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Compiling comments that experts make about stocks while on public TV.

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Greg Newman , Dir. & Assoc. Portfolio Management

Scotia Wealth Management


Date Signal Chart Symbol Company Opinion Price
2016-01-21 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets. We are probably still in a bull market, and this is a pullback in a bull market. The extent to which this goes down is unclear, and it will probably have to go a bit lower. His big question is, “is this a start of a bear”. When you see the kind of price action that we have seen since January 1st, that is not reflective of a normal correction unless there is something technical going on. Also, it might be a combination of being technical and fundamentalists really trying to figure out whether or not the data is indeed pointing south. You have China growing anywhere between 4% and 7%. Not too bad if you’ve got Europe and the US growing at 2.25% this year. His focus is to be in stuff that pays to wait as to where the ball is ultimately going. This is a year of transition. Energy is done for a while. Resources are done for a long while. The area of growth is going to be US housing, US consumer, Europe ultimately improving and areas that are levered to that in Canada. He screens by looking for companies that are cheap relative to their peers and for companies that have sustainable and growing dividends. Also, for companies that can grow their earnings per share over the next couple of years.


Price:
$0.020
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
_N/A
2016-01-21 TOP PICK Must be logged in to use chart AQN-T Algonquin Power & Utilities Corp

This fits into the thesis of being pretty defensive. About 90% of their earnings come from the US. Dividend yield of 4.91% is well covered and is capable of growing. He models a 15% free cash flow growth over the next few years. This is one where you get paid and it is not going to hurt you. In this kind of market, pick your time to step in.


Price:
$10.840
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Yes
2016-01-21 TOP PICK Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

(A Top Pick Nov 26/14. Up 8.33%.) Renewable, infrastructure, improving property values in the US, asset management, private equity flows. This is a low interest rate idea. Believes it can grow 17% FFO over the next couple of years. Trading at a discount to his assumed next year’s NAV. Dividend yield of 1.59%.


Price:
$40.050
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Yes
2016-01-21 COMMENT Must be logged in to use chart BIP.UN-T Brookfield Infrastucture Partners

As long as we are not in a waterfall, this is a good name. He is seeing 13% from funds operation growth over the next couple of years, from a pending Australian acquisition, growth in Brazil and toll roads in India. One of the problems is that it reports in US$ and only about 25% of their business is in the US, but 75% of their FFO (funds from operations) is hedged over the next 18-25 months to the US$. Has a good dividend which is growing. The kind of a name he would be nibbling on when he feels that the macro is a little more settled.


Price:
$46.220
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Unknown
2016-01-21 BUY Must be logged in to use chart BNS-T Bank of Nova Scotia

Canadian banks are pretty good at these levels now. This has International and is tarred with the emerging markets, but 61% of its international holdings is in good parts such as Mexico.


Price:
$52.740
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Unknown
2016-01-21 DON'T BUY Must be logged in to use chart BTE-T Baytex Energy Corp

Big leverage which is very bad for oil companies right now. At $50 oil, debt to cash flow is very high at 4.8% on 2016 estimates. Unless you believe that in the next 6-12 months that oil is going to go discernibly higher and stay there, this is a name he would not be picking away at.


Price:
$2.400
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
No
2016-01-21 COMMENT Must be logged in to use chart CHE.UN-T Chemtrade Logisitics Inc.

Q4 is going to be slow for them. They are having larger than normal every 5 year upgrades. This is a chemical company in a tough time, but they do have a stable resilient business model, backed by risk sharing agreements. Pretty good products and good geographical distribution. He sees a low payout ratio of 55%.


Price:
$14.950
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Unknown
2016-01-21 DON'T BUY Must be logged in to use chart CPG-T Crescent Point Energy Corp

At the oil price he models, their dividend is sustainable. Debt to cash flow is pretty reasonable at about 2.2% at $50 oil. However, it is not sustainable at $30 oil. They do have some hedges for 2016-2017 below $40 oil. He doesn’t think any Canadian oil stocks are Buys here. 


Price:
$12.880
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Unknown
2016-01-21 HOLD Must be logged in to use chart CPX-T Capital Power

Unless there is an extreme overshoot by the market, he has an NAV of $17-$18. They could be compensated by the Alberta government for BV destruction. The dividend is high. He models 49% payout ratio, so it looks pretty safe. The company is guiding to a 7% annual growth.


Price:
$16.970
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Unknown
2016-01-21 DON'T BUY Must be logged in to use chart DGS-T Dividend Growth Split Corp

A vehicle where they split out appreciating assets from the dividend. They pay the dividend stream of income to another holder, and you get a leveraged play on the dividend stocks without the dividend. Not a very good idea to own one of these in a down market. When you think markets are going to go the other way, it is not a bad way to get capital appreciation.


Price:
$4.670
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Unknown
2016-01-21 COMMENT Must be logged in to use chart DH-T DH Corporation

Over 60% of earnings are coming from the US. Sintech was an accretive acquisition for them. You’re getting a big US currency translation. A short seller came to town on the back of Valeant when the Canadian public was very susceptible, and this was good for about a $10 drop. Management met every allegation head on. If the markets are good, this is definitely a name you want to be picking away at.


Price:
$30.170
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Yes
2016-01-21 DON'T BUY Must be logged in to use chart ECA-T Encana Corp

Good company and he likes them, but if you model $2.50 gas and $50 WTI for 2016, you are looking at a CapX to Cash Flow of 143% which is not good.


Price:
$5.450
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
No
2016-01-21 COMMENT Must be logged in to use chart EIF-T Exchange Income

Likes this. He models their 2016 estimated payout ratio at 60%. Feels they can raise their dividend again. Not cheap relative to its 5 year, but he models pretty robust earnings per share growth, and 2016 could be 45% higher than last year. The caveat is that it is a fairly small stock and thinly traded. This is a good level for this name.


Price:
$22.350
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Unknown
2016-01-21 HOLD Must be logged in to use chart ENB-T Enbridge

Payout ratio has crept up a lot. As far as he can see 95% of their earnings are contracted out for the next 3 years. There is still a lot of bottlenecks in the system. Thinks you will be okay with this and you will get paid your dividend. Ultimately however this stock will start to trade on visibility, post 2018-2019, if oil prices remain low.


Price:
$44.660
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
Unknown
2016-01-21 COMMENT Must be logged in to use chart G-T Goldcorp Inc

When it is time to be buy gold, this is one of your good go to, good quality names, that he would start looking at very closely. Not sure this is the time for gold to shine.


Price:
$14.010
Subject:
CANADIAN DIVIDEND
Bias:
BULLISH
Owned:
No
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