Latest Expert Opinions

Signal
Opinion
Expert
BUY
BUY
July 15, 2014

Has done phenomenally well since the IPO in 2011. A little more diversified than some of their peers in that they have terminal businesses, trucking, storage and the Omni Services in the US. Have probably 2 of the most strategic hubs in Edmonton, and a lot of the volumes of crude oil, commodities and NGL’s will go through these 2 hubs. Trades at a pretty good discount to its peers.

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Gibson Energy (GEI-T)
July 15, 2014

Has done phenomenally well since the IPO in 2011. A little more diversified than some of their peers in that they have terminal businesses, trucking, storage and the Omni Services in the US. Have probably 2 of the most strategic hubs in Edmonton, and a lot of the volumes of crude oil, commodities and NGL’s will go through these 2 hubs. Trades at a pretty good discount to its peers.

BUY WEAKNESS
BUY WEAKNESS
July 15, 2014

He would buy this under $48 and sell at about $57. Has been the unfortunate victim of a political hot potato, but you have to look out to 2017-2018, if 1) the Eastern asset comes on-line and 2) they can build out their West Coast LNG. Has exposure in Mexico to the infrastructure space. Have very large projects that are long dated.

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TC Energy (TRP-T)
July 15, 2014

He would buy this under $48 and sell at about $57. Has been the unfortunate victim of a political hot potato, but you have to look out to 2017-2018, if 1) the Eastern asset comes on-line and 2) they can build out their West Coast LNG. Has exposure in Mexico to the infrastructure space. Have very large projects that are long dated.

BUY WEAKNESS
BUY WEAKNESS
July 15, 2014

This is been a great name. It always looks expensive until they come out and announce the next CapX project, and then it looks cheap. He would buy this at under $75, and if you own continue to Hold. They are going through $1.5 billion CapX, but they could do $2.5 billion. If so, they are worth around $80-$85.

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Keyera Corp (KEY-T)
July 15, 2014

This is been a great name. It always looks expensive until they come out and announce the next CapX project, and then it looks cheap. He would buy this at under $75, and if you own continue to Hold. They are going through $1.5 billion CapX, but they could do $2.5 billion. If so, they are worth around $80-$85.

COMMENT
COMMENT
July 15, 2014

A Western based regulated utility, and the largest in Canada. Thinks the valuation of 16X is a little high. If we are going into a rising interest rate environment, a fully regulated utility will likely have more capital pressure on its stock price than more of a merchant power business.

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Fortis Inc. (FTS-T)
July 15, 2014

A Western based regulated utility, and the largest in Canada. Thinks the valuation of 16X is a little high. If we are going into a rising interest rate environment, a fully regulated utility will likely have more capital pressure on its stock price than more of a merchant power business.

BUY
BUY
July 15, 2014

Good company and interesting at this level. Probably not a bad entry point. A multi-industrial with exposure to aerospace and non-residential construction. Great management team. Exceptional track record of M&A growth. Some people have been concerned about the elevator market in China. This company will continue to take share in the aftermarket service business of elevators.

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Good company and interesting at this level. Probably not a bad entry point. A multi-industrial with exposure to aerospace and non-residential construction. Great management team. Exceptional track record of M&A growth. Some people have been concerned about the elevator market in China. This company will continue to take share in the aftermarket service business of elevators.

COMMENT
COMMENT
July 15, 2014

Sold his holdings late last year. Operationally this is a great business. Good management team. Going through a $4.5 billion CapX program in the Maritimes. There is value here for a business that is trading 17X, and where he thinks earnings will grow in the mid to high single-digit. It seems a little rich to him. He would be looking to buy this in the low $30s if you could get it.

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Emera Inc (EMA-T)
July 15, 2014

Sold his holdings late last year. Operationally this is a great business. Good management team. Going through a $4.5 billion CapX program in the Maritimes. There is value here for a business that is trading 17X, and where he thinks earnings will grow in the mid to high single-digit. It seems a little rich to him. He would be looking to buy this in the low $30s if you could get it.

BUY
BUY
July 15, 2014

A large energy infrastructure company in the US. Manager doesn’t take any salary. All of his income is from distributions. The knock on this is “Is it too big, and can it grow.” Competent management. Feels the business is well worth more than it is today.

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A large energy infrastructure company in the US. Manager doesn’t take any salary. All of his income is from distributions. The knock on this is “Is it too big, and can it grow.” Competent management. Feels the business is well worth more than it is today.