emera
Toronto symbol EMA, generates and distributes electricity to customers in Nova Scotia and Bangor, Maine.
ALGONQUIN POWER & UTILITIES CORP. $10.41 (Toronto symbol AQN; Shares outstanding: 238.1 million; Market cap: $2.5 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.8%; www.algonquinpower.com) has nearly tripled in size over the past three years through acquisitions. Now it’s expanding further with new purchases. The most recent was late last year, when Algonquin paid $327 million U.S. for Park Water, owner of three regulated water utilities with 74,000 customers in California and Montana. Algonquin’s regulated utility businesses now provide water, electricity and natural gas to over 488,000 customers, up sharply from 120,000 three years ago. In addition, its hydroelectric, thermal energy, solar and wind facilities generate 1,150 megawatts, up from 460....
ALGONQUIN POWER & UTILITIES CORP. $10.41 (Toronto symbol AQN; Shares outstanding: 238.1 million; Market cap: $2.5 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.8%; www.algonquinpower.com) has nearly tripled in size over the past three years through acquisitions. Now it’s expanding further with new purchases.
The most recent was late last year, when Algonquin paid $327 million U.S. for Park Water, owner of three regulated water utilities with 74,000 customers in California and Montana.
Algonquin’s regulated utility businesses now provide water, electricity and natural gas to over 488,000 customers, up sharply from 120,000 three years ago. In addition, its hydroelectric, thermal energy, solar and wind facilities generate 1,150 megawatts, up from 460.
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The most recent was late last year, when Algonquin paid $327 million U.S. for Park Water, owner of three regulated water utilities with 74,000 customers in California and Montana.
Algonquin’s regulated utility businesses now provide water, electricity and natural gas to over 488,000 customers, up sharply from 120,000 three years ago. In addition, its hydroelectric, thermal energy, solar and wind facilities generate 1,150 megawatts, up from 460.
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SUNCOR ENERGY INC., $40.52, Toronto symbol SU, plans to spend between $7.2 billion and $7.8 billion to expand and upgrade its operations in 2015. To put these figures in context, the company’s cash flow was $7.6 billion in the first nine months of 2014. Suncor will invest 55% of the 2015 estimate, or $4.3 billion, in its oil sands and other growth projects. The remaining 45% will go to refineries and conventional oil and gas properties. The midpoint of the 2015 range is 10.3% higher than the $6.8 billion the company expects to spend this year—even though oil prices have fallen by more than 20% in the past six months. Suncor feels its new oil sands projects can still generate positive cash flow at today’s prices....
We still think investors will profit most—and with the least risk—by buying shares of well-established, dividend-paying stocks with strong business prospects.
These are companies that have strong positions in healthy industries. They also have strong management that will make the right moves to remain competitive in a changing marketplace.
Stocks like these give investors an additional measure of safety in today’s volatile markets. And the best ones offer an attractive combination of moderate p/e’s (the ratio of a stock’s price to its per-share earnings), steady or rising dividend yields (annual dividend divided by the share price) and promising growth prospects.
Here are 20 stocks we think meet those criteria:
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These are companies that have strong positions in healthy industries. They also have strong management that will make the right moves to remain competitive in a changing marketplace.
Stocks like these give investors an additional measure of safety in today’s volatile markets. And the best ones offer an attractive combination of moderate p/e’s (the ratio of a stock’s price to its per-share earnings), steady or rising dividend yields (annual dividend divided by the share price) and promising growth prospects.
Here are 20 stocks we think meet those criteria:
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EMERA INC. $36 (Toronto symbol EMA; Income Portfolio, Utilities sector; Shares outstanding: 142.6 million; Market cap: $5.1 billion; Price-to-sales ratio: 1.8; Dividend yield: 4.3%; TSINetwork Rating: Average; www.emera.com) is Nova Scotia’s main power supplier. It also holds interests in electrical utilities in the U.S. and the Caribbean.
The company has raised its quarterly dividend by 6.9%, to $0.3875 a share from $0.3625. The new annual rate of $1.55 yields 4.3%.
In addition, Emera announced that it expects to increase its dividend by 6% annually for the next five years.
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The company has raised its quarterly dividend by 6.9%, to $0.3875 a share from $0.3625. The new annual rate of $1.55 yields 4.3%.
In addition, Emera announced that it expects to increase its dividend by 6% annually for the next five years.
