Updates Algonquin Power & Utilities, TransCanada Corp., and Newmont Mining

Article Excerpt

ALGONQUIN POWER & UTILITIES $13.53 (Toronto symbol AQN; Shares outstanding: 470.6 million; Market cap: $6.6 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.9%; www.algonquinpower.com) has bought the natural gas distribution operations of Enbridge Inc. in New Brunswick for $331 million. New Brunswick Gas is a regulated utility that provides natural gas to roughly 12,000 customers in 12 communities across New Brunswick. The firm also operates about 800 kilometres of natural gas distribution pipeline. That new business will add immediately to Algonquin’s cash flow per share. Algonquin Power & Utilities is a buy. TRANSCANADA CORP. $50.41 (Toronto symbol TRP; Shares outstanding: 914.0 million; Market cap: $44.5 billion; Above Average; Dividend yield: 5.5%; www.transcanada.com) acquired Texas-based Columbia Pipeline Group for $13.0 billion U.S. in July 2016. Columbia operates natural gas pipelines in the U.S. Northeast, Midwest, Mid-Atlantic and Gulf Coast regions; it also operates underground gas storage terminals. TransCanada borrowed most of the funds it needed to buy Columbia. That lifted long-term debt to $35.0 billion (as of September 30, 2018), or…