STOCKCHASE

(Top pick Sep 20/10, Up 18.20%) It was matter of deploying capital to a better place. If it gets into his target zone again he will come back to it.

2011-09-21

DON'T BUY

31.310

Barry Schwartz

Fortis (FTS-T) versus Emera (EMA-T)? Fortis has a better valuation going forward. Emera has to have 40% of its power output from renewables (?) going forward and he is not sure this is going to be positive for them.

2011-09-14

PAST TOP PICK

28.140

(A Top Pick Aug 18/10. Up 13.76%.) Had a significant breakdown at around $30 and he got out slightly lower than that.

2011-08-08

BUY

32.490

65% payout ratio. Surprised over the last couple of years. Built a good business in New England distribution and pipelines. Quite regulated in Nova Scotia. Thinks it’s a good thing because they can’t blow their brains out. Year after year they have to raise their dividend 5-10%.

2011-07-21

PAST TOP PICK

31.990

(A Top Pick July 8/10 Up 29.65%.) Was a good seasonal play. Has now formed a good long base and if it broke out there would be some good upside. If it breaks below $31, you should get out.

2011-07-06

PAST TOP PICK

32.070

Randy LeClair

4.4% Series A Preferred Share (Top Pick Jun 16/10, Up 8.69%) New issue and a solid performer.

2011-07-05

PAST TOP PICK

31.950

(A Top Pick June 4/10. Up 36.12%.) Got a little concerned when it flat lined but expect it will break out in the next month. Seasonal strength starts in the summer and goes to about November.

2011-06-02

PAST TOP PICK

31.670

(A Top Pick June 4/10. Up 33.5%.) A decent holding no matter how the QE2 matter resolves. Looking for it to go much higher.

2011-05-04

PAST TOP PICK

31.610

(Top Pick Mar 27/10, Up 35.30% total return) Juicy dividend. He likes to be in the best sectors, but sometimes you just find the right stock. Still likes it

2011-03-25

HOLD

31.540

Will not be adding it at this point. Did a great job coming out of the recession. He thinks they will look less terrific going forward.

2011-03-22

BUY

31.440

Been an excellent stock in 2010, better than most utility companies. Have had pretty good increase in earnings and were aggressive in increasing dividend. Thinks they will have more moderate increases in future.

2011-03-21

BUY

31.390

Likes it. A safe place to hide if you don’t want to take the risk of commodity stocks. Modest growth of 6-8% with dividend included.

2011-03-04

PAST TOP PICK

32.010

(Top Pick Mar 22/10, Up 37.83%) Not lost sleep for clients on this one. He got concerned in January but it is continuing in its basing pattern. Still loves it. It is getting set up for another move [up] he moved his stops up a bit more.

2011-02-08

PAST TOP PICK

31.450

(A Top Pick June 4/10. Up 30.55%.) Still likes, but getting a little worried that it has broken down through the trend line. Has a Stop on it of around $31 for Partial Sell. Fantastic support around $28-$29.

2011-01-05

HOLD

31.820

Good company and a solid dividend payer and raises its dividend regularly. Limited growth potential, which is probably OK when buying a utility for the yield. Fully priced, maybe even over priced.

2010-12-22

PAST TOP PICK

31.130

(A Top Pick March 22/10. Up 32%.) Pretty good low risk investment with good dividend. Thinking of reducing his holdings a little but he still likes.

2010-11-19

HOLD

30.220

Jeff Parent B. Eng. FCSI

Is a large company, paying dividend of 4%+. Chart looks great. Looks like it could run out of steam. Sell if it drops below $27. Use 50-day moving average as an on going stop loss.

2010-10-08

TOP PICK

27.900

Regulated by government and believes ROE’s allowed are about to be raised from 9% to about 10.5%. Loves the dividend. Utilities have done very well.

2010-09-20

BUY

27.430

Has done very well. Well managed. Earning growth of 6%-7%. Converting their transmission type business in Nova Scotia from coal to alternative fuels.

