Pembina Pipeline Corp (PPL.TO)

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?

Higher interest rates hurt the pipelines to some degree in terms of valuation. Structured debt, not all is floating rate. A good pipeline for growth. Decent dividend yield. Not a bad valuation at 10x operating cashflow.

Core position for him. He maintains around a 4% position. Opportunity for total return over next 10 years of dividend plus capital appreciation is pretty great.