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AGRIUM INC. $102 (www.agrium.com) gets 76% of its revenue and 46% of its earnings from its retail stores, which sell fertilizer, seeds and other supplies to farmers in North America, South America and Australia. That cuts its reliance on bulk fertilizer sales. Best Buy.

Every Monday we feature “A Stock to Sell” as our daily post. With every stock or investment we recommend as a sell, we give you a full explanation of why we advise against investing in it at this time.

Linn Energy (symbol LINE on Nasdaq; www.linnenergy.com) acquires and develops oil and gas properties in the Mid-Continent region in the southern U.S., the Permian Basin (Texas and New Mexico) and the Hugoton Basin (Texas and Kansas), as well as in California, Michigan and Illinois.

In December 2013, Linn bought Berry Petroleum for $4.3 billion in stock. The move added long-lasting, mature properties and boosted Linn’s growth prospects. Berry’s reserves were roughly 75% oil.

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EMERA INC. $43 (www.emera.com) earned $2.23 a share in 2014, up 13.8% from $1.96 in 2013. Revenue jumped 33.3%, to $3.0 billion from $2.2 billion. These gains are largely due to the company’s November 2013 purchase of three gas-fired power plants in New England for $541 million U.S....

ENBRIDGE INC. $62 (Toronto symbol ENB; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 851.6 million; Market cap: $52.8 billion; Price-to-sales ratio: 1.4; Dividend yield: 3.0%; TSINetwork Rating: Above Average; www.enbridge.com) gets 90% of its revenue from pipelines that pump oil and natural gas from Western Canada to Eastern Canada and the U.S. The remaining 10% mainly comes from distributing gas to 2.1 million consumers in Ontario, Quebec, New Brunswick and New York State.

New projects boost revenue

Since 2008, Enbridge has spent $20 billion on 39 new pipelines and other projects. Thanks to these investments, the company’s revenue soared 164.1%, from $12.5 billion in 2009 to $32.9 billion in 2013. Its revenue probably increased to $37.7 billion in 2014.

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IMPERIAL OIL LTD. $50 (Toronto symbol IMO; Conservative Growth and Income Portfolios, Shares outstanding: 847.6 million; Market cap: $42.4 billion; Price-to-sales ratio: 1.2; Dividend yield: 1.0%; TSINetwork Rating: Average; www.imperialoil.ca) spent $5.7 billion on exploration and capital upgrades in 2014, down 29.5% from $8.0 billion in 2013. That’s mainly because it completed the first phase of its 71%-owned Kearl oil sands project. U.S.-based ExxonMobil (New York symbol XOM), which owns 69.6% of Imperial, owns the remaining 29% of Kearl.

For 2015, Imperial expects to spend $4.0 billion on capital projects. Most of that will go toward expanding Kearl, as well as its Cold Lake oil sands property. These projects will last decades, so the recent drop in oil prices will have little impact on their long-term prospects.

Imperial Oil is a buy.

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LINAMAR CORP. $77 (Toronto symbol LNR; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 64.8 million; Market cap: $5.0 billion; Price-to-sales ratio: 1.2; Dividend yield: 0.5%; TSINetwork Rating: Average; www.linamar.com) plans to expand its transmissionmanufacturing facility in Guelph, Ontario....

POTASH CORP. OF SASKATCHEWAN $47 (Toronto symbol POT; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 830.2 million; Market cap: $39.0 billion; Price-to-sales ratio: 5.9; Dividend yield: 4.1%; TSINetwork Rating: Average; www.potashcorp.com) sold more potash fertilizer in the latest quarter and is benefiting from lower operating costs. But potash prices remain weak.

In the three months ended December 31, 2014, earnings jumped 77.0%, to $407 million from $230 million a year earlier (all amounts except share price and market cap in U.S. dollars). Per-share earnings rose 88.5%, to $0.49 from $0.26, on fewer shares outstanding.

Sales gained 23.4%, to $1.9 billion from $1.5 billion. The company sold 2.5 million tonnes of potash, up 41.6% from 1.8 million a year earlier. However, the average price per tonne rose just 0.7%, to $284 from $282.

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TORSTAR CORP. $7.07 (Toronto symbol TS.B; Conservative Growth and Income Portfolios, Consumer sector; Shares outstanding: 80.1 million; Market cap: $566.3 million; Price-to-sales ratio: 0.5; Dividend yield: 7.4%; TSINetwork Rating: Average; www.torstar.com) gets 60% of its revenue from advertising on its newspapers and their websites, including The Toronto Star, Canada’s largest daily by circulation. Subscriptions account for most of the remaining 40%.

As part of a new strategy to increase online ad sales, Torstar plans to drop the paywall on The Toronto Star’s website and launch a new version for tablet computers. The shift will likely hurt its 2015 revenue but should attract more readers.

