STOCKCHASE

(A Top Pick June 11/10. Up 45.62%.) Took a little off the table on this one.

2011-06-27

PAST TOP PICK

13.280

(A Top Pick March 3/10. Up 38.61%.)

2011-03-08

Comment

12.740

Thinks the good yield of 7.8% is sustainable. Some possibility of growth but wouldn’t buy for growth.

2011-02-03

HOLD

12.180

Douglas Kee

Prefers ENB. Cyclical business. Doesn’t see a lot of increase in distributions, although they are good.

2010-12-21

PAST TOP PICK

12.120

(A Top Pick Dec 21/09. Up 37.67%.) Sold his holdings.

2010-12-16

SELL

12.380

Not one of his favourite pipelines. Would consider switching to others.

2010-12-15

HOLD

11.340

(Market Call Minute.) Have invested in a lot of good assets.

2010-09-22

Comment

11.320

Douglas Kee

Not a cyclical business so should be able to maintain their 8.8% dividend. May not be a lot of growth. Prefers Enbridge (ENB-T) and Trans Canada (TRP-T).

2010-09-09

BUY

11.000

Interesting and feels the dividend is safe. Once we hit 2011, distribution will be treated as dividends for tax purposes, giving you a dividend tax credit. Prefers Inter Pipeline (IPL.UN-T).

2010-08-12

DON'T BUY

10.410

(Market Called Minute.) Great asset in the Alliance pipeline. Better names out there.

2010-07-07

PAST TOP PICK

10.390

(A Top Pick May 19/09. Up 54.36%.) Still likes.

2010-07-06

BUY

10.600

Paul Harris, CFA

No problem in meeting their dividend. In a great sector. Transportation of gas will continue to do well over a long period of time. Has another 15%-20% upside.

2010-06-24

TOP PICK

10.350

8% payout. Cash flow will increase over the next couple of years. Yield is sustainable. Short covering at $10.

2010-06-11

TOP PICK

10.300

Derek Webb, CFA

Yield of nearly 10%. A pipeline that yields 10% when interest rates are effectively 0. It’s a great buying opportunity.

2010-06-03

Comment

10.180

Joint owner in the Alliance Pipeline. Only concern is exposure to the Aux Sable fractionation plant. Frac spreads are wonderful right now so they are making a tremendous amount of money but if gas prices come back more in line with oil prices, frac spreads should reduce.

2010-05-12

BUY

10.450

David Baskin

Boring and there’s nothing wrong with it. Will have to convert into a corporation. Assumes they have tax protection for from 2 to 4 years.

2010-03-16

TOP PICK

10.480

Still has over 9.5% yield. It’s three years before this one is fully taxable. Equals a 6.5% dividend.

2010-03-03

BUY

10.500

Paul Harris, CFA

(Market Call Minute) will continue to payout at 10%. Great asset. It’s a tollbooth business.

2010-02-18

BUY

10.210

Things are looking good for them. It looks more like a sustainable bond.

2010-02-12

BUY on WEAKNESS

10.250

Dean Orrico

Energy infrastructure. Has interest in Alliance Pipeline, which ships gas from Western Canada. Also has a natural gas liquids extraction facility. Yields about 9%. Fully valued. Try to buy in the $9 range.

2010-01-20

TOP PICK

9.850

Current interest rates are so low it changes all capital costs assumptions. This trust has a 10% yield compared to government bonds of about 3% so when it converts it should go to fair value, and could possibly overshoot on the upside next year.

2009-12-21

BUY

10.050

Barry Schwartz

Many of these mid-stream pipelines have so much depreciation and tax pools that they can keep their distribution the same as a dividend for 3-5 years. Don’t hope for much capital appreciation. More upside with TRP.

2009-12-02

Comment

10.000

(Market Call Minute.) Would prefer Inter Pipeline (IPL.UN-T)

2009-11-27

BUY

9.350

Glenn MacNeill, P.Eng.

Gas transportation company. One of the undiscovered trusts that is throwing off good cash flow. Should continue to do very well.

2009-11-06

DON'T BUY

8.910

Prakash Hariharan

Likes operations. There is always upside, but there is a lot of US$ exposure. Not sure if there could be a distribution cut.

2009-09-29

BUY

8.180

Ken McCord

Screens very well for him.

2009-06-09

BUY

7.510

David Baskin

Very stable cash flow and is recession resistant. Dividends on income trusts right now are very attractive in relation to bond prices.

2009-05-19

TOP PICK

7.510

Strategy is to have a big part of the portfolio throwing off income. Distribution of 8.3%. A lot of the earnings come from natural gas prices and we are in the low part of the cycle. Can't see the stock going much lower and he can lock in this rate of return.

