas, so PPL is well-positioned if European demand for nat gas rises. Good managers of debt and dividends (5.5%) which increases annually.

Best in this sector. Diversified, exposed to western Canadian gas. Pays a 6% yield. Good long-term. Will likely buy the Transmountain Pipeline. A good core business that offers core growth. Why aren't these companies trading at a PE as utilities?