monthly dividend
AltaGas Ltd., $30.89, symbol ALA on Toronto (Shares outstanding: 147.3 million; Market cap: $4.5 billion; www.altagas.ca), processes, transports, stores and markets natural gas for producers. The company also operates natural gas utilities, and it is a power generator, with gas-fired, coal-fired, wind, biomass and hydroelectric plants. Acquisitions and $1.7 billion in new projects increased AltaGas’s revenue from $1.3 billion in 2011 to $2.4 billion in 2014—an 88% jump. Revenue then fell to $2.2 billion in 2015, due to lower selling prices for natural gas and weaker power prices in Alberta. Cash flow per share gained 42.5%, from $2.61 in 2011 to $3.72 in 2014; it declined to $3.41 in 2015....
Auto sales are up worldwide
The global automotive industry has rebounded strongly in the wake of the 2008 financial crisis, which prompted the Canadian and U.S. governments to bail out General Motors and Chrysler.
Pent-up demand after the recent recession, improving U.S....
BONAVISTA ENERGY $2.76 (Toronto symbol BNP; Shares outstanding: 214.0 million; Market cap: $626.1 million; TSINetwork Rating: Extra Risk; Dividend yield: 4.4%; www.bonavistaenergy.com) explores for oil and gas in Alberta, Saskatchewan and B.C. Its output is 68% gas and 32% oil. In the quarter ended December 31, 2015, Bonavista’s cash flow per share fell 30.2%, to $0.44 from $0.63 a year earlier. Most of that drop came from lower oil and gas prices, but also because of falling output. It declined 6.9%, to 79,862 barrels of oil equivalent per day from 85,810 barrels. Like many producers, the company will cut its exploration and development. In 2016, it plans to spend $145 million to $190 million. That’s a reduction from Bonavista’s initial announcement of $210 million, which is down from the $283.4 million it spent in 2015. It spent $639.6 million in 2014....
PEYTO EXPLORATION & DEVELOPMENT CORP. $30.95 (Toronto symbol PEY; Shares outstanding: 159.2 million; Market cap: $4.9 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.3%; www.peyto.com) produces and explores for oil and natural gas in Alberta. Its average daily production of 97,028 barrels of oil equivalent is 93% gas and 7% oil. In the three months ended December 31, 2015, Peyto’s cash flow fell 15.9%, to $0.95 a share from $1.13 a year ago. It raised its production by 16.5%, but that was offset by lower oil and gas prices. Its realized oil price year over year fell 28.1%, and natural gas prices fell 20.9%. The company has cut it’s original 2016 capital spending of $600 million to $650 million down to between $500 million and $550 million. It spent $594 million in 2015....
PEMBINA PIPELINE $34.61 (Toronto symbol PPL; Shares outstanding: 373.4 million; Market cap: $12.7 billion; TSINetwork Rating: Average; Dividend yield: 5.0%; www.pembina.com) owns pipelines that carry half of Alberta’s conventional oil and almost all of B.C.’s oil. It also carries 30% of Western Canada’s natural gas liquids (NGLs). Pembina owns extensive facilities to extract, process and store NGLs, as well as natural gas processing plants. In the three months ended December 31, 2015, the company’s cash flow per share jumped 57.0%, to $0.77 from $0.49 a year earlier. New plants starting up boosted volumes at its NGL extraction business....
PEMBINA PIPELINE $34.61 (Toronto symbol PPL; Shares outstanding: 373.4 million; Market cap: $12.7 billion; TSINetwork Rating: Average; Dividend yield: 5.0%; www.pembina.com) owns pipelines that carry half of Alberta’s conventional oil and almost all of B.C.’s oil. It also carries 30% of Western Canada’s natural gas liquids (NGLs). Pembina owns extensive facilities to extract, process and store NGLs, as well as natural gas processing plants. In the three months ended December 31, 2015, the company’s cash flow per share jumped 57.0%, to $0.77 from $0.49 a year earlier. New plants starting up boosted volumes at its NGL extraction business....
ARC RESOURCES $18.38 (Toronto symbol ARX; Shares outstanding: 348.3 million; Market cap: $6.2 billion; TSINetwork Rating: Speculative; Dividend yield: 3.3%; www.arcresources.com) produces oil and natural gas in Western Canada. Its average daily output of 119,243 barrels of oil equivalent is 66% gas and 34% oil. In the three months ended December 31, 2015, ARC’s cash flow per share dropped 26.6%, to $0.58 from $0.79 a year earlier. Production increased 1.1%, but its realized oil price fell 32.1%. Gas prices declined 37.6%. Like many oil and gas producers, ARC is cutting exploration and development spending. In 2016, it will devote $390.0 million to this purpose. That’s down 29.1% from $550.0 in 2015....
CRESCENT POINT ENERGY $17.64 (Toronto symbol CPG; Shares outstanding: 504.9 million; Market cap: $8.7 billion; TSINetwork Rating: Extra Risk; Dividend y ield: 2.0%; www.crescentpointenergy.com) produces oil and natural gas in Western Canada, with a focus on its Bakken light oil development in southeastern Saskatchewan. Its output is 90% oil and 10% gas. In the three months ended December 31, 2015, Crescent Point’s cash flow fell 13.3%, to $496.7 million from $572.8 million a year earlier. The company raised its daily output by 14.5%, but lower oil and gas prices offset that increase. Cash flow per share dropped 23.4%, to $0.98 from $1.28, because Crescent Point issued shares to pay for acquisitions. They include the $1.5 billion the company paid for Legacy Oil + Gas in June 2015....
ARC RESOURCES $18.38 (Toronto symbol ARX; Shares outstanding: 348.3 million; Market cap: $6.2 billion; TSINetwork Rating: Speculative; Dividend yield: 3.3%; www.arcresources.com) produces oil and natural gas in Western Canada. Its average daily output of 119,243 barrels of oil equivalent is 66% gas and 34% oil. In the three months ended December 31, 2015, ARC’s cash flow per share dropped 26.6%, to $0.58 from $0.79 a year earlier. Production increased 1.1%, but its realized oil price fell 32.1%. Gas prices declined 37.6%. Like many oil and gas producers, ARC is cutting exploration and development spending. In 2016, it will devote $390.0 million to this purpose. That’s down 29.1% from $550.0 in 2015....
Goldcorp has sold assets and cut its production and dividend to preserve cash until gold prices rebound