| DON'T BUY | 9.960 | Michael Simpson, CFA | Primarily water heater rentals in Ontario. With slower housing starts, there has been a bit of weakness. Diversifying into the smart meter business or it Have a lot of debt. Will take a few years to see if the new initiative works. Facing competition from new players and new technology. | 2008-08-13 | |
| HOLD | 12.900 | Sandy McIntyre | (Market Call Minute.) Stable income story but not much growth. | 2008-05-05 | |
| Comment | 13.950 | Sandy McIntyre | Rental of water heaters in Ontario. Has provided a very stable income stream. He doesn't see the growth profile that he likes relative to the business risk. 9.2% yield. | 2008-02-26 | |
| DON'T BUY | 14.960 | Ben Cheng | Fairly well run trust. Business is sound, but also dependent on new home construction. US housing sales could potentially spread into Ontario, which is a concern. | 2007-09-05 | |
| DON'T BUY | 17.150 | Chris Rankin, MBA, CFA | Doesn't think there is a chance this will ever be purchased by private equity because it is not an operating business, just a securitization vehicle. | 2007-07-13 | |
| BUY | 17.150 | Kevin Hall BComm, CFA | Their competition in Ontario was UE Water Heater, which was recently taken over. Water heater market is very lucrative. Generates a lot of free cash flow. Good pricing power. Starting to branch out into other areas. Could be a takeover target. | 2007-07-11 | |
| BUY | 16.640 | Sandy McIntyre | Not a bad business. | 2007-07-03 | |
| BUY | 16.370 | Andrew Guy, CFA | A nice, steady, slow-growing business. Will continue to increase its distribution over time. Not a likely takeout candidate. | 2007-06-27 | |
| BUY | 16.960 | Michael Sprung | A sort of a steady Eddy. Has grown a lot by acquisition recently. Payout is 86% of distributable cash, but that is not a bad ratio for recurring cash flows. | 2007-04-27 | |
| Comment | 16.880 | Chyanne Fickes | Had a big jump in sympathy with the takeout of UE Waterheater Fund (UWH.UN-T). | 2007-04-17 | |
| BUY | 14.200 | Neil Wickham | Something like a utility play, because the cash flow is pretty stable. Could convert back to a corporation quite easily. Also could possibly be a takeover target. | 2007-03-20 | |
| HOLD | 13.650 | Ravi Sood | Great stable assets. Prefers UE Waterheater (UWH.UN-T) at this time. | 2006-11-17 | |
| BUY | 12.650 | Peter Gibson | On his good list for income trusts. Very strong underlying operating characteristics. Undervalued. Profit growth is strong. A good long-term investment. | 2006-11-03 | |
| BUY | 15.760 | Chris Rankin, MBA, CFA | Trading up at the present time. It is a very safe trust. The growth is low. It is a great place to put money because of the volatility of the market . | 2006-09-25 | |
| BUY | 13.500 | Robert Lauzon | A fairly stable trust. Moves a little bit with the housing cycle but is correlated with interest rates. Has pulled back a little and in the low $13’s it looks attractive. | 2006-05-18 | |
| HOLD | 15.750 | Robert Lauzon | It’s main business is collecting rent on water heaters. There may be a price increase when it gets included in the index and you may want to consider trimming at that point and then buy back later. | 2005-12-08 | |
| DON'T BUY | 16.250 | Sandy McIntyre | Has been a very stable cash flow vehicle. Doesn't own a lot of it. Owns Select 50 (SON.UN-T) which has an SR1 rating where Consumers has an SR2. Can't understand why people in Ontario rent water heaters when you can buy one for a year and a half rentals. | 2005-08-12 | |
| BUY | 14.870 | Blair Wilson | For a conservative trust and will be more interest sensitive. On their Recommended list. Valuation is somewhat high. | 2004-11-26 | |
| WEAK BUY | 12.360 | Leslie Lundquist | Has done everything it said it would do. Probably fully valued now. | 2003-09-05 | |
| DON'T BUY | 12.620 | Sandy McIntyre | A large amount of debt.Showing their water heaters at twice the value in their assets.Finds it hard to value this trust. | 2003-08-25 | |
| BUY | 12.400 | Garth Jestley | A very stable trust. | 2003-07-30 | |
| BUY | 11.890 | Dean Orrico | Stable cash flow stream. | 2003-06-25 | |
| BUY | 11.650 | Sandy McIntyre | Good business model. Will see how it works out 7/8 years from now. In the meantime, its OK. | 2003-06-19 | |
| STRONG BUY | 10.900 | John Priestman | Very stable. Strong credit. | 2003-04-02 | |
Experts that have talked about Consumers Waterheater Fund
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