| HOLD | 27.400 | Sandy McIntyre | Good management and good asset base. Decent yield. | 2008-08-15 | |
| DON'T BUY | 27.200 | Michael Sprung | The substantial payout ratio of 84% doesn't leave a lot of room for declining cash flows to cover distributions. Very good business and operation but not sure where the growth is going to come from. There are also more competitors coming in. Wouldn't look at holding this for the long term. | 2008-08-14 | |
| BUY | 26.740 | Andrew Guy, CFA | Very conservative company. Has been caught up in the volatility of the telecom sector as well as uncertainty of the future of its largest shareholder BCE. Generates great free cash flow. Good levels. | 2008-07-22 | |
| TOP PICK | 29.800 | Ross Healey | One of the few income trusts that are really solid. When they convert back into businesses, his suspicion is that this one is really cheap. Good 10% yield. Very well run business and very stable. | 2008-06-05 | |
| HOLD | 30.370 | Kevin Hall BComm, CFA | Has probably been one of the best performing telecom stock. Pretty steady performer but wouldn't put new money in. | 2008-05-06 | |
| Comment | 30.390 | Peter Brieger | 60% controlled by Bell Canada (BCE-T). Likes it because of the income. Its future is a bit cloudy based on when the Teachers Pension takes over BCE. | 2008-05-01 | |
| Comment | 30.170 | Robert Floyd | Doesn't see any material change if the BCE (BCE-T) deal goes through. 9.6% yield. This would be one for an income portfolio. | 2008-04-29 | |
| BUY | 30.490 | Norman Levine | A rural wire line telephone company in eastern Canada and some rural parts of Ontario and Quebec. Wire line is a shrinking business. Not a lot of capital expenditure so they are paying income out to shareholders. Not a growth business. Pays about 10%. | 2008-04-10 | |
| BUY | 29.010 | Norman Levine | (Market Call Minute.) This gives you a 10% yield with minimal downside risk. | 2008-03-10 | |
| Comment | 29.290 | Gavin Graham | With East Link coming into Halifax and doing Voice over Internet this company lost about one third of its market share in landlines in 3 years. Probably all the adapters have moved and you do have both landlines and mobile. The real problem is that it is paying out almost 96% of its cash flow so when it starts paying tax in 2010, it may have to cut its payout. | 2008-03-06 | |
| Comment | 29.440 | Bill Shaw | Distribution is fairly safe and solid. Decent yield. Should continue to do reasonably well. There are more attractive opportunities in the telecom sector such as Telus (T-T), Bell Canada (BCE-T) and Manitoba Tel (MBT-T) and the yields are not too far off this one. | 2008-02-19 | |
| BUY | 29.000 | David Burrows | Telecom has not been a space that has been performing well. There are concerns about wire line revenues as well as the wireless side. If he had to pick one it would be this, which is paying about 9.5%. Just recently raised their distribution and only paying out about 90% of cash flow. Technically it has been performing better than most of the telecom stocks. | 2008-02-15 | |
| TOP PICK | 28.340 | Norman Levine | Well protected and great payout. The dominant telco in eastern Canada. Payout of $2.90 giving you over 10%. Wire line telephone is not a growth business, so you don't own this for growth, only income. | 2008-02-11 | |
| BUY | 27.740 | Paul Gardner, CFA | (Market Call Minute.) Has been hurt with the liquidity. Still have the landlines and a very conservative capital structure. Expect it will recover in the telco space. | 2008-02-05 | |
| TOP PICK | 27.600 | Norman Levine | Mostly into wire line on the east coast and it is not a growing business but the payout is over 10% while you are waiting for the market to turn around. Stable business. | 2008-01-29 | |
| Comment | 27.000 | Michael Simpson, CFA | Primarily wire line in Atlantic Canada. Line erosion seems to be stabilizing. Made an acquisition of Bell Nordique giving them a small wireless exposure in northern Quebec and Northern Ontario. Some concern that they might sell their entire stake of their 42% holding of their parent company BCE (BCE-T). He doesn't think they will. | 2008-01-22 | |
| HOLD | 27.000 | Ben Cheng | (Market Call Minute.) Probably at little more recession resistant. Has good growth in their wireless sector. | 2008-01-21 | |
| WEAK BUY | 28.220 | Michael Sprung | Relatively safe place to be. After BCE is gone, it will be one of the last telecom utilities you can get exposure to. Distribution should be pretty safe. Somewhat constrained in where growth is going to come from in the future. Would look at it for the yield but not capital appreciation. | 2008-01-08 | |
| TOP PICK | 28.350 | Norman Levine | The dominant phone company in eastern Canada. At current prices it has a 10% payout. In a declining business and it's not likely distributions will grow much, but in a bad market, he is happy to sit with 10%. When the market starts to lift, you will probably get some lift in the stock. | 2007-12-18 | |
