Stock price when the opinion was issued
This is the one he likes in the space. Part of its business is very utility-like. Steady dividend, which will rise over time. Dividend also looks attractive in the face of an economic slowdown when interest rates would fall. Hold for the long haul.
More pipeline builds would certainly be an opportunity for growth for this name, but that's not why he owns it.
Can be a core name. After the split, the growth assets and those with better potential were assigned to TRP. SOBO got the oil pipelines, which are great for the dividend, but no growth.