Tidewater Midstream and Infrastructure Ltd (TWM.TO)

A small-cap energy infrastucture name that's been acquiring assets in western Canada. It looks very cheap and managers own a lot of stock. But this name doesn't have enough diverse assets for him. He prefers ENB and Pembina.

Frustrating. They trade at a much lower multiple than the larger midstream players. They started to deliver on their numbers. Trades at a lower multiple than their peers. This stock should move up. They just need to continue to execute. Brokers are calling him to sell his shares, so there is demand (but he won't sell). He's held this for a long time. Their fair value is higher than the current share price.

He is meeting with management on Monday. They are involved with a Montney project with Blackbird Energy and it really upsizes the assets of the company. The stock has been quite stable, with dividend growth potential. Yield 2.8%.

They continue to execute and build their business, but the market hasn't recongized it. It's trading at less than book, really cheap. The market maybe concerned if they do an equity issue. Has owned it in the past.

He holds a small position and thinks it looks cheaper than the competitors in the space. It should eventually be re-rated and benefit from higher multiples once it reports a few good quarters. Yield 3%.

Their results said they would probably soften through the summer. It is a small new comer into the field. Other similar companies have made more money than others in the sector. If you don’t want to worry about the commodity prices, then this is for you.

He likes their plans and has met management a few times. What's unfortunate are regulatory issues and rising interest rates. It's a smaller cap, undervalued name in this space. But they have exposure to Bellatrix, which is struggling wtih debt. There's a lot of overhang on Tidewater. This will struggle a while longer. If it returns to recent highs, he'll look at it again.

He owns this company. This trades at much lower multiples than competitors in the space. His average entry price is around these price levels. Their growth is much more rapid than others in this space.

He does not cover it yet. He’s starting to like the company and thinks their story makes a lot of sense. He thinks the downside is 10 to 20 cents and it could rise to $2 (from $1.38 on day of interview) if it came back to its 2016 high.