Pembina Pipeline Corp (PPL.TO)

The one issue with this and his long-time favourite Inter-Pipeline (IPL.UN-T) is that on a price to cash flow basis, especially to Enbridge (ENB-T) and Transcanada (TRP-T), these 2 are stretched. Has a price target of $32 plus. Good yield that continues to rise over the years but key issue is that they have more exposure to midstream operations than Inter-Pipeline so he could see this one doing a little better in the short term.

Has been a phenomenal stock. Seasonably, pipelines are very similar to the energy sector in general i.e. from 3^rd week in January right through until end of May. Stock is already in gear from a technical basis. Above its 20 day moving average, in an upper trend and is outperforming the TSE composite.

A lot of these pipeline/infrastructure companies have come down in the last 3 months or so but he is still positive on them.

Energy infrastructure company. What has happened in Canada and the US in the last few years has been an increase in unconventional oil and gas production. All this oil and gas has to be transported to refineries which has benefited this company. They provide transportation, pipelines and fracing facilities. Pretty attractive yield but he is concerned about the commodity price exposure, which is about 20%-25% of the overall pie. (See Top Picks.)

Pipelines in North America are going to be a growth business because of excess production of reserves in Canada.

Not as growth oriented as Inter Pipeline (IPL.UN-T) but have made some acquisitions. Not a bad payout. Situation for pipelines in Alberta is very positive because they are continuing to build all sorts of oil sands facilities that are increasing production.

This is a toll-road company. Company has great track record. People compare these companies to REITs. They are trading cheaper than REITs, pay dividend instead of distribution income and they raise their dividends.

Loves the pipelines because they are becoming a bit of a monopoly and it is needed.

Attractive entry point. Acquisition earlier this year expanded midstream operations. Announced project for future which will boost earnings. 5% yield. She likes the pipeline sector. The US is heading to self sufficiency in oil and pipelines will be required to move the oil.

Gives a nice income stream. Typically been known as an oil pipeline. Did an acquisition earlier this year of Provident Energy which is more on the natural gas liquid extraction business. As the deep basin producers produce their natural gas, there is a lot of liquids in that stream.

Good company. Have done a great job. 2^nd biggest builder of pipe as well as having storage facilities, etc. Decent yield which will go up slowly over time.

(Market Call Minute.) Cheaper than his favourite Interprovincial Pipeline (?) and he sees a 15% total return over the next year. Expecting good, long-term dividend growth.

Easier geography to understand than TransCanada Pipe (TRP-T). Good yield.

Pipelines in general have not been a bad place to be. The long uptrend seems to be breaking right now. In the short term, you are still getting a couple of higher highs and higher lows so it is attempting a new rally up.

Pipeline returns have never been stronger and there is a more visible earnings growth thesis than any other sector that he has seen. Great combination of growth and dividend. Have expansion projects and pipeline-connections which should boost earnings over 30% over the next 2 years. Have been pinched a little bit by their acquisition of Provident giving them more exposure to commodity-based pricing, frac spreads, which is about 30% of their business now. That will drop to 20% over 2014. Their conventional business is so strong that even frac spread compression, like we’ve seen, will be overpowered.