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| BUY | 24.590 | Michael Smedley | Solid with good dividends of 4.25%. Quite aggressive as one of the few utilities we have. | 2008-12-31 | |
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| BUY | 27.280 | David Burrows | The right kind of name for this kind of market. Has attributes he is looking for. Predictability, solid yield of 3.6%, covers the dividend well, growth going forward and generates cash. | 2008-12-01 | |
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| BUY | 24.000 | Gavin Graham | (Market Call Minute.) You have B.C., Newfoundland and the Caribbean. Very well run. Has growth. | 2008-09-17 | |
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| BUY | 25.880 | David Baskin | Not exciting, but nice and steady. If you are looking for a blue chip with a high dividend and a history of raising dividends, this is not a bad one. Trading at a slightly suppressed price. 4% yield. | 2008-09-02 | |
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| Comment | 25.050 | Robert Floyd | At this price, it represents decent value. More of a defensive play and as defensive plays become more in vogue, it will move back up. Well managed. | 2008-08-21 | |
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| BUY | 25.400 | Norman Levine | 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 | |
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| BUY | 25.460 | Michael Smedley | Has broken down to last year’s number. Bit of a problem in Belize but that shouldn’t be too disturbing. Good yield. Good long term asset. | 2008-07-08 | |
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| BUY | 27.500 | Norman Levine | Long term it trades like the banks, but outperforms them. A growth utility. Dividend yield is somewhat less than most utility stocks because it uses its money to grow. Geographically diversified. Long-term growth profile is great. | 2008-06-13 | |
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| BUY | 27.570 | David Baskin | This is a way of producing income without too much volatility. | 2008-05-27 | |
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| PAST TOP PICK | 27.340 | Gavin Graham | (A Top Pick Nov 19/07. Up 4%.) East coast utility that has become a national utility by buying the B.C. pipeline. Has been very stable. 3.5% yield. A Hold. | 2008-05-20 | |
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| SELL | 27.960 | Peter Brieger | Nice yield at 3.6% but trades at a very high multiple in excess of the TSE price/earnings ratio. | 2008-05-01 | |
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| PAST TOP PICK | 29.100 | Michael Smedley | (A Top Pick Mar 23/07. Up 7%.) There has been a pickup in the last few weeks because of a rush to quality and a rush to reliable dividends in the utilities. Has a fine history. Fairly aggressive expansion. | 2008-04-01 | |
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| PAST TOP PICK | 27.950 | Michael Smedley | (A Top Pick March 23/07. Up 4% including dividends.) A good sensible blue chip. | 2008-02-21 | |
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| BUY | 29.040 | John Stephenson | (Market Call Minute.) Utility regulated and defensive. Runs on a shoestring. | 2008-02-08 | |
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| BUY | 28.090 | David Burrows | If you are going to own equities through a difficult economy and market, yield is something you should look at. There are a bunch of companies in the Canadian market that have hung on pretty well. Look at TransCanada (TRP-T), Transalta (TA-T), Fortis (FTS-T) or an Enbridge (ENB). | 2008-01-28 | |
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| BUY on WEAKNESS | 29.150 | Don Vialoux | Have had a good growth profile for quite awhile. Stock is in a channel on an upward trend. Short-term momentum indicators are saying the stock is a little bit ahead of itself so you might see it back off a little. Try to buy at its support level of around $27.91. | 2008-01-16 | |
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| DON'T BUY | 28.880 | Peter Brieger | Hasn't liked utilities for some time. Given the weakness in interest rates, the stocks have done very well, but he has difficulty in paying 18X or 19X earnings for a yield. | 2007-12-28 | |
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| TOP PICK | 28.950 | David Cockfield | One of the best utility managements in Canada. Has the feeling that they are just about set to roll again. Yield of 3.5% is not bad. | 2007-12-21 | |
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| BUY | 28.110 | John O'Connell, CFA | Nice defensive name with a decent dividend yield. Trades at reasonable earnings. Can be somewhat illiquid. Well diversified. | 2007-12-10 | |
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| TOP PICK | 27.300 | Gavin Graham | 3.1% yield. A very seasonal business. An excellent long term play on western Canadian resource strength. Great management. | 2007-11-19 | |