2010-09-09

BUY

25.820

Bill Carrigan

Chart shows a good upward move from Sept/09 to early Jan/10 followed by a sideways move to the beginning of July. It then moved up again. Climbing higher. A beneficiary of risk aversion.

2010-08-19

TOP PICK

26.150

Expecting the government to a lower the ROE to rise from 9% to 10.5%. Great dividend.

2010-08-18

BUY

26.720

Hank Cunningham

4.83% bond maturing in 2019. Too long for a corporate bond? This company has a good monopoly on power generation/distribution in Nova Scotia.

2010-07-21

TOP PICK

25.730

Utility. At this point in the economy, he likes to be in something that is regulated. Expect that sometime in the fall, regulators will allow their ROE to rise from a 9% to 10.5%.

2010-07-08

TOP PICK

25.120

Randy LeClair

Preferred 4.40% Series A. Newly out and he doesn't own yet. Reset is quite narrow at about 145 basis points compared to some of the older resets. Trading at about $24.65 and is callable at $25. Could go a bit lower because the yield is only 4.75%. Decent yield for a decent utility non-financial credit.

2010-06-16

TOP PICK

24.630

Steady utility. 8% revenue upside, good trend up. Good place to get a dividend without loosing capital. Things Gov’t will start to allow them to charge customer more in the fall.

2010-06-04

BUY

24.520

Likes it. Good dividend, which has grown over the last couple of years. Not spectacular but it’s a good company.

2010-04-20

PAST TOP PICK

24.420

(A Top Pick Apr 12/09. Up 24.6%.) Solid and stable.

2010-04-16

Comment

24.390

In view of probable higher interest rates later this year, this will do okay but will under perform. Yield is decent.

2010-04-15

BUY

24.510

Buy primarily for yield, not growth. He holds as dividends tends to go up.

2010-04-08

TOP PICK

24.400

Chart has a very nice uptrend. 8% increase in revenue last year. 22% income growth. Good dividend yield. Looking for a 10.5% ROE, up from 9%.

2010-03-22

BUY

24.500

Jeff Parent B. Eng. FCSI

Just made a $75 million acquisition in Maine. A lot of people buy this for the dividend yield of around 4.5%-5% but is now starting to look like a growth story. Above the long-term support level, which is good. Buy and hold for the dividends.

2010-03-12

Comment

24.080

Mark Carpani

4.83% due 2019 trading around par. Pretty stable cash flow and is rated BBB high so good from a credit perspective. 90% of revenue from Nova Scotia Power/Bangor Hydroelectric, which is pretty safe cash flow.

2010-03-11

PAST TOP PICK

23.790

(Top Pick Mar 6/09, Up 26.5%) Does still like them. Long term they are a little more risky. Linked to Nova Scotia so not the fastest growing region in the country. Still worth holding.

2010-03-05

BUY

23.750

David Burrows

You are not looking for big returns with this one but for consistency. Utilities have under-performed. You wont get hurt.

2010-02-19

BUY

23.260

Too boring to be a takeover candidate but that makes it attractive for him. 4.7% dividend. Relatively attractive price earnings ratio. (See Top Picks.)

2010-02-08

TOP PICK

23.650

Randy LeClair

4.83% bond maturing in December 2/19. Investment grade.

2009-11-27

HOLD

21.960

Hydro-Quebec’s takeover of New Brunswick Power shouldn't have any effect on this stock. Prefers Fortis (FTS-T) with a higher growth rate of possibly 10% and yield of 4.11% for a total return of about 14%.

2009-11-02

BUY on WEAKNESS

21.230

If looking for a growth and income model, this would definitely be a candidate. Look for a little lower price. 5.1% yield.

2009-10-01

BUY

21.310

Prakash Hariharan

Utilities have not moved up in comparison to bank stocks. He prefers the utilities now. Likes it.