2009-05-19

PAST TOP PICK

7.400

(A Top Pick Dec 4/07. Down 18.8%.) Had been looking for more defensive picks in order to get paid while you wait. Feels distribution is safe.

2009-02-27

BUY

7.230

Michele Robitaille

(Market Call Minute.) Good quality name. Business is intact and you have good visibility from the power side and pipeline. Some good upside here.

2009-02-03

HOLD

7.690

Ken McCord

Good yield at 12.7%.

2009-01-29

BUY

7.700

Hap (Robert) Sneddon FCSI

Pipeline, power generation and energy storage. Have assets in the US so they are paying full tax so when they make the transition to a corporation, it won't be a big leap. 13% yield.

2009-01-16

WATCH

7.560

If you see it break through $7.60 with some good volume, he would be a buyer. It is right on the downtrend line. The next resistance level would be about $9.60 so take profits at about $9.50-$9.60.

2009-01-08

HOLD

6.960

(Market Call Minute.) Still some questions around its Oxalis (?) Plant.

2008-12-08

VAGUE

7.100

Looking at it. They are having a generic problem for their sector. They like it.

2008-10-16

BUY

9.830

Energy infrastructure with energy assets, pipeline and some midstream. Currently paying tax so there shouldn't be a big difference in 2011. Jordan Coal project is progressing as expected. Could be some growth opportunities with their portion of the Alliance pipeline. Benefit from crack spreads. A Buy at under $10.

2008-09-19

BUY

10.000

Kevin O'Leary

(Market Call Minute.) Likes this one. Metallurgical coal has had a big correction and he is a very big bull on coal.

2008-08-25

BUY

11.040

9% yield. Buy this one for the income, not the capital gains.

2008-05-01

TOP PICK

10.530

Bill Carrigan

Has had a bit of a run lately, so short-term indicators are going to give you a Sell signal, but looking at the longer-term weekly charts, you're still getting a Buy. This is a large infrastructure play and he thinks the distributions are secure. Use a $10 Stop.

2008-01-09

TOP PICK

10.500

(A Past Top Pick Oct 27/06. Down 13.3%.) Benefiting in the last several months from very strong frac spreads, the difference between oil and natural gas prices. Generating a lot of free cash flow. Very good growth prospects on the horizon. Reasonable valuation. Just bumped their distribution from $.93 to $1. Defensive.

2007-12-04

BUY

10.270

Michele Robitaille

A great holding. Has a more diversified business model through their acquisition of Countryside Power operational units. Quite cheap.

2007-11-28

WEAK BUY

10.150

Patrick Kim

Prospects are looking better. Completed an acquisition of Countryside Power which has created new platform for power generation. Turning into more of a conservative play than last year. Should turn around. This is sector you want to be in.

2007-09-21

SELL

10.960

Liquidated his holdings. His pick is Inter Pipeline (IPL.UN-T).

2007-07-19

BUY

10.770

Good value at this price. Recently increased their guidance for 2007. Own 50% of the Alliance Pipeline going from NE B.C. to Chicago. Very predictable, high-quality, long life asset. Also get profits from extracting natural gas liquids.

2007-07-11

DON'T BUY

10.490

One of his favorites. But he recently sold it, because they made a bid to buy country wide power. They want to get into the power business which he doesn't think is a good business to get into, so he exited it.

2007-06-29

BUY

10.510

Pipelines are a growth industry and if demand keeps on rising, the product will have to be shipped. Has been buying Fort Chicago (FCE.UN-T) Inter Pipeline (IPL.UN-T) and Pembina (PIF.UN-T) for new accounts.

2007-04-04

PAST TOP PICK

10.580

(A Top Pick Oct 27/06. Down 12.1%.) Has not rebounded as well as others, after the tax announcement. Continues to like. Good price. Good growth potential.

2007-03-09

BUY

10.860

The pipeline trusts is a sector with tremendous value. Offer better value than the pipeline companies. He owns Keyera (KEY.UN-T), Inter-Pipeline (IPL.UN-T), Fort Chicago (FCE.UN-T) and Pembina (PIF.UN-T). Distributions have held and the yields are up. Feels they will be taken out.

2007-02-26

BUY

11.100

The pipeline model is a good one for and income trust. Both Inter Pipeline (IPL.UN-T) and Fort Chicago (FCE.UN-T) are relatively attractive investments. Their assets have significant value.

2007-01-05

HOLD

12.050

Michele Robitaille

Having a very good year operationally. Benefiting from the strong frac prices in Aux Sable. Instead of increasing distributions, they’ve been paying down debt. Entering into some longer-term growth ventures including some LNG terminals.

