Thinks this is a real good one. Has a payout ratio of under 100%, a dividend of around 7.5%, and is trading at about 3.7X EV discounted to its cash flow, versus its peers of almost double that. Just bought some new properties that fit in well, which should help in terms of execution. A high-risk name, but a very good one to own.

Just had their Q2, which was largely in line. Operationally it looks very good with Liwan up and running and Sunrise on track to start up at the end of 2014. Trading at a discount to its five-year average. He sees good earnings growth at around 21%. Has a $40 target.

(A Top Pick July 29/13. Down 4.47%.) Had thought this would be a dividend stock by now, but they weren’t allowed to return capital and have been criticized as too big to manage. Q2 was better-than-expected. Credit quality is improving. Still trading well below its tangible estimated Book Value. Tier 1 capital is really high. Still levered to an improving planet and US. Patience should get rewarded on this.

(A Top Pick July 29/13. Up 11.67%.) This should have done a whole lot better, but has been mired by regulatory concerns. Feels the US government will be labelling this as “too big to fail”, so capital, leverage and liquidity will be constrained. He would be using this fear as a way to be buying this. Still a Buy.

(A Top Pick July 29/13. Up 21.4%.) Had hoped we would get the Keystone, which has now been put back earliest to Q1 of 2015. Wouldn’t be buying this today.

This one is very tempting, but he doesn’t think the dividend yield is sustainable. As of Q1, the dividend was 3X higher than the free cash flow. Doesn’t think there will be a buyer for them.

The UNS transaction is proceeding well and will be modestly accretive to them. This is only a $7 billion company and they have about $8 billion of utility type investments coming online over the next few years. There is a lot of growth here. Also, have potential for a lot of LNG related investments, with their strategic presence in BC.