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ALGONQUIN POWER & UTILITIES CORP. $8.77 (Toronto symbol AQN; Shares outstanding: 208.0 million; Market cap: $2.0 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.4%; www.algonquinpower.com) has agreed to buy Park Water Company for $327 million U.S. Algonquin will make the purchase through its Liberty Utilities subsidiary.
Park Water owns and operates three regulated water utilities that produce, treat, store, distribute and sell water in southern California and western Montana. The three utilities collectively serve 74,000 customers and have more than 1,000 miles of distribution pipelines.
Algonquin is also buying the Odell project, a 200-megawatt wind farm in the U.S. that’s currently under construction. The project, which spans Minnesota’s Cottonwood, Jackson, Martin and Watonwan Counties, will cost an estimated $313.5 million U.S. to complete.
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Park Water owns and operates three regulated water utilities that produce, treat, store, distribute and sell water in southern California and western Montana. The three utilities collectively serve 74,000 customers and have more than 1,000 miles of distribution pipelines.
Algonquin is also buying the Odell project, a 200-megawatt wind farm in the U.S. that’s currently under construction. The project, which spans Minnesota’s Cottonwood, Jackson, Martin and Watonwan Counties, will cost an estimated $313.5 million U.S. to complete.
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CANADIAN PACIFIC RAILWAY LTD., $224.99, Toronto symbol CP, recently offered to merge with CSX Corp. (New York symbol CSX), the third-largest railway in the U.S. CSX has rejected the proposal. A merger would help CP ship more crude oil from producers in North Dakota’s Bakken region to refineries in the Midwest and on the U.S. east coast. It would also help CP speed up shipments, because the company would not have to transfer railcars to another railway. The combined firm would be one of North America’s largest railways. However, regulators would have likely blocked the merger or required CP and CSX to sell significant parts of their operations. Still, the prospect of a future deal adds to CP’s long-term appeal....
CANADIAN PACIFIC RAILWAY LTD. $231(Toronto symbol CP; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 171.5 million; Market cap: $39.6 billion; Price-to-sales ratio: 6.4; Dividend yield: 0.6%; TSINetwork Rating: Above Average; www.cpr.ca) prefers to use its excess cash to buy back shares instead of raising its dividend. That’s because many of its investors live in the U.S. and are subject to withholding taxes on dividends from Canadian firms. The company could repurchase up to 5.3 million shares under its latest authorization. It has now reached this limit, so it has increased its target to 12.65 million shares, or 7% of the total outstanding. It expects to complete these purchases by March 16, 2015. CP Rail is a buy....
LOBLAW COMPANIES $55.80 (Toronto symbol L; Shares outstanding: 413.6 million; Market cap: $23.2 billion; TSINetwork Rating: Above Average; Dividend yield: 1.8%; www.loblaw.ca) is testing a smaller version of its discount No Frills supermarkets. These stores, which operate under the Box banner, are cheaper to build than full-sized outlets and can fit in smaller strip malls. That lowers their rental costs. The new Box stores could also help Loblaw compete with Wal-Mart, which may start opening smaller locations in Canada following successful trials in the U.S. Loblaw is a buy....
EMERA INC. $34 (Toronto symbol EMA; Income Portfolio, Utilities sector; Shares outstanding: 142.6 million; Market cap: $4.8 billion; Price-to-sales ratio: 1.8; Dividend yield: 4.3%; TSINetwork Rating: Average; www.emera.com) is Nova Scotia’s main power supplier. It also holds interests in electrical utilities in the U.S. and the Caribbean.
Emera is currently building the Maritime Link, which will transmit electricity from the island of Newfoundland to Nova Scotia through an undersea cable. The power will come from a new hydroelectric project on Labrador’s Churchill River. The company will spend $1.6 billion on Maritime Link, which should begin operating in 2017.
Separately, Emera will pay $390 million for a 34.9% stake in a new utility that will transmit power from Churchill River to Newfoundland.
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Emera is currently building the Maritime Link, which will transmit electricity from the island of Newfoundland to Nova Scotia through an undersea cable. The power will come from a new hydroelectric project on Labrador’s Churchill River. The company will spend $1.6 billion on Maritime Link, which should begin operating in 2017.
Separately, Emera will pay $390 million for a 34.9% stake in a new utility that will transmit power from Churchill River to Newfoundland.
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