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| BUY | 27.220 | John Stephenson | This is a great time to be looking at utilities in general. They don't have a lot of growth, but are sensitive to interest rate movements. US is starting to lower interest rates. | 2007-11-12 | |
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| BUY | 28.240 | Gavin Graham | He owns it and has been adding to it. Hold if you own. The company has been adding more assets in the west and he believes there will be more growth. 3.1% yield. This is a buying opportunity. | 2007-10-29 | |
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| DON'T BUY | 27.000 | Chyanne Fickes | Has always thought that for a utility company it is quite expensive at 20X earnings. Doesn't really grow at 20%, so she doesn't see the point of owning it. | 2007-10-01 | |
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| PAST TOP PICK | 25.500 | Norman Levine | (A Top Pick Sept 5/06. Up 1.5%.) Canada's growth utility stock. The theme was yield and this paid 3.3%. Made a good acquisition, which will lead to accretive earnings. Good growth potential. | 2007-08-29 | |
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| HOLD | 27.070 | Peter Brieger | A long-term hold. Was bid up to a very high level at the beginning of the year but is now coming down to a more reasonable price. | 2007-07-19 | |
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| BUY | 26.360 | David Driscoll | Interest-rate sensitive, so the stock has been dropping. Good stock for long-term investors. Dividend increase has been very strong. | 2007-06-22 | |
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| BUY | 27.420 | John Stephenson | Highly recommend it. One of the best names in the Canadian landscapes, and he thinks it's a buy. | 2007-06-06 | |
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| DON'T BUY | 28.000 | Peter Brieger | It's a great company, but doesn't feel you should pay the current price ratios for it. | 2007-06-04 | |
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| BUY | 28.320 | Norman Levine | Canada's growth utility. Has grown across the country, into the Caribbean and also into the US. Had to issue a lot of stock to pay for their acquisitions and it takes the market time to churn through it. Should have good upside from here. | 2007-05-30 | |
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| DON'T BUY | 28.030 | Brian Acker, CA | The model price has moved up quite a bit, but is still only $26.38, a negative 6%. | 2007-05-24 | |
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| PAST TOP PICK | 28.200 | Norman Levine | (A Top Pick May 30/06. Up 16.2%.) Has a nice yield, less than other utilities, but this is Canada's growth utility. | 2007-05-18 | |
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| BUY | 27.800 | Patrick Kim | Acquiring Terasen (TER-T). A very high-quality utility stock. A fantastic company when it comes to growing. Likes the utility space in general. | 2007-05-14 | |
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| BUY | 28.310 | David Burrows | Utility space is wonderful as institutions are looking for long-duration assets or things that will pay them over 10-20 years. Pays a nice yield. | 2007-04-24 | |
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| BUY | 28.200 | John Stephenson | Utilities are an area that you want to consider if you feel that interest rates are stable or declining. First-rate management team. | 2007-03-27 | |
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| TOP PICK | 28.290 | Michael Smedley | Maritime utility company that expanded into British Columbia through an acquisition of a natural gas distributor. Good management. | 2007-03-23 | |
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| BUY | 27.100 | David Baskin | Keep making acquisitions. Has grown tremendously over the last 5 years. Because interest rates are so low, all of the utilities in Canada are desirable. | 2007-03-14 | |
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| BUY | 26.800 | Gavin Graham | Acquiring a natural gas distribution business in British Columbia. 3.2% dividend. | 2007-03-06 | |
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| WAIT | 26.300 | Peter Brieger | The P/E ratio on all utilities is far too high and the yields are far too low. Purchasing a B.C. gas utility. Over the long term, this will be favourable, but wants to watch to see how the integration goes. | 2007-03-02 | |
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| BUY | 26.100 | Norman Levine | This is Canada's growth utility company. Acquiring a natural gas distribution business, which is a great acquisition. They will be doing a major stock issue, which has decreased the stock price. Good opportunity to buy. | 2007-02-27 | |
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| DON'T BUY | 27.350 | Patrick Kim | Power generation. A fairly stable, boring business. Increases dividends regularly. Trading at about 20 X forward earnings, which is quite high. Had a good last quarter and surpassed estimates. There are others that provide more exciting growth potential. | 2007-02-22 | |
