Here are Two Best Buys in Income Trusts

Article Excerpt

GREAT LAKES HYDRO INCOME FUND $20.30 (Toronto symbol GLH.UN; SI Rating: Extra Risk) owns 26 hydroelectric generating stations located on seven river systems in four distinct geographic regions: Quebec, Ontario, British Columbia and New England. Its facilities have 1,015 megawatts of generating capacity. In the three months ended March 31, 2007, Great Lakes’ revenues fell 1.2%, to $48.2 million from $48.8 million. Cash flow per share fell 3.8%, to $0.51 from $0.53. Power generation in British Columbia was lower due to an overhaul on an operating unit at the Lois facility. Total power generated was slightly lower than in the 2006 quarter, when water inflows were unusually strong. Great Lakes is 50.1% owned by Brookfield Asset Management (formerly Brascan). That enhances its ability to raise capital. Great Lakes raised its monthly distribution twice last year. It now yields 6.2%. Great Lakes Hydro Income Fund is still a buy. FORT CHICAGO ENERGY TRUST $10.64 (Toronto symbol FCE.UN; SI Rating: Extra Risk) owns 50% of the Alliance…

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