Opinions
Gajan Kulasingam
Williams Cos
WMB-N
TOP PICK
Mar 31, 2015
$50.590
Stock price when the opinion was issued
oil pipelines
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PAST TOP PICK
(Top Pick Mar 6/12, Up 24.44%) US mid-stream energy companies are usually in master limited partnerships which pose tax filing difficulties. This one is a corporation. 4% yield. Happy to own. He moved into smaller companies that he feels will grow more quickly. He is sorry he sold it along the way.
oil pipelines
DON'T BUY
This is a General Partner, which for tax purposes is investable by anybody, and is essentially a C Corp (?). They essentially own and operate the largest network infrastructure of energy assets in the Northeast, particularly in the Marsalis and Utica shale blue regions. This is one of the higher prolific liquids rich regions that you want to have exposure to in this market. Management team has been very proactive in extracting shareholder value out of the current business model. Their guidance is for 10%-15% dividend growth based on the current commodity strip. His view is that oil will recover at some point, and when it does the dividend gets rebased back up to north of 18%-20%. Dividend yield of 4.6%.