Latest Expert Opinions

Signal
Opinion
Expert
BUY
BUY
November 22, 2017

Owns because of its steady growth in income. It steadily grows its dividend every year. It’s not exciting and you’re not going to get rich, but you are not going to get killed either. Like other utilities, it is very interest rate sensitive. If interest rates are going down, these types of stocks tend to do really well. It is a bond alternative. Should be a part of everybody’s portfolio. Dividend yield of 4.7%.

BCE Inc. (BCE-T)
November 22, 2017

Owns because of its steady growth in income. It steadily grows its dividend every year. It’s not exciting and you’re not going to get rich, but you are not going to get killed either. Like other utilities, it is very interest rate sensitive. If interest rates are going down, these types of stocks tend to do really well. It is a bond alternative. Should be a part of everybody’s portfolio. Dividend yield of 4.7%.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$61.560
Owned
Yes
BUY
BUY
November 22, 2017

A consolidator in gas stations, mostly in Canada, but is more diverse than just gas stations, having propane distribution and wholesale fuels. Earlier this year, they made 2 major acquisitions; the Canadian assets of Ultramar which gives them a lot more gas stations in eastern Canada and Chevron operations in Canada which were largely in BC as well as a refinery in BC. Took on a lot of debt to do this. The refinery has a big maintenance schedule ahead of it, and investors are a little nervous as to whether they can pull off these 2 big acquisitions at the same time. Their history has shown they’ve been very good acquirers.

Parkland Fuel Corp (PKI-T)
November 22, 2017

A consolidator in gas stations, mostly in Canada, but is more diverse than just gas stations, having propane distribution and wholesale fuels. Earlier this year, they made 2 major acquisitions; the Canadian assets of Ultramar which gives them a lot more gas stations in eastern Canada and Chevron operations in Canada which were largely in BC as well as a refinery in BC. Took on a lot of debt to do this. The refinery has a big maintenance schedule ahead of it, and investors are a little nervous as to whether they can pull off these 2 big acquisitions at the same time. Their history has shown they’ve been very good acquirers.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$25.240
Owned
Yes
COMMENT
COMMENT
November 22, 2017

Has been a poorer performer this year, down about 20% or so. It comes on the heels of making a large acquisition. Up until this year, this was largely an oil based pipeline company. They bought Spectra Energy which diversified them much more into natural gas pipelines. Took on a lot of debt doing it. He doesn’t believe the dividend is in jeopardy, but it is now a “show me” stock. They are having an investor day in a few weeks, where he hopes there will be more information. Yields about 5.5%, the highest yield it has ever had. Believes the dividend is safe. If you are a value investor, you are buying a great company with growing and excellent income at a good price.

Enbridge (ENB-T)
November 22, 2017

Has been a poorer performer this year, down about 20% or so. It comes on the heels of making a large acquisition. Up until this year, this was largely an oil based pipeline company. They bought Spectra Energy which diversified them much more into natural gas pipelines. Took on a lot of debt doing it. He doesn’t believe the dividend is in jeopardy, but it is now a “show me” stock. They are having an investor day in a few weeks, where he hopes there will be more information. Yields about 5.5%, the highest yield it has ever had. Believes the dividend is safe. If you are a value investor, you are buying a great company with growing and excellent income at a good price.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$47.010
Owned
Yes
BUY
BUY
November 22, 2017

Recently sold this from his taxable accounts for tax loss, with the intention of buying it back after 30 days. A new CEO has come in and the market was disappointed, but he doesn’t know what they were expecting. You want a CEO to “under promise” and “over deliver”. Investors are looking for a CEO who will “overpromise” and “hopes he delivers”, which is not realistic. He isn’t upset that the CEO is under promising to start with. Thinks it is going to take 2 to 3 years for the new CEO to prove himself. His new clients are buying this.

General Electric (GE-N)
November 22, 2017

Recently sold this from his taxable accounts for tax loss, with the intention of buying it back after 30 days. A new CEO has come in and the market was disappointed, but he doesn’t know what they were expecting. You want a CEO to “under promise” and “over deliver”. Investors are looking for a CEO who will “overpromise” and “hopes he delivers”, which is not realistic. He isn’t upset that the CEO is under promising to start with. Thinks it is going to take 2 to 3 years for the new CEO to prove himself. His new clients are buying this.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$18.150
Owned
Yes
COMMENT
COMMENT
November 22, 2017

In his 41 years experience, he’s never come across anyone who is any good at picking currencies consistently. Buying something hedged will sometimes work for you, but sometimes won’t, and you don’t really know ahead of time. You pay for the hedge as it is built into the cost of running that portfolio. He doesn’t believe in hedging.

In his 41 years experience, he’s never come across anyone who is any good at picking currencies consistently. Buying something hedged will sometimes work for you, but sometimes won’t, and you don’t really know ahead of time. You pay for the hedge as it is built into the cost of running that portfolio. He doesn’t believe in hedging.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$29.720
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
November 22, 2017

(A Top Pick Dec 28/16. Down 30%.) In hindsight, this had been a mistake. The company has an excellent balance sheet, great management, is mostly natural gas in the Montney area. He was optimistic on the price of natural gas. His mistake was buying a Canadian natural gas stock rather than a US natural gas stock. The Henry hub price for natural gas has gone up significantly since last year. Unfortunately, most of the Canadian natural gas does not get priced at Henry hub, they get AECO which is priced off of Alberta, and that price has collapsed.

Arc Resources Ltd (ARX-T)
November 22, 2017

(A Top Pick Dec 28/16. Down 30%.) In hindsight, this had been a mistake. The company has an excellent balance sheet, great management, is mostly natural gas in the Montney area. He was optimistic on the price of natural gas. His mistake was buying a Canadian natural gas stock rather than a US natural gas stock. The Henry hub price for natural gas has gone up significantly since last year. Unfortunately, most of the Canadian natural gas does not get priced at Henry hub, they get AECO which is priced off of Alberta, and that price has collapsed.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$15.770
Owned
Yes
PAST TOP PICK
PAST TOP PICK
November 22, 2017

(A Top Pick Dec 28/16. Up 14%.) This has given him decent earnings along the way and they have raised the dividend along the way. A good company and a good story to keep. They are investigating whether they are going to split the company in 2.

Pfizer Inc (PFE-N)
November 22, 2017

(A Top Pick Dec 28/16. Up 14%.) This has given him decent earnings along the way and they have raised the dividend along the way. A good company and a good story to keep. They are investigating whether they are going to split the company in 2.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$35.430
Owned
Yes