emera
Toronto symbol EMA, generates and distributes electricity to customers in Nova Scotia and Bangor, Maine.
EMERA INC. $35 (Toronto symbol EMA; Income Portfolio, Utilities sector; Shares outstanding: 123.9 million; Market cap: $4.3 billion; Price-to-sales ratio: 2.0; Dividend yield: 4.0%; TSINetwork Rating: Average; www.emera.com) owns Nova Scotia Power, which is that province’s main electricity supplier. It also owns electrical utilities in the U.S. and the Caribbean.
In the three months ended June 30, 2012, revenue fell 0.1%, to $501.3 million from $501.7 million a year earlier. Two large industrial customers in Nova Scotia closed their operations, which cut electricity sales in the province by 19.8%. That offset the positive impact of higher power rates.
However, earnings jumped 44.7%, to $46.3 million from $32.0 million a year earlier. Because it had slightly more shares outstanding, earnings per share rose 42.3%, to $0.37 from $0.26. If you exclude a gain on an investment, Emera would have earned $0.28 a share in the latest quarter.
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In the three months ended June 30, 2012, revenue fell 0.1%, to $501.3 million from $501.7 million a year earlier. Two large industrial customers in Nova Scotia closed their operations, which cut electricity sales in the province by 19.8%. That offset the positive impact of higher power rates.
However, earnings jumped 44.7%, to $46.3 million from $32.0 million a year earlier. Because it had slightly more shares outstanding, earnings per share rose 42.3%, to $0.37 from $0.26. If you exclude a gain on an investment, Emera would have earned $0.28 a share in the latest quarter.
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These five electric utilities are using their strong cash flows to make acquisitions and invest in new projects. These moves will enhance their long-term prospects and give them more cash for dividends. However, not all are buys right now. TRANSCANADA CORP. $44 (Toronto symbol TRP; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 704.0 million; Market cap: $31.0 billion; Price-to-sales ratio: 3.6; Dividend yield: 4.0%; TSINetwork Rating: Above Average; www.transcanada.com) is mainly known for its natural gas and oil pipelines. However, the company continues to expand its electrical-power business. TransCanada’s 19 power plants in Canada and the U.S. now supply 30% of its revenue. The company has agreed to build a new gas-fired power plant near Napanee, Ontario, as part of a deal with the Ontario Power Authority (OPA), which regulates the province’s power producers. This new plant will replace a plant that TransCanada previously agreed to build in Oakville, Ontario....
CENOVUS ENERGY INC., $34.42, Toronto symbol CVE, has agreed to buy oil sands properties in northern Alberta and Saskatchewan held by Oilsands Quest, which went bankrupt in November 2011. Cenovus will pay $10 million when the sale closes next week. This is a small purchase for the company, which reported cash flow of $925 million, or $1.22 a share, in the three months ended June 30, 2012. Most of these new properties are next to to Cenovus’s 100%-owned Telephone Lake oil sands project. If regulators approve, the company could begin developing Telephone Lake in 2014....
ALGONQUIN POWER & UTILITIES CORP. $6.55 (Toronto symbol AQN; Shares outstanding: 159.1 million; Market cap: $1.0 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.3%; www.algonquinpower.com) holds interests in 45 hydroelectric plants in Canada and the northeastern U.S. It also owns 12 thermal energy facilities. Algonquin’s wholly owned subsidiary, Liberty Water Co., owns 19 water-distribution and sewagetreatment plants in the U.S.
The company also has a partnership with Emera Inc. (Toronto symbol EMA), which is a recommendation of The Successful Investor, our conservative growth advisory. Emera holds a 25% interest in Algonquin. This partnership, called Liberty Energy Utilities, continues to make acquisitions.
Liberty Energy’s purchases include NV Energy, which sells power to 47,000 customers near Lake Tahoe; Atmos Energy, which distributes natural gas to 77,000 customers in Missouri, Iowa and Illinois; and two other utilities that sell electricity and natural gas to 126,000 customers in New Hampshire.
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The company also has a partnership with Emera Inc. (Toronto symbol EMA), which is a recommendation of The Successful Investor, our conservative growth advisory. Emera holds a 25% interest in Algonquin. This partnership, called Liberty Energy Utilities, continues to make acquisitions.
Liberty Energy’s purchases include NV Energy, which sells power to 47,000 customers near Lake Tahoe; Atmos Energy, which distributes natural gas to 77,000 customers in Missouri, Iowa and Illinois; and two other utilities that sell electricity and natural gas to 126,000 customers in New Hampshire.
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EMERA INC. $33 (Toronto symbol EMA; Income Portfolio, Utilities sector; Shares outstanding: 123.5 million; Market cap: $4.1 billion; Price-to-sales ratio: 1.9; Dividend yield: 4.1%; TSINetwork Rating: Average; www.emera.com) gets 75% of its revenue and 65% of its earnings from Nova Scotia Power Inc., which is that province’s main electricity supplier. Emera also continues to expand outside Nova Scotia.
The company owns the Brunswick Pipeline, which pumps natural gas from the U.S. to a liquefied natural gas plant in Saint John, New Brunswick. It has also acquired electrical utilities in the U.S. and the Caribbean.