2009-09-29

TOP PICK

19.600

East Coast electric utility. Very defensive. Yield of about 5%. This will pay you to wait.

2009-04-14

TOP PICK

18.990

Very defensive. Utility and 3% of its contracted cash flow. Limited but solid growth. Dividend.

2009-03-06

BUY

22.360

Very good performer. Largely the holding company of Nova Scotia Power. Also has some pipeline and utilities in Maine. Generous yield and raises its dividend every year or two. With BCE (BCE-T) being taken out, there will be a lot of money that will be looking for a home in the utilities. (Also see Top Picks.)

2008-09-05

Comment

22.490

The macro overview for not buying the stock would be because of rising expectation of inflation, leading to rising interest rates that would not be good for interest sensitive stocks. However, there is now an expectation of disinflation and this stock would do very well. Would think total return would be around 9% or 10%.

2008-09-04

BUY

22.410

Money will be flowing out of BCE (BCE-T) and Transalta (TA-T) looking for a home in the regulated area. This is a natural. Under priced.

2008-07-21

BUY on WEAKNESS

23.300

Ron Meisels

Has a beautiful W formation, which is very important. Stock may be a little ahead of itself and wouldn't hurt if it came back to around $22 or $22.50.

2008-06-19

BUY

23.270

Investing in Openhydro Group for Bay of Fundy tidal power. Tidal power is one of the great unrealized technology dreams. No one has done it successfully yet. Utilities have been in favour the last few years as inflation has been low and dividends have been very attractive. Doesn't have to succeed in tidal power to be an attractive holding.

2008-06-10

WEAK BUY

20.690

The growth prospects for the company are higher than they used to be. The regular utilities business is regulated and low growth. Nice yield and dividend grows once in a while. Not exciting. An income play.

2008-03-27

TOP PICK

21.660

Great dividend yield of 4.4% and defensive. Cheap on a price to book and earnings per share. Great relationship with the regulator and they are a utility.

2008-02-08

TOP PICK

20.840

(All 3 Top Picks are defensive, have good dividends, solid earnings and limited downside.) Utility. Biggest holding is Nova Scotia Power. 4.4% yield. Raises the dividend every year or two. If interest rates start coming down, it makes this stock very attractive.

2007-11-20

TOP PICK

20.850

Bill Carrigan

Thanks this one will work higher. Hit a higher low in October. Sort of a flight to safety. 4.4% yield. Doesn't see much downside.

2007-11-13

BUY

20.180

Compared to the Canadian utility space, it hasn't really performed. Feels that you will see it do well in the future. A better name with growth might be Fortis (FTS-T).

2007-09-26

PAST TOP PICK

19.480

(A Top Pick Sept 5/06.Down 2.2%.) Mainly a holding company for Nova Scotia Power. Good sustainable earnings. His theme was yield and this gave 4.7%. Still a Buy.

2007-08-29

WEAK BUY

19.700

Jeff Parent B. Eng. FCSI

Trading just below its support level. Because it is at support, he feels it will have a slight rally, probably up to about $21. The return on the stock might be only 3%-4% because of the small range in pricing. There is some good volume on the drops indicating value buyers are coming in. MACD indicates negative momentum has dropped a bit.

2007-08-15

DON'T BUY

21.570

Brian Acker, CA

His model price of $21.80 is very close to the current price of $21.57.

2007-05-24

HOLD

21.510

Its biggest holding is Nova Scotia Power, a regulated utility. Feels there is a big move towards utilities and infrastructure. Doesn't feel interest rates will go higher, which is a huge benefit to utilities. There is some organic growth through rate increases and the natural growth of service territory etc.

2007-04-30

BUY

19.750

Gavin Graham

4.5% dividend. A very low growth dividend. Management hasn't been the most forward looking, but a very solid company. Has dropped recently but when interest rates go down, which he expects this will have a recovery.

