Pembina Pipeline Corp (PPL.TO)

Does not own shares due to market cap size (prefers mid call names). Overall, is a high quality company. Assets are very valuable as it is very hard to replicate. National recognition that Canada needs new pipelines for energy security. Very strong dividend yield that is safe. 

Energy infrastructure names provide good income flow. Less influenced by direction of commodity prices. Long-term contracts. Well positioned to benefit from increased nat gas production. Defensive. Yield is just under 6%; dividend increased consistently, and that should continue.

It is the third largest energy infrastructure company in Canada and has the largest footprint in the Montney region. It has good revenue growth potential as well as a decent dividend payout ratio, Has lower leverage than other pipelines and with its recent pullback its dividend yield is just over 5%. Pipelines are stable but do move around quite a lot so you can trade them (or some) as well.     Buy 11  Hold 8  Sell 0

Is the 3rd-largest energy infrastructure company in Canada and has the largest footprint in the Montney and its natural gas. They have several projects on the go that will support growth for the rest of the decade. Their payout ratio is decent and less leverage than TC Energy and Enbridge, so they can sell-fund projects. Pays over a 5% dividend.

Is Canadian-centric though has more cross-border exposure after buying a US company. Are the largest gas processor in Canada. Well-positioned for the short/medium/long-term to sell to multiple markets. Is -20% from highs, and pays a 5.5% growing dividend. 

KEY works well from here, and PPL slightly better. Lightening up on TRP to diversify makes sense, as long as you aren't paying capital gains tax and it's in a registered account.

Would favour ENB over PPL. Sector not subject to technological disruption or product obsolescence; stable, can grow dividends. He owns TRP.

A great operator, but prefers Enbridge for its diversification. PPL pays a good dividend. Their balance sheet is fine. Pipeline flows in North America will increase.

Very strong business. Excellent management team. Lots of strong assets with new opportunities in LNG. 

A favourite. Would've been a Top Pick today, but it got the nod last time. Canadian-only focus. Processing and infrastructure for nat gas and oil. Stock's come off since US election due to negative sentiment on Canada. 

Canada LNG set to start exporting nat gas, which will improve volumes. Lots of positive catalysts for growth. 80% of assets are backed by long-term take-or-pay contracts, which gives consistent cashflow to support the dividend. Strong business model and management team.

Trump 2.0 should be good for pipelines. The situation for Canada remains to be seen. There is need for more and better pipelines and to access more blue water.

A great income stock, operating pipelines in western Canada. She just issued 2025 guidance with EBITDA growth at 4-6%. She expects them to increase the 5.2% dividend. The current pullback is likely due to weak energy prices, but makes the stock attractive to buy.

Steady eddy. Lots of downside protection, which is what he's looking for right now. He even added some recently. Defensive, low valuation, growth potential. More east to west, rather than north to south (which may see some volatility with the new US administration).

Likes the pipeline names, and this is at the top of his list.

Shows that Trump realizes that getting energy from Canada is very important. One of the most stable in the group, and usually trades at a premium because of it. He owns only a little bit.

EPS of 60c did miss estimates of 75c; revenue of $1.84B also missed estimates ($2.11B). EBITDA of $1.01B missed estimates by 4%. Pembina's 4Q Ebitda may expand by high-single digits, assuming it reaches the midpoint of narrowed guidance of C4.23-$4.33 billion. Contributions from increased stakes in Alliance Pipeline and Aux Sable will likely be the primary drivers, outweighing pressure on lower re-contracted tolls on the Cochin pipeline system. The narrower differential between US Gulf Coast and western Canadian condensate could continue to limit interruptible volume on Cochin. The Marketing segment may be little changed again as the fully consolidated Aux Sable asset and improved NGL margin -- partly due to weak natural gas prices -- buoy Ebitda. Capital spending in 4Q could be similar to 3Q's $262 million, supporting free-cash-flow generation to cover the dividend. It is up 24% this year, but could continue to benefit from lower interest rates. The quarter was clearly not perfect, but with its valuation and 4.9% dividend we would not necessarily see it as a sell if one wants sector exposure. 
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