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Patrick McKeough is one of Canada’s top safe-money advisors. The Wall Street Journal, Forbes and The Hulbert Financial Digest have all recognized his ability to find stocks with hidden value. He is editor and publisher of The Successful Investor, Stock Pickers Digest, Wall Street Stock Forecaster and Canadian Wealth Advisor; inventor of the Quick Profit/Value System and the ValuVesting System™. A best-selling Canadian author, he wrote Riding the Bull, the book that predicted the 1990s stock-market boom.

TransAlta expands wind farm

January 15, 2010 -  Be the first to comment
Posted by: Pat McKeough Filed in: Green Stocks
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TRANSALTA CORP. $24 (Toronto symbol TA; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 198.0 million; Market cap: $4.8 billion; Price-to-sales ratio: 1.7; Dividend yield: 4.8%; SI Rating: Average) is expanding its Kent Hills wind farm in New Brunswick. That’s because it won a 25-year power contract from the provincially owned electrical utility.

The company will expand Kent Hills’ capacity to 150 megawatts from 96 megawatts in partnership with Natural Forces Technologies Inc. (NFT), a local wind-power developer. NFT owns 17% of Kent Hills, and will have an option to buy an additional 17% by the end of 2010, when the partners expect to finish the expansion.

The project will cost roughly $100 million. TransAlta earned $66 million, or $0.34 a share, in the third quarter of 2009.

TransAlta is a buy.

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