Tortoise MLP & Pipeline Fund manager favors Spectra Energy, four others

Kevin Birzer of the Tortoise MLP & Pipeline Fund has averaged 24% annual returns over the past three years, and his top current holding is Spectra Energy (NYSE:SE) thanks to its "great footprint of assets" and low risk via $20B in pipeline growth projects with solid commitments up front.

SE can grow its distributions at a ~10% rate for many years to come, Birzer says; combined with a ~3% yield, he sees 14% annual returns over the long term.

Birzer also likes Williams Cos. (NYSE:WMB), which has a footprint in all the big U.S. plays except the Bakken and says it can grow cash flow 15%/year through 2017; Oneok (NYSE:OKE), with total returns of ~13%/year; Plains GP Holdings (NYSE:PAGP) as a Permian Basin play; and Kinder Morgan (NYSE:KMI), whose management team Birzer believes is "running assets for the long term."

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Comments (2)
  • Dividend Pro
    , contributor
    Comments (1222) | Send Message
    Some great companies.


    But (NYSE:KMI) has had a run up too quickly. People should have bought this last year.


    (NYSE: has grossly run up, and is WAY overpriced by any metric you throw at it. Just take a look at FAST Graphs.


    Ditto for (NYSE:


    OKE is not oke dokey anymore, and I have no idea who PAGP even is, since it is new and has no track record.


    Is it an MLP or something? Google says it is a GP of and LP.....
    18 Jul 2014, 01:26 AM Reply Like
  • Energysystems
    , contributor
    Comments (2112) | Send Message
    PAGP is related to PAA.
    18 Jul 2014, 07:13 PM Reply Like
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