Revenue and earnings have soared
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The company owns the Brunswick Pipeline, which pumps natural gas from the U.S. to a liquefied natural gas plant in Saint John, New Brunswick. It has also acquired electrical utilities in the U.S. and the Caribbean.
Revenue and earnings have soared
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EMERA INC. $33 (Toronto symbol EMA; Income Portfolio, Utilities sector; Shares outstanding: 123.5 million; Market cap: $4.1 billion; Price-to-sales ratio: 1.9; Dividend yield: 4.1%; TSINetwork Rating: Average; www.emera.com) gets 75% of its revenue and 65% of its earnings from Nova Scotia Power Inc., which is that province’s main electricity supplier. Emera also continues to expand outside Nova Scotia. The company owns the Brunswick Pipeline, which pumps natural gas from the U.S. to a liquefied natural gas plant in Saint John, New Brunswick. It has also acquired electrical utilities in the U.S. and the Caribbean. Revenue and earnings have soared...
ALGONQUIN POWER & UTILITIES CORP. $6.55 (Toronto symbol AQN; Shares outstanding: 159.1 million; Market cap: $1.0 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.3%; www.algonquinpower.com) holds interests in 45 hydroelectric plants in Canada and the northeastern U.S. It also owns 12 thermal energy facilities. Algonquin’s wholly owned subsidiary, Liberty Water Co., owns 19 water-distribution and sewagetreatment plants in the U.S. The company also has a partnership with Emera Inc. (Toronto symbol EMA), which is a recommendation of The Successful Investor, our conservative growth advisory. Emera holds a 25% interest in Algonquin. This partnership, called Liberty Energy Utilities, continues to make acquisitions. Liberty Energy’s purchases include NV Energy, which sells power to 47,000 customers near Lake Tahoe; Atmos Energy, which distributes natural gas to 77,000 customers in Missouri, Iowa and Illinois; and two other utilities that sell electricity and natural gas to 126,000 customers in New Hampshire....
ALGONQUIN POWER & UTILITIES CORP. $6.20 (Toronto symbol AQN; Shares outstanding: 136.1 million; Market cap: $843.8 million; TSINetwork Rating: Extra Risk; Dividend yield: 4.5%; www.algonquinpower.com) holds interests in 45 hydroelectric plants in Canada and the northeastern U.S. It also owns 12 thermal energy facilities. Algonquin’s wholly owned subsidiary, Liberty Water Co., owns 19 water-distribution and sewage treatment plants in the U.S.
The company also has a partnership with Emera Inc. (Toronto symbol EMA), which is a recommendation of The Successful Investor, our conservative growth advisory. Emera holds a 24.4% interest in Algonquin. This partnership, called Liberty Energy Utilities, continues to make acquisitions.
Liberty Energy’s purchases include NV Energy, which sells power to 47,000 customers near Lake Tahoe; Atmos Energy, which distributes natural gas to 83,000 customers in Missouri, Iowa and Illinois; and two other utilities that sell electricity and natural gas to 130,000 customers in New Hampshire.
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The company also has a partnership with Emera Inc. (Toronto symbol EMA), which is a recommendation of The Successful Investor, our conservative growth advisory. Emera holds a 24.4% interest in Algonquin. This partnership, called Liberty Energy Utilities, continues to make acquisitions.
Liberty Energy’s purchases include NV Energy, which sells power to 47,000 customers near Lake Tahoe; Atmos Energy, which distributes natural gas to 83,000 customers in Missouri, Iowa and Illinois; and two other utilities that sell electricity and natural gas to 130,000 customers in New Hampshire.
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BCE INC. $39.64, Toronto symbol BCE, is buying Astral Media Inc. (Toronto symbols ACM.A and ACM.B). Montreal-based Astral owns 22 TV stations, 84 radio stations and several pay TV and specialty channels, such as The Movie Network, Family Channel and Teletoon. It also owns billboards and sells other outdoor advertising services in Quebec, Ontario and B.C. The purchase price is $3.4 billion, including $380 million of Astral’s debt. BCE will pay roughly 75% of this cost in cash and 25% in common shares. To put this purchase in context, BCE earned $2.4 billion, or $3.13 a share, in 2011....
ALGONQUIN POWER & UTILITIES CORP. $6.20 (Toronto symbol AQN; Shares outstanding: 136.1 million; Market cap: $843.8 million; TSINetwork Rating: Extra Risk; Dividend yield: 4.5%; www.algonquinpower.com) holds interests in 45 hydroelectric plants in Canada and the northeastern U.S. It also owns 12 thermal energy facilities. Algonquin’s wholly owned subsidiary, Liberty Water Co., owns 19 water-distribution and sewage treatment plants in the U.S. The company also has a partnership with Emera Inc. (Toronto symbol EMA), which is a recommendation of The Successful Investor, our conservative growth advisory. Emera holds a 24.4% interest in Algonquin. This partnership, called Liberty Energy Utilities, continues to make acquisitions. Liberty Energy’s purchases include NV Energy, which sells power to 47,000 customers near Lake Tahoe; Atmos Energy, which distributes natural gas to 83,000 customers in Missouri, Iowa and Illinois; and two other utilities that sell electricity and natural gas to 130,000 customers in New Hampshire....