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Transports oil and gas. Very strong financials, good management making very good investment decisions. Should continue to do well and increase dividend over upcoming quarters. Should continue to benefit from higher oil prices. Buy here, good long-term hold. 16x PE. Yield is 5.7%. Prefers it to ENB, which has considerably more debt. TRP is more attractively priced, as it's had to move through some issues.
Overall, view on pipelines fairly bullish. Shipping energy off is to capture a higher price, a good idea. Does have favourites in the space, the order shifts over time based on fundamentals. He doesn't get attached. The business looks very positive going forward. Favourite right now is TRP, as it's the most contrarian of the TRP, ENB, and PPL. PPL is great, but trades at a higher multiple. ENB has considerably more debt, a concern especially with higher interest rates.
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