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| PAST TOP PICK | 27.690 | Norman Levine | (A Top Pick Oct 31/06. Up 5.7%.) Just reported very good earnings. Recently did a share issue that depressed the stock, but it is now coming back. Canada's growth utility. | 2007-02-12 | |
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| DON'T BUY | 27.380 | Chyanne Fickes | Good history for dividend growth. Unfortunately, it is too rich at 19 X earnings. They have moved into areas that have operating risks and are not associated with their pure utilities. | 2007-02-06 | |
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| PAST TOP PICK | 27.340 | Norman Levine | (A Top Pick Oct 31/06. Up 6%.) A growth utility both in and outside of Canada. Still likes. | 2007-01-09 | |
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| BUY | 29.300 | Norman Levine | A utility, but unlike other Canadian utilities it is a growth utility. Have expanded to the west and into the Caribbean and are looking to the Pacific region. Long-term performance is equal to or better than the banks. Had a good run, but would buy for the long run. | 2006-12-20 | |
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| BUY | 28.800 | Norman Levine | Canada’s growth utility. Dividend yield and payout ratio are much lower than other utility stocks. Raises the dividend regularly every year, sometimes twice a year. Grow by acquiring undervalued utilities. Good management, balance sheet and growth. | 2006-12-05 | |
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| TOP PICK | 25.650 | Norman Levine | A utility, but a growth utility. Has a lower than average dividend and yield but has earnings that grow much faster than other utility companies. Great management. Geographically diversified in Eastern and Western Canada as well as Central America and the Caribbean. Stock has done better than the banks. | 2006-10-31 | |
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| TOP PICK | 24.840 | John Stephenson | Relatively low payout ratio. Top-flight management. | 2006-10-12 | |
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| BUY on WEAKNESS | 24.420 | Bruce Campbell | Have increased their dividend. Has gotten to a size where you're looking at 8/10% growth plus 4% in dividends. With low volatility, this is not a bad thing. Entry point is a little high now. Would prefer $21/22. | 2006-10-05 | |
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| TOP PICK | 25.290 | Norman Levine | A growth defensive stock. A utility based in Newfoundland with operations across Canada and into the Caribbean and Central America. Dividend yield is low at 2.5% but it grows quite regularly because the company is growing. | 2006-09-05 | |
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| DON'T BUY | 25.120 | Brian Acker, CA | A model price of $22.58, a negative 8% differential. | 2006-08-31 | |
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| PAST TOP PICK | 23.480 | Norman Levine | (A Top Pick May 30/06. Up 2.6%.) A growth utility, both in Canada, Caribbean and Central America. Has the best management of utility stocks and the best growth prospects. | 2006-08-22 | |
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| BUY | 22.600 | David Baskin | Utilities are going to be a very good place to be parked. Doesn't think there is going to be much interest rate risk any more. | 2006-07-27 | |
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| TOP PICK | 24.300 | Norman Levine | A growth utility. Has expanded from Newfoundland two other provinces and countries. Great management. Dividend goes up regularly. | 2006-05-30 | |
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| HOLD | 21.490 | Bill Carrigan | There has been a correction in the entire space, mainly because of interest rates. Thinks they may have been oversold. Long-term trend line shows a long uptrend. Don't let it go below the long-term trend line. | 2006-05-02 | |
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| BUY | 21.150 | David Baskin | Excellent company. Operations are strong and integration of the assets they acquired in western Canada have gone along smoother than expected. Stock dropped because the dividend yield is less attractive as interest rates rose. In the low $20's, it's a favorable risk, but don't look for a move to $30 any time soon. | 2006-04-18 | |
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| BUY | 22.300 | Norman Levine | A Newfoundland based utility company. Sometimes outperforms the banks. Nice dividend. | 2006-04-04 | |
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| DON'T BUY | 22.340 | Brian Acker, CA | He has a model price of $19. A lot of the dividend paying stocks are well above his model prices. | 2006-03-29 | |
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| HOLD | 22.090 | John Stephenson | Decent company, but wouldn't be a buyer. This is a “no growth” area of the market. | 2006-03-22 | |
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| BUY | 22.320 | Norman Levine | The long-term outlook is great. Good yield. | 2006-03-21 | |
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| WEAK BUY | 22.550 | Bruce Campbell | Maritines utilitie. Long term it's done very well. Now the outlook is dividend plus 5 to 7 %.