2006-12-15

BUY

10.720

Robert Lauzon

Last couple of quarters have been quite strong. Benefiting from strong natural gas liquid prices as a fractionate the product.

2006-11-24

BUY

10.110

Pipelines are probably a good place to be. Pipeline trusts are a glaring example of the trusts that have been hit harder than they deserve.

2006-11-14

DON'T BUY

10.350

Own 50% of the Alliance Pipeline going from Alberta to Chicago. Also have a fractionation plant in Chicago. There are better names in the pipelines.

2006-11-03

BUY

10.370

The pipeline business is ideally suited to a trust structure. Pembina (PIF.UN-T), Fort Chicago (FCE.UN-T) and Interpipeline (IPL.UN-T). If you were ever going to buy any trust in this market, it would be one of these three.

2006-11-01

TOP PICK

11.900

Has three main assets. The biggest is the Alliance Pipeline which transports natural gas from B.C. to Chicago. Very steady, stable high quality asset. Have some pretty good growth prospects going forward. Valuation is attractive.

2006-10-27

TOP PICK

11.580

Robert Lauzon

This company owns 50% of Alliance pipeline which transports natural gas to Chicago. It has a 8% yield. It is making good margins. It is a good safe place to invest.

2006-09-29

BUY

11.960

Uses a package of three stocks, Fort Chicago (FCE.UN-T), Inter Pipeline (IPL.UN-T) and Pembina (PIF.UN-T) for accounts that are looking for income. The average yield is around 7.5%. Making a lot of money out of its gas plant in Chicago.

2006-09-13

Comment

11.920

Garth Jestley

Lightened up on power and pipeline trusts, which are the most interest-rate sensitive. Interest rates are now very close to peaking, which would create some interest in these again. Defensive in nature with stable income.

2006-08-11

BUY

11.970

Fort Chicago (FCE.UN-T) Pembina (PIF.UN-T) and Inter Pipeline (IPL.UN-T) all form a part of his clients portfolios.

2006-08-09

BUY

11.600

Focusing on Inter Pipeline (IPL.UN-T), Fort Chicago (FCE.UN-T) and Pembina Pipeline (PIF.UN-T) which have yields of 7/7.25%.

2006-07-18

BUY

11.370

When he buys this, he takes it on as a package with Inter Pipeline (IPL.UN-T) and Pembina (PIF.UN-T). With these three, he gets a yield of 7% and feels the cash flow and distributions are quite stable.

2006-06-12

BUY

11.100

Very bullish on this trust.

2006-05-15

WATCH

12.450

Generally more affected by the movement of interest rates. It has some volatility. Since gas is trading at 7 dollars and oil is trading at 62 dollars. It's about a 9 to 1 ratio in favour of this company. Watch if gas prices are ahead or higher than crude oil prices, there may be a downside of earnings.

2006-02-25

TOP PICK

11.530

This Top pick consists of a basket of pipeline trusts, Fort Chicago (FEC.UN-T), Inter Pipeline (IPL.UN-T) and Pembina Pipeline (PIF.UN-T). As more and more oil/gas is discovered, it will have to be shipped. Pipelines are going to be the next growth phase in energy. There is a choice between paying a hefty P/E ratio for a regular pipeline company and getting a much higher yield. You'll get modest capital appreciation plus steady and increasing distributions.

2006-01-30

Comment

11.920

Greg Guichon

Just cut their distributions, largely because of a stronger Canadian$. Offsetting this is a new contract which should add stability which wasn't there before.

2006-01-20

DON'T BUY

11.990

Pack of their assets is the Alliance pipeline which goes from Edmonton to Chicago. They also have the Aux Sable fractionation pliant in Chicago. This plant is being hurt by high natural gas prices. Prefers other pipeline trusts.

2005-12-30

TOP PICK

12.340

If you believe in the growth of the energy business then you have to believe in the pipelines. Chose 3 pipeline trusts as a top pick, Fort Chicago (FCE.UN-T), Pembina (PIF.UN) and Inter Pipeline (IPL.UN-T). Should get continued modest growth. A good choice for conservative investors who want to participate in energy.

2005-11-29

BUY

10.950

3 favourite pipelines he owns are Fort Chicago (FCE.UN-T), Inter Pipeline (IPL.UN-T) and Pembina (PIF.UN-T). This is probably the riskiest in that it has a gas processing plant in Chicago and if the ratio of oil to natural gas sinks below 6 to 1, then their gas operations are impacted. Expect thier distribution of $0.96 per share will continue. Prefers the other 2, but are buying all 3 for new accounts.

