price to sales ratio
EMERA INC. $33 (Toronto symbol EMA; Income Portfolio, Utilities sector; Shares outstanding: 147.9 million; Market cap: $4.9 billion; Price-to-sales ratio: 2.2; Dividend yield: 4.4%; 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. Other operations include the Brunswick pipeline, which pumps natural gas from the U.S. to a liquefied natural gas plant in New Brunswick.
Emera aims to start working on a new hydroelectric project on Labrador’s Churchill River by the end of this year. It will invest $600 million for a 29% stake in a new regulated utility, which will transmit power from Churchill River to the island of Newfoundland.
In addition, Emera will spend $1.5 billion to build an undersea cable, called the Maritime Link, that will transmit 20% of the plant’s power to Nova Scotia. Emera will own 100% of this cable. These two projects should begin operating by 2017.
...
Emera aims to start working on a new hydroelectric project on Labrador’s Churchill River by the end of this year. It will invest $600 million for a 29% stake in a new regulated utility, which will transmit power from Churchill River to the island of Newfoundland.
In addition, Emera will spend $1.5 billion to build an undersea cable, called the Maritime Link, that will transmit 20% of the plant’s power to Nova Scotia. Emera will own 100% of this cable. These two projects should begin operating by 2017.
...
FORTIS INC. $32 (Toronto symbol FTS; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 248.9 million; Market cap: $8.0 billion; Price-to-sales ratio: 1.7; Dividend yield 3.9%; TSINetwork Rating: Above Average; www.fortis.ca) is the main electricity supplier in Newfoundland and Prince Edward Island. It also operates power plants in other parts of Canada, the U.S. and the Cayman Islands. In addition, wholly owned FortisBC Energy distributes natural gas in B.C.
Fortis recently completed its takeover of CH Energy Group, which supplies gas and power in New York State. Fortis paid $1.5 billion U.S., including the assumption of $500 million U.S. of CH’s debt.
The company made several concessions to win regulatory approval, including freezing electricity rates until June 2015. It also extended the contract of CH’s main union by one year, to April 30, 2017. These moves will hurt CH’s contribution to Fortis’s earnings, at least in the short term.
...
Fortis recently completed its takeover of CH Energy Group, which supplies gas and power in New York State. Fortis paid $1.5 billion U.S., including the assumption of $500 million U.S. of CH’s debt.
The company made several concessions to win regulatory approval, including freezing electricity rates until June 2015. It also extended the contract of CH’s main union by one year, to April 30, 2017. These moves will hurt CH’s contribution to Fortis’s earnings, at least in the short term.
...
ATCO LTD. (Toronto symbols ACO.X [class I non-voting] $44 and ACO.Y [class II voting] $44; Income Portfolio, Utilities sector; Shares outstanding: 115.2 million; Market cap: $5.1 billion; Price-to-sales ratio: 1.3; Dividend yield: 1.7%; TSINetwork Rating: Above Average; www.atco.com) is a holding company. Its main subsidiary is 52.9%-owned Canadian Utilities (see left). It also owns 75.5% of ATCO Structures & Logistics, which builds temporary buildings for construction companies and energy exploration firms; Canadian Utilities owns the remaining 24.5%.
In the three months ended March 31, 2013, ATCO’s revenue rose 5.6% to $1.1 billion from $1.0 billion a year earlier. That’s mainly due to the higher contribution from Canadian Utilities. Revenue at its Structures division fell 0.9% after it completed several major projects in 2012.
Earnings fell 1.7%, to $117 million, or $1.01 a share, from $119 million, or $1.03. (All per-share amounts adjusted for a 2-for-1 stock split in May 2013.)
...
In the three months ended March 31, 2013, ATCO’s revenue rose 5.6% to $1.1 billion from $1.0 billion a year earlier. That’s mainly due to the higher contribution from Canadian Utilities. Revenue at its Structures division fell 0.9% after it completed several major projects in 2012.
Earnings fell 1.7%, to $117 million, or $1.01 a share, from $119 million, or $1.03. (All per-share amounts adjusted for a 2-for-1 stock split in May 2013.)
...