The company is debt-free and holds cash of $277.3 million, or $3.46 a share. That will help it adjust to the new online strategy. In addition, dividends total roughly $42 million a year, so the current payout still seems safe.

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TRANSCONTINENTAL INC. $16 (Toronto symbol TCL.A; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 78.0 million; Market cap: $1.2 billion; Price-to-sales ratio: 0.6; Dividend yield: 4.0%; TSINetwork Rating: Average; www. tctranscontinental.com) is Canada’s leading printer of flyers, magazines, newspapers and books. It also publishes magazines and newspapers.

The company recently agreed to sell its consumer magazine division to TVA Group (Toronto symbol TVA.B). This business publishes 15 English- and French-language magazines, including Elle Canada, Canadian Living and The Hockey News. As part of the deal, Transcontinental will keep printing these magazines, as well as other TVA publications, to the end of June 2022.

Selling these magazines will let the company focus on its smaller newspapers and related websites, which serve local advertisers instead of relying on less profitable national ads.

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PENGROWTH ENERGY CORP. $4.15 (Toronto symbol PGF; Aggressive Growth and Income Portfolios, Resources sector; Shares outstanding: 530.2 million; Market cap: $2.2 billion; Price-to-sales ratio: 1.8; Dividend yield: 5.8%; TSINetwork Rating: Average; www.pengrowth.com) recently started up its Lindbergh oil sands project in eastern Alberta, which should produce 16,000 barrels a day by the end of 2015.

Due to falling oil prices and Lindbergh’s completion, Pengrowth plans to spend $200 million to upgrade and maintain its properties in 2015, down 74.0% from $770 million last year.

But even with the lower spending, Pengrowth expects to produce between 73,000 and 75,000 barrels a day (57% oil and liquids, 43% natural gas) in 2015, or about 1.5% more than in 2014, thanks to Lindbergh.

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CAE INC. $15 (Toronto symbol CAE; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 265.2 million; Market cap: $4.0 billion; Price-to-sales ratio: 1.8; Dividend yield: 1.9%; TSINetwork Rating: Average; www.cae.com) is buying the military flight-training business of BOMBARDIER INC. (Toronto symbols BBD.A $3.12 and BBD.B $3.04; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 1.7 billion; Market cap: $5.2 billion; Price-to-sales ratio: 0.4; Dividend suspended in February 2015; TSINetwork Rating: Average; www.bombardier.com).

This business trains pilots for the Royal Canadian Air Force and other NATO countries at facilities in Moose Jaw, Saskatchewan, and Cold Lake, Alberta.

CAE will pay $19.8 million when it closes the deal later this year. This a small sum for both companies, but the new operations are a nice fit with CAE’s other pilot-training businesses. After the sale, Bombardier can focus on its struggling aircraft-manufacturing business, including the upcoming launch of its new CSeries passenger jet.

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SAPUTO INC. $36 (Toronto symbol SAP; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 391.1 million; Market cap: $14.1 billion; Price-to-sales ratio: 1.3; Dividend yield: 1.4%; TSINetwork Rating: Average; www.saputo.com) bought 87.92% of Warrnambool Cheese and Butter Factory, one of Australia’s largest dairy producers, for $449.6 million in February 2014. In April 2014, it added the fluid-milk operations of Nova Scotia dairy Scotsburn for $65.0 million.

These acquisitions increased Saputo’s revenue by 20.4% in its fiscal 2015 third quarter, which ended December 31, 2014, to $2.8 billion from $2.3 billion a year ago. Higher cheese and butter prices in the U.S. also contributed to the gain. Earnings rose 7.3%, to $154.6 million from $144.1 million. But earnings per share gained just 2.7%, to $0.38 from $0.37, on more shares outstanding.

The stock trades at 22.9 times the $1.57 a share Saputo will likely earn in fiscal 2015. That’s a high p/e ratio for a slow-growing dairy company that relies on acquisitions to expand.

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MANITOBA TELECOM SERVICES INC. $24 (Toronto symbol MBT; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 78.1 million; Market cap: $1.9 billion; Price-to-sales ratio: 1.2; Dividend yield: 7.1%; TSINetwork Rating: Average; www.mtsallstream.com) gets 60% of its revenue from its MTS division, which has 1.3 million telephone and wireless clients in Manitoba. The other 40% comes from Allstream, which sells telephone, Internet and other communication services to businesses across Canada.

In the three months ended December 31, 2014, the company earned $24.2 million, or $0.31 a share. That’s a big improvement over the year-earlier quarter, when writedowns and other unusual charges led to a loss of $87.8 million, or $1.25.

Overall revenue fell 0.9%, to $404.8 million from $408.5 million.