Thinks for growth you would be better in the piplines, altough this is a good safe place to be. | 2006-03-06 | |
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| HOLD | 23.290 | John Stephenson | If you own hold it but don’t buy it if you don’t have it. Limited growth. Only as a defense in your portfolio. | 2006-02-03 | |
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| SELL | 22.940 | Peter Brieger | Have noticed that the shares have started to weaken. This may be because interest rates are creeping up and there is probably some further deterioration if higher rates come to pass. | 2006-01-30 | |
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| BUY | 23.550 | Bill MacLachlan | The outlook is reasonably positive. This is a conglomerate of utilities, so don't look for significant growth, particularly in the Maritimes where it primarily is. Look for it to provide good dividends. | 2006-01-10 | |
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| BUY | 23.860 | Michael Sprung | Has done pretty well this year. On a P/E basis its trading around 20 X's which is modestly as little higher than its peers. As long as the energy sector continues to do well here, it should continue to do pretty well. | 2006-01-06 | |
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| BUY | 24.010 | Norman Levine | An anomaly in that it is at growth utility company. Expects it to do more in the acquisition trail. Has an attractive yield. Historically, it has performed alongside the banks. | 2005-12-28 | |
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| DON'T BUY | 23.810 | David Baskin | A little pricey right now. They made a good acquisition in Alberta and that is reflected in the stock price. They are vulnerable to a hike in interest rates. | 2005-12-19 | |
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| HOLD | 24.900 | Ron Meisels | Still above its 200 day moving average. | 2005-12-01 | |
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| DON'T BUY | 96.550 | Peter Brieger | Sold his position after holding it for about 6 years. The P/E ratio, based on next year's earnings, is well in excess of the TSX's. The yield, compared to a 5 year Canada, doesn't measure up. | 2005-10-04 | |
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| DON'T BUY | 90.890 | James Cole, BA, CFA | Utilities, pipelines, etc. have done fabulously well and benefited from growth in the Price/Earnings ratio which has grown from a typical 12 to 18. Very little room for expansion in the P/E ratio. You'll have single digit growth and a reasonable dividend yield. Would consider paring back and moving into better areas. | 2005-09-22 | |
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| BUY | 90.890 | David Burrows | All of the companies in the utility oriented space are doing tremendously well. People are looking for companies that pay them some yield. The combination of energy and yield makes this stock very attractive. | 2005-09-22 | |
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| DON'T BUY | 92.370 | Brian Acker, CA | His model price is $55.66 which is a negative 40% differential. Way too overvalued. | 2005-09-21 | |
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| DON'T BUY | 88.550 | David Baskin | Thinks it's really expensive and sold all their holdings last week. Dividend used to be very attractive, but because the stock has done so well, the yield has gone down. There was a lot of skepticism about its acquisition in western Canada, but has proven to be a good one. Upside pressure on interest rates could weaken the stock. | 2005-09-08 | |
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| BUY | 82.390 | Ron Meisels | A dividend paying stock. An excellent stock. Has been very much in an uptrend. Has hit a new all time high which is a positive. | 2005-07-29 | |
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| BUY | 80.020 | Bruce Campbell | Have done really well in broadening out. Showing some growth. Has a decent dividend. | 2005-07-14 | |
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| BUY | 80.400 | Norman Levine | Operations are widely diversified across Canada and in the Caribbean. Deploys its excess cash very well. Grows its dividend. Buys well. | 2005-07-12 | |
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| HOLD | 79.500 | David Baskin | Getting a little bit expensive and wouldn't buy it for new clients right now. Made a good acquistion in western Canada. Diversified across industries. As long as interest rates stay low, it's an attractive holding, but don't count on big capital gains from here.