CANADIAN UTILITIES LTD. (Toronto symbols CU [class A non-voting] $36 and CU.X [class B voting] $36; Income Portfolio, Utilities sector; Shares outstanding: 258.2 million; Market cap: $9.3 billion; Price-to-sales ratio: 3.2; Dividend yield: 2.7%; TSINetwork Rating: Above Average; www. canadianutilities.com) distributes electricity and natural gas in Alberta and Australia. It also operates 18 power plants in Canada, Australia and the U.K. ATCO Ltd. (see right) owns 52.9% of the company.
In the quarter ended March 31, 2013, Canadian Utilities earned $183 million, down 3.7% from $190 million a year earlier. Earnings per share fell 4.2%, to $0.68 from $0.71. (All per-share amounts adjusted for a 2-for-1 stock split in May 2013.)
Without unusual items, mainly deferred payments from or refunds paid to customers, earnings would have risen 3.4%. Revenue gained 8.0%, to $876 million from $811 million. Colder-than-normal winter weather increased demand for electricity and natural gas. Higher rates in Australia also contributed to the gain.
...
In the quarter ended March 31, 2013, Canadian Utilities earned $183 million, down 3.7% from $190 million a year earlier. Earnings per share fell 4.2%, to $0.68 from $0.71. (All per-share amounts adjusted for a 2-for-1 stock split in May 2013.)
Without unusual items, mainly deferred payments from or refunds paid to customers, earnings would have risen 3.4%. Revenue gained 8.0%, to $876 million from $811 million. Colder-than-normal winter weather increased demand for electricity and natural gas. Higher rates in Australia also contributed to the gain.
...
CANADIAN PACIFIC RAILWAY LTD. $129 (Toronto symbol CP; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 175.0 million; Market cap: $22.6 billion; Price-to-sales ratio: 3.9; Dividend yield: 1.1%; TSINetwork Rating: Above Average; www.cpr.ca) expects to ship 70,000 carloads of crude oil in 2013, up sharply from just 13,000 in 2011.
However, the crash could hurt the oil-by-rail boom. (Note: Montreal, Maine and Atlantic Ltd., operated the train involved in the crash, not CP.)
It seems likely that regulators will require railways to replace their current tanker cars with models that can better withstand collisions. They may also demand that railways place more workers on their trains, and install automatic-braking equipment.
...
However, the crash could hurt the oil-by-rail boom. (Note: Montreal, Maine and Atlantic Ltd., operated the train involved in the crash, not CP.)
It seems likely that regulators will require railways to replace their current tanker cars with models that can better withstand collisions. They may also demand that railways place more workers on their trains, and install automatic-braking equipment.
...
Like Cisco (see page 71), sales and earnings growth at these four technology giants have waned, as they turn into traditional cyclical growth stocks that are more sensitive to swings in the overall economy.
However, they are still leaders in their fields....
However, they are still leaders in their fields....
INTERNATIONAL BUSINESS MACHINES CORP. $197 (New York symbol IBM, Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 1.1 billion; Market cap: $216.7 billion; Price-to-sales ratio: 2.2; Dividend yield: 1.9%; TSINetwork Rating: Above Average; www.ibm.com) continues to enjoy strong demand for its software, as it helps businesses analyze large amounts of data and improve their efficiency....
CINTAS CORP. $48 (Nasdaq symbol CTAS; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 122.3 million; Market cap: $5.9 billion; Price-to-sales ratio: 1.4; Dividend yield: 1.3%; TSINetwork Rating: Average; www.cintas- .com) designs and makes uniforms, which it sells to over 900,000 businesses, mainly in North America....
FEDEX CORP. $106 (New York symbol FDX; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 316.6 million; Market cap: $33.6 billion; Price-to-sales ratio: 0.8; Dividend yield: 0.6%; TSINetwork Rating: Average; www.fedex.com) delivers packages and documents in the U.S....
These two leading banks continue to benefit as more borrowers repay their loans on time. That’s helping them offset weaker demand for new residential mortgages and business loans. As well, both firms continue to cut costs, which gives them more room to raise their dividends.
WELLS FARGO & CO....
WELLS FARGO & CO....