TC Energy (TRP.TO)

Pipelines are not quite as good as utilities for safety, because they're perceived as being commodity-sensitive (even though they're really not). This name will give you a good dividend and safety. You'll get your dividend, and the safety means you can sleep at night (and that's worth something). You can get diversification via funds and ETFs.

Expensive here. Growth is smaller, more stable and consistent. Good long-term name. Wait for lower valuations to get in.

PPL has a higher yield and more growth projects.

Strong Q1. Expanding project backlog. Thirst for AI data is helping. What's not to like -- the valuation. Really expensive here, ~23x PE for 2028, growing at only 6%. Doesn't mean it can't go higher, but it's always about risk/reward. He'd be selling calls.

Better buys are ALA, KEY, GEI, and TA.

It is one of the most expensive of the midstream companies -he owns other pipelines. It is in a good position with natural gas infrastructure and growth of supply. Hold for the long term - he is not concerned about the short term.

Likes the business of pipelines -- local monopoly, contracted cashflows. Problem today is that their value is not lost on investors. A HALO stock, which AI can't replace. He'd trim, look for a better valuation to enter.

Possible deal with Iran caused similar price action across the whole complex. The whole space was at a high. 

Both an oil play and an energy infrastructure play. Project backlog of $8B (with ~90% sanctioned, and another $12B being discussed) looks very visible. Great company. Trades at premium of 20x PE for 5% growth.

Better places for new $$.

Nat gas prices have fallen, but you have to stay focused on what this company is all about. Utility with very little volatility attached to it.

 Are similar in terms of RSI. They trend in the same direction on the charts, with TC performing a little better recently. Sees little difference between the two. 

Good total return. Spun off it oil pipelines as SOBO, so now it's a more focused play on clean energy.

Definitely holding. Nat gas prices have gone up 40% since the beginning of the year. Sold its oil, kept natural gas, and now involved in nuclear. Decent dividend, with growth in 4-5% range. More pipeline infrastructure to be built in Canada, US, and Mexico. Still a buy.

A good prime minister in their corner who's working on pipelines as projects. Brendan is cautiously optimistic that there will continue to be pipeline expansion. TRP probably continues to do well. We've seen a bit of rebound in the pipeline sector. Lower interest rates should keep the economy at least at the same level, if not expand it. With pressure on currencies, sees pricing for all commodities in USD continue fairly strong.

Likes the natural gas sector as a transition sector, and we probably won't be burning as much in 25-50 years. Much better for the environment than coal.

His preference is TRP -- it has the gas assets, whereas SOBO has the oil assets. Spinoff happened because TRP wanted to lose the discount of oil. Negative sentiment on oil had hurt the multiple, while investor view on nat gas was a lot more positive.

In the space, his ranking is ENB at #1, then PPL, then TRP. Valuations are quite strong. Of the ways he invests for clients, the "income bucket" has performed so well recently that it has the fewest number of Buys of the core "buckets" that he follows. Due to the outlook for interest rates being to go down, income names have been bid up in advance of that. Therefore, valuations have become a bit rich.

Watch and wait -- could be some volatility and an opportunity to pick it up a bit lower. He'd look to try to get it around 10x cashflow, and it's north of 11x right now.