(A Top Pick June 16/17 - Down 22.7%) Chose it for better growth than its peers and a better valuation on a free cash yield. 2017 was messy with production outages and balance sheet concerns and lately with opposition to their line 3. Kind of a perfect storm here. Still believe they are growing earnings by 12% a year. The balance sheet is high, but they have non-core assets that they can sell.

(A Top Pick June 16/17 – Up 20.6%.) Pays a nice dividend. They still see growth here. The risk here is US steel tariffs.

Is the dividend safe? They had troubles with their franchises. A famous guy in the US disclosed recently that he shorted this stock. Management has done a good job turning around Burger King and Popeyes. Earnings growth 20% and trades at 18 times 2019. Way cheaper than its 4-year average. Nice and safe dividend yield of 3.3%. He thinks it is a winner.

Now cheaper at around 16.6 P/E. 7% distribution which is good. They have a flat growth over forecast horizon though. He prefers Pembina Pipeline Corp (PPL-T).

At the end of the day it is not cheap. Trading at 14.5 times 2018 earnings. It is riskier. He thinks there are other industrial names. Probably will turn around but it doesn’t look great.

All these energy infrastructures have come down. Distribution is high and probably sustainable. He likes what he sees here but not one that he actively covers.

Playing the energy market and involved in the Canadian oil patch. Two tough things. Balance sheet is not as pristine as its peers. Valuation is very cheap though. He thinks it will see better days. If he were going to invest in an oil story, he would put money somewhere else.