Kinder Morgan Inc. (KMI-N)

This high dividend-payer of 5.4% will benefit from lower interest rates. A player in US energy growth. Shares are up 21% this year despite weakening energy prices. Solid fundamentals.

Very inexpensive. Unless it's in your RRSP, will pay US withholding tax. No issues with KMI, but his preference as a Canadian is ENB or PPL. All have high dividend yields, but Canadian companies give you the dividend tax credit.

Doesn't follow this name closely, but likes energy infrastructure as a highly attractive area and a key part of the energy transition. His preference is ENB.

He sold all of his direct energy exposure Jan 31. He thinks there is a $55 to $60 for WTI going forward. He has a negative view of this sector going forward. Pipelines and mid-streamers is the place to be and there is a good story behind the return of capital, but it is simply a tough story. He would stay away from it.

He went more positive back in the fall on energy. He is comfortable being out of Canada in energy. This is a good time to build a position in energy but this is not where you get the bang. Your opportunity cost will be significant. He likes XLE-N, the ETF. Or XOP-N is more E & P.