VERESEN $15.15 - Toronto symbol VSN

VERESEN $15.15 (Toronto symbol VSN; Shares
outstanding: 169.8 million; Market cap: $2.6 billion; TSINetwork Rating: Average; Dividend yield: 6.6%) owns and operates energy pipelines and processing plants. Its major holding is its 50% stake in the Alliance gas pipeline, which runs 3,000 kilometres from Fort St. John, B.C., to Chicago. Enbridge owns the other 50%.

To diversify its operations and grow beyond Canada, Veresen has successfully expanded its power generation business. It now owns hydroelectric plants in New York State and B.C.; natural gas-fired plants in Ontario, California and Colorado; and waste heat plants in B.C. and Saskatchewan.

Veresen’s shares yield a high 6.6%. However, it only pays out around 75% of its cash flow as dividends, so it should be able to maintain its annual rate of $1.00 a share.

We’re raising Veresen’s TSINetwork Rating to Average from Extra Risk.

Veresen is still a buy.

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Pat McKeough

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Blue Chip Stocks

Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

Dividend Stocks

Dividend stocks make cash payouts that serve as a way for companies to share the wealth they’ve accumulated. These payouts are drawn from earnings and cash flow and paid to the shareholders of the company. Typically, these dividends are paid quarterly, although they may be paid annually or even monthly as well.

Value Stocks

What are value stocks?

One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

Growth Stocks

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Spinoffs

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A penny stock in general trades for under five dollars a share, and as the name implies, sometimes for pennies. Most of the time they’re young companies, or start-ups in speculative markets like mining or technology.

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Energy Stocks

What are energy stocks?

Businesses that work in the extraction, refining and delivery of energy sources such as natural gas, oil, uranium and coal, are considered energy stocks.