2005-11-15

HOLD

11.420

John Stephenson

A decent name. It falls in the area of a slow growth part of the business. Very contractually based. What is great abut it is that it is a franchise territory with limited competition. Nnot greatr in a rising interest rate period. OK to have in a a small proportion of thre portfolio. Wouldn't buy and might even sell.

2005-11-07

BUY

11.490

Has been really been beaten up because of their exposure to frac spread risks, the difference between natural gas and the liquids they take out. As the heating season ends, gas prices should drop and the frac spreads should be better in the spring. At these levels, it is good value.

2005-10-28

DON'T BUY

11.090

Bruce Hartman

The decline in unit prices of all income trusts has pretty much all been the result of the uncertainty that has been generated. The possibility for distribution increases are probably limited over the next year or so. Their Aux Sable facilty (a natural gas stripping plant) is at a disadvantage because of the spread between natural gas and liquid.

2005-10-21

DON'T BUY

10.900

Glenn MacNeill, P.Eng.

It owns a pipeline, plus at the end of the pipeline it has a 43% interest in a natural gas liquids plant where they take the gas, refrigerate it and get butane propane condensate out of it. The company has been very confidant about what it can earn out of the Aux Sable natural gas plant, but he is more pessimistic. Prefers other trusts.

2005-10-20

WEAK BUY

11.250

Dean Orrico

For sustainability of income, this is not a bad name. Has a 50% interest in the Alliance pipeline plus a big interest in an extraction plant in the US. The real upside in the story in the last few months has been the extraction side. Has more sensitivity to increased interest rates, so this is a part of the market you want to under weight.

2005-10-18

BUY

11.250

Was hit by the Ottawa announcement like most trusts. Their Aux Sable gas plant in Chicago is losing money. Still buying for new accounts.

2005-10-18

WEAK BUY

11.100

Bob Stodgell

Haven't bought it recently. There are 2 parts to their business. Pipeline and their chemical side. Prospects are starting to improve for them. Not too bad.

2005-10-13

DON'T BUY

11.500

David Cockfield

Has never been his favourite. Its Alliance Pipeline aspect is very good. Its gas processing facilities have been a problem from the beginning. They make money on the pipeline ansd they lose it on the gas processing.

2005-10-12

DON'T BUY

12.680

Dean Orrico

Spreads are starting to narrow again, so there could be a risk in the cash flow.

2005-09-30

BUY

13.180

Patrick Kim

Under a little bit of pressure in the short term although the Q2 numbers were quite solid. There was a downgrade in management's expectation on earnings and feels the market focused too much on that. A good holding.

2005-08-19

BUY

13.100

Outside an RRSP, 65% of the cash flow is taxed with the rest being counted as a return of capital.

2005-08-17

TOP PICK

14.070

Dan Bastasic

Excellent in terms of diversification. Very stable. Good payout ratios. Likes the valuation at these levels.

2005-08-05

BUY

12.910

Dan Bastasic

Has 50% ownership of a very stable cash flow producing asset, Alliance Pipeline. Also have Oxable (a natural gas liquid extraction facility). This one is very variable and subject to frac spreads.

2005-05-27

HOLD

11.680

December through to March period is popular for people looking for yields. That has pulled off along with higher interest rate. If interest rates did go up, the stock would go lower, but they would just add to their position.

2005-04-05

BUY

10.270

David Baskin

Not a bad pick in terms of a conservative income producing stock. Stable.

2004-10-04

BUY

10.100

Good distribution. Enbridge has taken over the risk management of the Aux Sable gas plant. A long-term hold.

2004-08-18

BUY

9.700

Stable, modest growth. High payout.

2004-08-04

BUY

9.370

RRSP portfolios should be looking for high-yielding, cash producing investments such as this one, Pembina Pipeline Income Fund and Inter Pipeline which gives yields of 7 1/2% -9% plus a 2% capital gain. (FC is also 100% tax deferred outside an RRSP.)

2004-06-17

BUY

9.870

Feels that Fort Chicago distribution of $.72 will go up to $1 in the next 2/3 years. The tax on the distribution is deferred for all of 04 and into 05.

2003-12-10

BUY

9.670

Garth Jestley

Has a 50% asset in the Alliance pipeline, which is a great asset. Their midstream natural gas distilling plant on the pipeline running from B. C. to Chicago has been losing money but is starting to turn around.

2003-11-07

BUY

9.620

Likes the pipeline business.

2003-10-15

WAIT

9.750

Glenn MacNeill, P.Eng.

US refrigeration system plant is quite expensive to build and has not been profitable. Pipeline is in good use and should continue providing a nice, steady cash flow. Pretty highly priced right now.

2003-09-02

BUY

9.670

Distributions next year could be as high as $.90 to $1.The pipeline group provides stability and income.

2003-08-13

WEAK BUY

8.830