Topic: How To Invest

Hi Pat: Can I please have your opinion on Boralex? I view this company as a three-to-five-year hold in my TFSA. Thanks.

Article Excerpt

Boralex Inc., $13.29, symbol BLX on Toronto (Shares outstanding: 38.3 million; Market cap: $509.9 million; www.boralex.com), generates power from renewable sources, such as wind, hydroelectric, geothermal and solar. The company owns and operates 31 power stations in Quebec, Ontario, B.C., the northeastern U.S. and France. It has a total capacity of 650 megawatts. Wind accounts for 71% of Boralex’s generating capacity, followed by hydroelectric (21%), thermal (7%) and solar (1%). The company is also developing projects, both on its own and with Canadian and European partners, that should add 250 megawatts to its capacity by the end of 2015. In the three months ended March 31, 2014, Boralex’s revenue jumped 48.9%, to $75.5 million from $50.7 million a year earlier. Cash flow per share rose 58.3%, to $0.95 to $0.60. These gains are mainly because Boralex recently started up the first phase of a new wind farm in Gaspe, Quebec. Better wind conditions in France and favourable exchange rates also contributed to the improved…