Updating Cedar Fair L.P., Windstream Corp., and Idearc Inc.

Article Excerpt

CEDAR FAIR L.P. $29 (New York symbol FUN) has stayed in a narrow range for the past few months, partly due to concerns over the partnership’s high long-term debt (5.7 times equity) following last year’s purchase of five theme parks. But thanks to extra cash flow from these new assets, Cedar Fair recently increased its annual distribution rate from $1.88 a unit to $1.90 (6.6% yield). Best Buy. WINDSTREAM CORP. $15 (New York symbol WIN) has also made little progress since Alltel Corp. spun it off in July 2006. But most investors own Windstream for its $1.00 dividend, which yields 6.7%. Although the company is losing traditional telephone customers to cable companies, strong demand for high-speed Internet and digital TV services should give it enough cash to cover the dividend. Buy. IDEARC INC. $38 (New York symbol IAR) earned $0.82 a share in the first quarter of 2007, down 2.4% from $0.84 a year earlier. These are pro-forma figures that assume Verizon…