| 2005-06-23 | |
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| BUY | 73.550 | Norman Levine | A utility holding company and is a growth company in the utilities sector. Because they have holdings in large diverse geographical area, it's a great utility to be in. Decent yield. | 2005-02-23 | |
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| BUY on WEAKNESS | 75.500 | David Baskin | Very diversified company now. Reported earnings and they look pretty good. Wouldn't be an agressive buyer above $75. Mid $60's it's a real good play. | 2005-02-08 | |
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| BUY | 68.800 | David Baskin | Q: Coming into an inheritance. What is a buy for a long term hold that pays dividends? A: Good long term hold. 2/3 of gains over time are made from dividends. | 2005-01-17 | |
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| BUY | 67.250 | Norman Levine | 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 | |
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| HOLD | 64.250 | Michael Smedley | Doesn't feel that an increase in interest rates will create any problems. | 2004-10-29 | |
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| BUY on WEAKNESS | 59.000 | David Cockfield | One of the better managements in electrical utility business. Yield is quite nice but if interest rates go up. It could be affected. Would prefer it $4/5 lower. | 2004-06-04 | |
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| BUY | 62.500 | Peter Brieger | Holding it for long term income. One of the cheapest Canadian utilities. | 2004-05-04 | |
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| DON'T BUY | 61.900 | John Sinkins, CFA | Utilities tend to move up very sharply when interest rates are low and yield is high. Hard to see much further upside. | 2004-03-09 | |
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| BUY | 59.750 | Fred Pynn | A real success story. A regulated utility, so nothing fancy. Where they see significant upside potential is to get their costs in Alberta and B.C. down to $250 a year per customer, as they have in Newfoundland. | 2003-11-27 | |
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| TOP PICK | 56.900 | David Cockfield | Pays 3.66%. Very good management. Have been aggressive in expanding the asset base. Good job of acquiring assets. A good conservative holding. | 2003-10-23 | |
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| DON'T BUY | 55.400 | Michael Sprung | Had a pullback because of the acquisition of some generating properties. At the same time, they announced an issue to pay for it. This would mean 23 million shares outstanding. Too much dilution. Fully valued. | 2003-09-25 | |
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| BUY | 54.600 | Peter Brieger | Good price. P/E of 11 or 12. Expanding with some acquisitions. | 2003-09-17 | |
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| HOLD | 58.250 | Bill Shaw | As long as interest rates stay low, it should perform well. Expensive. | 2003-07-09 | |
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| PAST TOP PICK | 56.000 | David Driscoll | (Was a top pick on July 30/02. Up 9%.) Still likes. Yield is about 5%. | 2003-06-17 | |
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| BUY | 51.500 | David Baskin | A little pricey. Well managed. | 2002-12-17 | |
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| DON'T BUY | 50.650 | Ross Healy | Good regular dividends. Prefers other sectors than utilities. | 2002-10-23 | |
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| PAST TOP PICK | 49.650 | Arthur Heinmaa | (Was a top pick on Feb 8. Down 66%.) Still likes. Good dividend at 6%. | 2002-10-04 | |
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| TOP PICK | 44.890 | David Driscoll | Good time to average down. 8 X earnings. Yield 5.8%. | 2002-07-30 | |
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| DON'T BUY | 47.950 | John Zechner | Money moved in for the dividends. If interest rates go up, investors will start to leave. | 2002-06-06 | |
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| DON'T BUY | 49.250 | David Baskin | Has had a good run. High dividend. If interest rates go up, it will be under pressure. | 2002-04-12 | |
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| BUY | 48.880 | Peter Brieger | Great long term hold. Deregulation won't be a problem. | 2002-03-27 | |
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| WEAK BUY | 46.900 | Richard Stone | Well positioned. As a utility, it will be a slowgrower. Secure dividend. | 2002-02-18 | |
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| TOP PICK | 42.950 | David Baskin | Has a good yield of 4.5%. Good assets. Steady management. | 2001-10-24 | |
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| BUY | 35.350 | Brian Acker, CA | Good dividend yield. A drop in interest rates could give it a boost | 2001-01-30 | |
Experts that have talked about Fortis Inc.
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