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TELUS CORP. $44 (Toronto symbol T; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 611.7 million; Market cap: $26.9 billion; Price-to-sales ratio: 2.2; Dividend yield: 3.6%; TSINetwork Rating: Above Average; www.telus.com) is Canada’s third-largest wireless carrier, after BCE and Rogers Communications, with 8.0 million subscribers. Wireless now supplies 54% of Telus’s revenue and 66% of its earnings.

The remaining 46% of revenue and 34% of earnings come from its wireline division, which mainly consists of 3.2 million traditional phone customers in B.C., Alberta and eastern Quebec. This business also includes 1.45 million Internet users and 888,000 TV customers.

Unlike BCE, which has expanded its media businesses in the past few years, Telus has concentrated on improving its wireless and high-speed Internet networks.

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BCE INC. $56 (Toronto symbol BCE; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 840.3 million; Market cap: $47.1 billion; Price-to-sales ratio: 2.2; Dividend yield: 4.6%; TSINetwork Rating: Above Average; www.bce.ca) is Canada’s largest telephone provider, with 5.0 million customers in Ontario and Quebec. It also has 2.3 million high-speed Internet users and 2.4 million TV subscribers. This business supplies 46% of BCE’s revenue.

The company also sells wireless services (29% of revenue) to 8.1 million customers across Canada, and its Bell Media segment (13%) owns CTV Television, specialty channels and radio stations.

In November 2014, the company paid $3.95 billion in cash and stock for the 56% of Bell Aliant that it didn’t already own. Bell Aliant, which accounts for the remaining 12% of BCE’s revenue, sells telephone and Internet services to 2.2 million clients in Atlantic Canada and rural Ontario and Quebec.

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MOLSON COORS CANADA INC. (Toronto symbols TPX.A $84 and TPX.B $92; Conservative Growth and Income Portfolios, Consumer sector; Shares outstanding: 193.0 million; Market cap: $17.8 billion; Priceto- sales ratio: 3.2; Dividend yield: 2.3%; TSINetwork Rating: Average; www.molsoncoors.com) sold less beer in 2014, but its ongoing cost-control plan continues to give it more cash for debt repayments and dividends.

In 2014, the company’s worldwide beer volumes fell 1.3%. That lowered its revenue by 1.4%, to $4.1 billion from $4.2 billion in 2013 (all amounts except share price and market cap in U.S. dollars). If you disregard currency exchange rates, revenue gained 0.3%.

Molson Coors continues to improve its efficiency. As a result, its earnings rose 5.7%, to $768.5 million from $727.1 million. Per-share earnings gained 4.6%, to $4.13 from $3.95, on more shares outstanding.

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CANADIAN TIRE CORP. $118 (Toronto symbol CTC.A; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 78.1 million; Market cap: $9.2 billion; Price-to-sales ratio: 0.7; Dividend yield: 1.8%; TSINetwork Rating: Above Average; www.canadiantire.ca) began operating in 1922 and is now one of Canada’s leading retailers.

The company owns 493 Canadian Tire stores, which sell automotive, household and sporting goods. Franchisees run most of these outlets. Other operations include 300 gas stations and 91 PartSource auto parts stores.

Canadian Tire has acquired more-specialized retailers to help it compete with big U.S.-based chains like Wal-Mart and Home Depot. In 2002, it bought Mark’s Work Wearhouse, which sells casual and work clothing through 383 stores. It later shortened the name to Mark’s as it added more women’s clothing and other merchandise.

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LOBLAW COMPANIES LTD. $48 (Toronto symbol L; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 412.7 million; Market cap: $19.8 billion; Price-to-sales ratio: 0.4; Dividend yield: 2.0%; TSINetwork Rating: Above Average; www.loblaw.ca) is Canada’s largest food retailer, with roughly 1,200 stores. Its banners include Loblaws, Provigo, Fortinos, Real Canadian Superstore and No Frills.

The company recently acquired the 1,250-store Shoppers Drug Mart chain. Loblaw paid $12.3 billion, consisting of $6.6 billion in cash and $5.7 billion in Loblaw common shares. Shoppers shareholders now own 29% of the combined company.

Loblaw’s parent company, George Weston Ltd. (Toronto symbol WN), agreed to help it pay for this acquisition by purchasing $500 million worth of new shares. Due to the extra shares outstanding, Weston now owns 46% of Loblaw, down from 63% prior to the purchase.

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TORSTAR $7.44 (Toronto symbol TS.B; Shares outstanding: 79.9 million; Market cap: $600.5 million; TSINetwork Rating: Average; Dividend yield: 7.1%; www.torstar.com) gets 60% of its revenue from advertising on its newspapers and their websites, including The Toronto Star, Canada’s largest daily by circulation. Subscriptions account for the remaining 40%.

As part of a new strategy to increase online advertising sales, Torstar plans to drop the paywall on The Toronto Star’s website and launch a new free version for tablet computers.

The shift will likely hurt its 2015 revenue but should attract more readers in the long run. Torstar especially hopes that the tablet edition will attract a younger audience.