2007-03-06

HOLD

20.310

The holding company for Nova Scotia Power. Was a huge performer for most of last year. Probably got ahead of itself. Has a great yield.

2007-02-27

HOLD

21.240

A small electric utility in Nova Scotia. An interest-rate story at this point. Fairly defensive. Not a growth name.

2007-02-21

BUY

22.390

Electric utility company in Nova Scotia. Got a little ahead of itself and has come off. If you are a long-term investor looking for yield, this is a great one to own.

2007-01-09

BUY

22.680

Gavin Graham

Likes dividend paying stocks. Very solid position.

2006-12-28

BUY

22.320

Gordon Higgins, CA, MBA

A great stable company with a very solid dividend. Not one for an RRSP as you would lose the dividend tax credit. Yield of about 4%.

2006-11-28

BUY

22.290

Rob Callander

Disposed to buying good, solid, dividend-paying stocks, so wouldn't have a problem with this company. 4% yield. Hold for the long-term.

2006-11-23

HOLD

22.150

Pretty stable. Feels that things may slow down economically in North America. Big worry are the housing problems in the US. Utilities and pipelines should do well in the future.

2006-11-16

TOP PICK

20.040

Flat to slow growth defensive stock. Main asset is Nova Scotia Power as well as some assets in Maine. Interest sensitive and is interest rates come down it should benefit. 4.4% yield.

2006-09-05

WEAK BUY

18.610

Bruce Campbell

A holding company for Nova Scotia Power. Interest-rate sensitive. If you have a long-term view, you will get a little growth and a decent dividend.

2006-05-23

WEAK BUY

19.200

A decent company but it's a utility and is regulated with limited growth and facing increasing interest rates.

2006-04-05

HOLD

19.270

A very good name. Has done things well. The only negative on it is that it's in a small part of the world and is a regulated utility. With the rise in interest rates, wouldn't load up.

2005-11-07

HOLD

19.650

The holding company for Nova Scotia Power as well as some other electric utilities including some in Maine. The yield is above what you would own on bonds and you get a favourable tax treatment compared to bonds. Also has a little bit of growth to it.

2005-10-25

WEAK BUY

18.870

A reasonable utility to buy. A little less enthusiastic on utilies with their growth side. The biggest risk with regulated utilities is how do they interface with public utilities commission. Have had a few negative rate cases before that has not allowed them to pass all their fuel increases along but feels they may now have them seeing it their way.

2005-06-21

BUY

18.350

Utility stocks are ideal for DRIPS because they do pay a nice dividend regularly and normally you get to buy the stock at a bit of a discount. All utility stocks are going to ultimately depend on the direction of interest rates and now is a good time to own them.

2005-06-09

BUY

18.150

If you think interest rates are going to go up, then the dividends on utilities are less attractive. Feels that short term rates may go up a little, but long and medium are probably going to stay pretty much where they are. A pretty safe place to sit and get your dividend. Don't expect much in capital appreciation.

2005-05-10

HOLD

17.900

Not a great time to be buying this one. Nothing fundamentally wrong with it. It has just gone through a rate review(?). Doesn't see any catalyst for growth for this company. It's a utility, so tends to have higher debt than others.

2005-04-19

BUY

18.550

Utility stocks seems to be the safest area to preserve capital and still make a decent profit. May be a counter balance to the strong resource stocks.

2004-11-29

BUY

18.200

4.8% yield. Not a growth company. Every couple of years they raise the dividend. Likes its long term outlook.

2004-10-27

BUY

18.470

Growth of its dividends. High yield asset category.

2004-09-02

BUY

17.970

Likes its long-term growth prospects. Dividend should creep up.

2004-08-18

DON'T BUY

17.180

Blair Wilson

A wonderful company. Very slow and steady growth. In an environment of higher interest rates, the stock price will suffer.

2004-07-22

WEAK BUY

16.880

A regulated utility. Doesn't see a lot of growth. Good dividend.

2004-07-19

BUY

17.500