Updating Loblaw Companies, Algonquin Power & Utilities Corp., and Imperial Oil

Article Excerpt

LOBLAW COMPANIES $55.80 (Toronto symbol L; Shares outstanding: 413.6 million; Market cap: $23.2 billion; TSINetwork Rating: Above Average; Dividend yield: 1.8%; www.loblaw.ca) is testing a smaller version of its discount No Frills supermarkets. These stores, which operate under the Box banner, are cheaper to build than full-sized outlets and can fit in smaller strip malls. That lowers their rental costs. The new Box stores could also help Loblaw compete with Wal-Mart, which may start opening smaller locations in Canada following successful trials in the U.S. Loblaw is a buy. ALGONQUIN POWER & UTILITIES CORP. $8.77 (Toronto symbol AQN; Shares outstanding: 208.0 million; Market cap: $2.0 billion; TSINetwork Rating: Extra Risk; Dividend yield: 4.4%; www.algonquinpower.com) has agreed to buy Park Water Company for $327 million U.S. Algonquin will make the purchase through its Liberty Utilities subsidiary. Park Water owns and operates three regulated water utilities that produce, treat, store, distribute and sell water in southern California and western Montana. The three…

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