Updates on CRESCENT POINT ENERGY CORP., LOBLAW COMPANIES and ENCANA CORP.

Article Excerpt

CRESCENT POINT ENERGY CORP. $34.74 (Toronto symbol CPG; Shares outstanding: 159.3 million; Market cap: $5.5 billion; SI Rating: Extra Risk) is the new name of Crescent Point Energy Trust. The trust recently converted itself into a conventional corporation. Crescent Point produces oil and natural gas in western Canada. Its production is weighted 87% toward oil and 13% to gas. The company is maintaining its $0.23-a-share monthly dividend, for a current yield of 7.9%. That rate represents approximately 65% of Crescent Point’s cash flow per share. That gives it lots of room to keep paying that dividend and continue investing in exploration and development. Its $611.5-million debt is low, at just 11% of its market cap. The oil and gas producer remains focused on its Bakken light-oil development in Saskatchewan, which is one of western Canada’s largest oil fields. Crescent Point Energy is a buy — and we’re moving it to our Safety-Conscious Stock Portfolio. LOBLAW COMPANIES $33.85 (Toronto symbol L; Shares outstanding: 274.2 million; Market…