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ISHARES MSCI SOUTH KOREA INDEX FUND $57.04 (New York symbol EWY; buy or sell through brokers) aims to track the MSCI Korea Index.

The ETF’s top holdings are Samsung Electronics, 21.0%; SK Hynix Semiconductor, 4.3%; Hyundai Motor Co., 4.0%; Shinhan Financial, 3.1%; Naver (Internet content), 3.0%; Posco (steel), 2.8%; Hyundai Mobis (auto parts), 2.7%; KB Financial, 2.6%; Kia Motors, 1.9%; and Korea Electric Power, 1.9%.

The fund’s industry breakdown is as follows: Information Technology, 38.2%; Consumer Discretionary, 16.6%; Financials, 14.3%; Industrials, 10.6%; Materials, 7.6%; Consumer Staples, 6.2%; Utilities, 2.1%; Energy, 1.6%; Telecommunication Services, 1.2%; and Health Care, 0.7%.

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; buy or sell through brokers) aims to track the MSCI Emerging Markets Index.

Its geographic breakdown includes China, 21.8%; South Korea, 14.4%; Taiwan, 12.7%; Brazil, 8.3%; South Africa, 8.1%; India, 7.5%; Mexico, 4.8%; Russia, 3.7%; Malaysia, 3.6%; Indonesia, 2.7%; Thailand, 2.4%; and Turkey, 1.7%.

The fund’s top holdings are Samsung Electronics (South Korea), 3.4%; Taiwan Semiconductor (computer chips), 3.0%; Tencent Holdings (China: Internet), 2.3%; China Mobile, 2.1%; Naspers (South Africa: media and Internet), 1.5%; China Construction Bank, 1.5%; Industrial & Commercial Bank of China, 1.4%; and Itau Unibanco Holding (Brazil: banking), 0.9%.

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RIOCAN REIT $28.76 (Toronto symbol REI.UN; Units outstanding: 313.9 million; Market cap: $9.2 billion; TSINetwork Rating: Average; Dividend yield: 4.9%; www.riocan.com) has agreed to form a new joint venture with Hudson’s Bay Co. (Toronto symbol HBC).

The REIT will contribute $325 million to this new firm, consisting of 50% of two shopping malls in Oakville and Barrie, Ontario, $52.5 million of property upgrades and $128.1 million in cash. Hudson’s Bay will contribute 10 owned or leased stores in major Canadian cities.

RioCan will own 20.2% of this new business, while Hudson’s Bay will hold the remaining 79.8%. The partners will likely sell shares in the new company to the public, which would help unlock the value of these properties.

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ENERPLUS CORP. $13.06 (Toronto symbol ERF; Shares outstanding: 205.4 million; Market cap: $2.7 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.6%) produces an average of 105,591 barrels of oil equivalent a day (56% gas and 44% oil). The company’s properties are mainly in Alberta, Saskatchewan, B.C., North Dakota and Montana, as well as the Marcellus shale, which passes through Pennsylvania, New York, Ohio and West Virginia.

In the quarter ended December 31, 2014, Enerplus’s production rose 12.1% from a year earlier. That increase, plus higher realized gas prices, pushed cash flow per share up 15.7%, to $1.03 from $0.89.

Like ARC, Enerplus will cut spending this year. Its outlays will now total $480 million, down 24.4% from its original estimate of $635 million and 40.8% from $811.0 million in 2014.

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ARC RESOURCES $24.16 (Toronto symbol ARX; Shares outstanding: 335.0 million; Market cap: $8.2 billion; TSINetwork Rating: Speculative; Dividend yield: 5.1%; www.arcresources.com) produces oil and natural gas in Western Canada. Its average daily output of 117,986 barrels of oil equivalent is 61% gas and 39% oil.

In the quarter ended December 31, 2014, ARC’s cash flow per share rose 3.9%, to $0.79 from $0.76 a year earlier. Realized oil prices fell 12.5%, to $72.49 a barrel from $82.85, but ARC’s production gained 17.0%, and its realized gas prices rose 15.0%.

Like many oil and gas producers, ARC plans to cut back on exploration and development spending. This year, the company will devote $750.0 million to this purpose, down from $945.5 million in 2014.

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GREAT-WEST LIFECO $34.92 (Toronto symbol GWO; Shares outstanding: 996.7 million; Market cap: $35.2 billion; TSINetwork Rating: Above Average; Yield: 3.7%; www.greatwestlifeco.com) has reported strong results in its latest quarter and raised its dividend.

Great-West is Canada’s largest insurance company. It also offers mutual funds and wealth management. Power Financial owns 67.0% of Great-West.

The company’s earnings per share jumped 34.7% in the three months ended December 31, 2014, to $0.66 from $0.49 a year earlier. Revenue rose 33.1%, to $10.7 billion from $8.1 billion.

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