| HOLD | 28.800 | Kevin Hall BComm, CFA | Has corrected in line with the broader equity markets. This is a good, steady, core holding. Not a lot of excitement. Will deliver a pretty good, steady, stable yield. There might be 1%-2% annual growth in the underlying business. | 2007-12-04 | |
| BUY | 28.850 | Norman Levine | (Market Call Minute.) | 2007-12-03 | |
| BUY | 29.070 | Ross Healey | Doesn't feel the government announcement on wireless (spectrum) will have any effect on this stock. One of the few trusts that he likes. | 2007-11-30 | |
| Comment | 28.680 | David Baskin | These are the assets that Bell didn't want and couldn't grow. Pretty much a done deal that there won't be a lot of growth from the rural landlines. However it does give a pretty steady income. If interest rates are going down in Canada/US, the income stream becomes a little more attractive, which could give them a bit of an uptick. | 2007-11-29 | |
| Comment | 30.910 | Patrick Kim | Secondary market landlines rather than wireless. Slow growth. A fairly stable earnings growth story. When BCE gets de-listed there will be additional demand as people look for other telecom names to go to. For better growth prospects look at Telus (T-T). | 2007-11-02 | |
| HOLD | 30.910 | Andrew Guy, CFA | Continues to do very well. The one advantage they have over others is its regional focus. A very stable company. Looking at the valuations, he wouldn't buy it now. | 2007-11-02 | |
| TOP PICK | 31.740 | Ross Healey | Had considered Cash as the top pick. This is a defensive choice. Fairly reasonably valued. When it reverts out of a trust, there won't be any downside move on the stock. Nice yield. | 2007-10-05 | |
| BUY | 31.470 | Norman Levine | He owns this as a cash substitute. Earning 8.8%, whereas money markets are in the 4% range. Feels the distributions are pretty solid in a very stable business. A good, relatively safe income vehicle. | 2007-10-02 | |
| DON'T BUY | 32.040 | Leslie Lundquist | Primarily a landline phone operator. There is increasing competition from wireless assets. Didn't think the growth was sufficient to offset their competition. | 2007-07-25 | |
| HOLD | 31.970 | Ian Nakamoto | If the Teachers Federation takes over BCE, he would expect they would take this company over also. | 2007-07-24 | |
| TOP PICK | 31.440 | Andrew Guy, CFA | Bell Aliant Group is a fun pick. BCE owns a big part of Bell Aliant and can'tsee anything but good when the takeove is complete. Believes the evaluation over time is good.
| 2007-06-27 | |
| HOLD | 31.620 | Bruce Campbell | Wire line, slow growth at 2%-3%. BCE (BCE-T) going private should not affect it. Yield is about 8.5%. | 2007-05-09 | |
| BUY | 31.520 | Michael Sprung | Well priced and the cash flow is stable. Distribution is fairly secure. | 2007-04-27 | |
| DON'T BUY | 29.530 | John O'Connell, CFA | Still have some major pension issues. It's land lines so not a lot of growth opportunity. Very competitive business. | 2007-03-30 | |
| TOP PICK | 29.820 | Ross Healey | If it goes back to a corporation, it is fairly cheap. A defensive holding. | 2007-03-07 | |
| Comment | 29.310 | Patrick Kim | Sold their directory business to Yellow Pages (YLO.UN-T). Predominantly wire line with some wireless. Buying back stock. Prefers Telus (T-T), which has a decent yield and a much better growth potential. | 2007-02-22 | |
| Comment | 28.530 | Robert Floyd | Increased their distribution, which is positive. Just acquired Bell Nordique (BNQ.UN-T). This is more suited to an income portfolio. | 2007-02-13 | |
| Comment | 28.800 | Andrew Guy, CFA | Good company. Has some challenges in its business. Cable companies are starting to move in. Feels the distribution is safe. | 2007-02-08 | |
| DON'T BUY | 29.460 | Paul Gardner, CFA | Mostly Eastern landlines. Had very good earnings last quarter, but looking closer at the numbers, a lot of it was IT consulting and equipment sales. There was a big decay in the operating business. Cable company competition is growing. | 2007-02-05 | |
| HOLD | 29.350 | Michele Robitaille | Won't set the lights on fire, but a good, solid core holding. Some challenges achieving even modest growth. Focused on regional/rural areas, so have some insulation from competitive challenges that urban telcos are facing. Likes the name. Just increased distributions by 3%. Fully valued. | 2007-02-02 | |
| HOLD | 29.540 | Patrick Kim | Thinks it will go up in the near term. Not a huge fan of the business model relative to what else is available. Longer term, would look outside income trusts to something like Telus T-T). | 2007-01-26 | |
| HOLD | 29.080 | Robert Lauzon | Owns most of the rural phone lines in Eastern Canada. Very stable business in the short term. | 2007-01-22 | |
| HOLD | 28.760 | Robert Floyd | An interesting income trust. Acquired Bell Nordique (BNQ.UN-T). Feels it can survive in this income trust scenario for some time. | 2007-01-19 | |
