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Strategies & Market Trends : Value Investing

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From: E_K_S	6/10/2010 1:25:44 PM
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RE: Spectra Energy Corp. (SE) Chicago Bridge & Iron Company N.V. (CBI) Added a few shares of Chicago Bridge & Iron Company N.V. (CBI) to my long position. I do not know if CBI gets this contract from Spectra Energy but it affirms my belief that the NG sector continues to spend on building out their infrastructure. I expect more announcements as the Marcellus shale region gets developed. CBI has a very compelling group of businesses that can build, service and support this build out. Selling at a forward PE of 8 the value proposition is there too. CBI's headquarters are located in the heart of Texas and although a foreign company is seen as one of the main U.S. contractors to the Oil & Gas industry (specialty welding, design & build NG processing plants, etc.). Spectra Energy Announces Plans for New Processing Plant to Meet the Needs of Montney Producers finance.yahoo.com 9:33AM Spectra Energy announced tht planned investments in new natural gas infrastructure in Northeast British Columbia now total $1.5 bln over three years (SE) 20.22 +0.48 : Although SE not categorized as a utility, it is "utility like", paying a good dividend (over 5%), has a forward PE of 11.7 (meets my utility buy criteria) and it services everything Natural Gas (U.S. Transmission, Distribution, Western Canada Transmission and Processing, and Field Services). My last buy of SE was in 2/18/2009 at $13.28/share. It's hard to step up and buy more shares at $20.34/share but I will have to re-evaluate. EKS

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