Shawcor Ltd. (A) (SCL.TO)

$52.86 model price, 24% upside. It looks good. Any pull back could be back to the $39 level and he would certainly be a buyer there.

Pipelines in Canada are a growth industry. If you believe in pipeline growth in Canada, this will be great for this one. They don’t have very many competitors if any even if there are low barriers to entry.

A good company that eliminated the dual share class. Used to hold it. Is based on pipelines growth through the world. Is a lumpy stock in terms of earnings but a good company to hold.

(A Top Pick September 5/12. Up 25.06%.) Still likes. There is a lot of opportunity and have a good backlog as pipelines get built. They are not just North American, but are overseas, including deep water stuff, which requires much more technology where they are leaders. In North America, there are a lot of old pipelines, so that refurbishment and safety standards will also benefit this company. Her target range is close to $50 so this would be a good entry point.

They in the right space and a well managed company. Pipe coating. As more pipelines are built they will benefit. Well positioned. Not overly cheap, but a unique company and a good blue chip to hold onto.

This is not a bad environment for this company. Over the next cycle, he is somewhat bullish on the prospects for energy companies and those companies that service energy. We have already seen the drillers moving up considerably and they are going to require-pipe and coated pipe that this company produces. For a longer-term player, not a bad place to invest at the moment.

Still likes the name. Most of energy in North America is being found in different places than where pipelines are. Stock is cheap – 10 times. Strong cash flow generator.

Has been in the trading range for the past 6 months, $38-$46. Eliminated the dual share structure. They are at record earnings so 2013 is going to be a record year for them and that will be repeated next year and will be repeated until 2015. Next year, year-over-year, the numbers will be a bit lower. Backlog is still at a record high. Really likes their flex pipe division (pipe that bends but doesn’t break) which is becoming quite popular in a lot of the shale plays in the US.

Not cheap enough to get the rate of return that he wants. Got caught up in the whole M&A cycle. Great business and very well run but is just slightly too expensive. Would prefer it closer to the $30 range.

Have a low dividend but have increased it 20% plus this year, which is what he expected of them. Good balance sheet. A global company. Just reported their earnings, which were fine but the backlog is starting to come down again.

Offshore and onshore pipeline coating of pipelines. We are going through a big deep water pipeline cycle right now. Have fibreglass composition pipes (Flexpipe) that are 2”-4”diameter technology that will replace steel giving a savings of about 30%. Expect old steel pipelines will be replaced with this. 1.13 % dividend yield.

They own the pipelines coating business. They put themselves up for sale but got no signs of interest. There is limited upside.

Buy as a long-term hold? Yes. Largest-coating manufacturer globally. Recently bought the #2 player in the offshore space. Loves the growth. The backlash against pipelines actually strengthens the case for this company because companies will have to invest a lot more money in maintenance and new pipelines. Cheap. Great growth prospects.

Provides pipe-coating services to pipeline companies. She has a very positive view on the infrastructure to transport energy. This is a leading player with a 25%-30% share globally. As energy producers are finding natural gas and crude in more challenging environments, this company has the technology and expertise to address this. Has a backlog of $175 million as well as $800 million in bids outstanding. Over 75% of North American pipelines are over 35 years of age and there is increased need for potential maintenance. Dividend yield of 1.18%.

Went through a period where it was going to be sold but there were no takers. Now it looks like they are going to get rid of the multiple trading shares. Great company with a backlog of orders globally. Low dividend of 1.2%.