| WEAK BUY | 28.340 | Peter Brieger | Would prefer Bell Canada (BCE-T) because of its liquidity. Far easier to get in and out of it. Also sees a better growth rate in the dividends | 2007-01-15 | |
| BUY | 27.960 | David Baskin | 10% yield. This will be pretty stable. | 2007-01-10 | |
| BUY | 28.100 | Norman Levine | Better yields and Bell Canada. Less competitive landscape. | 2007-01-09 | |
| TOP PICK | 27.080 | Michael Simpson, CFA | Have about 3.3 million subscribers. A slow growth business. Losing some lines in Halifax but this will be mitigated. Growth of revenues of 1%. They will merge with Bell Nordique (BNQ.UN-T). 10% yield. | 2007-01-04 | |
| BUY | 26.960 | Sandy McIntyre | Will be a valid business 5 years from now. Has been oversold. | 2006-12-29 | |
| HOLD | 26.850 | Paul Gardner, CFA | Proposing to take Bell Nordiq (BNQ.UN-T) private which could probably cut a couple of hundred million dollars out of the cost structure. | 2006-12-19 | |
| HOLD | 27.570 | Ross Healey | Getting to an interesting point. About a 10% yield. | 2006-12-04 | |
| BUY | 27.630 | Ravi Sood | 3% growth. A good name for conservative investors. There won't be much capital appreciation. | 2006-11-17 | |
| HOLD | 27.400 | Bruce Campbell | 10% yield. Assets are fine. 2%-3% growth on a trust makes sense, but as a corporation, they are not going to be able to do much. | 2006-11-15 | |
| Comment | 28.320 | Dean Orrico | Possibility of further volatility. Volatility in the early days seems to be in the big liquid names. It is fundamentally sound and will continue to pay out high levels of income. | 2006-11-10 | |
| BUY | 27.660 | Michael Simpson, CFA | Earnings were pretty good. Payout ratio is around 86-87%. Good company. Cheap | 2006-11-03 | |
| TOP PICK | 33.700 | Rob Callander | A combination of a regional phone business in Ontario and Quebec along with the Aliant business in eastern Canada. Feels that landlines in these areas are very stable. Expected to grow at a 1%-3% range. 8% yield. | 2006-10-23 | |
| BUY | 33.740 | Robert Lauzon | Will probably trade in the range of $32 to $35. Not a lot of growth. Acquiring Bell Nordique (BNQ.UN-T) and issuing some units. That puts pressure on the stock price. Once Telus (T-T) converts, it will be a better story than this one. | 2006-10-20 | |
| TOP PICK | 34.600 | Rob Callander | 7.8% yield. Good quality. Well managed. Will grow at 1%. 2%, 3% a year. Dependable, measurable capital expenditures so you will be able to count on the distributions. Also has capital gain potential. | 2006-09-12 | |
| HOLD | 34.810 | Paul Gardner, CFA | A stable business, but there is competition from the cable companies and margins are slipping slightly. Tremendous free cash flow business but there are problems on the horizon. | 2006-09-05 | |
| WEAK BUY | 35.370 | John O'Connell, CFA | Bell Canada (BCE-T) still owns a lot of this. It does pay a decent level of income but doesn't expect there will be a lot of income growth. Would prefer a higher dividend-yielding name like Verizon (VZ-N) with a 4.6% yield. | 2006-08-25 | |
| DON'T BUY | 35.370 | Bruce Campbell | Growth of only 3/4%. You are buying this really for the yield in the low 8%. Pretty fully priced. | 2006-08-25 | |
| TOP PICK | 34.900 | Norman Levine | Expected to yield 7/8%. Very little risk. Using it as a cash substitute. | 2006-08-22 | |
| BUY | 35.100 | John Zechner | Likes it. Won't be a high-growth business. Mostly wire-line. Generating lots of cash. Good yield. | 2006-07-31 | |
| WEAK BUY | 35.000 | Sandy McIntyre | About 8.5% yield. A little bit of attrition to the landlines. Would have liked it better if Bell had endowed it with the same asset base as Bell Nordique, where there is wireless and cable as well as the landlines. | 2006-07-28 | |
| WEAK BUY | 35.000 | David Baskin | Good yield, but very low growth prospects, if any at all. | 2006-07-27 | |
| BUY | 35.220 | John Zechner | A good valuation. 8.5% yield. Not growing a lot but there’s not risk in the core business. A decent size and thinks the yield will improve. | 2006-07-24 | |
| HOLD | 35.100 | Ravi Sood | A very smart restructuring and was the absolutely right thing to do. Good for shareholders short-term and long-term. Very modest capital appreciation four people who were looking for steady income. There won't be substantial growth. | 2006-07-21 | |
| TOP PICK | 34.050 | Bruce Hartman | A great conservative, stable way to participate in the telephone industry. Yields about 8%. Conservative payout ratio of about 90%. Possible increased distributions in the next year or so because of surplus cash flow. Have some interesting acquisition opportunities. | 2006-07-14 | |
| DON'T BUY | 33.580 | Leslie Lundquist | This was a spin off of rural phone lines from Bell Canada (BCE-T). Generally, rural phone lines are less competitive than city lines. Doesn't like government control and can see much growth. Will be very tough for them to compete. | 2006-07-13 | |
Experts that have talked about Bell Aliant
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