Every Tuesday we bring you “Best Canadian Stocks.” You get our specific recommendation on the stocks we profile, with a full explanation of how we arrived at our opinion. You’ll read about stocks making moves you should know about, from coverage in one of our three newsletters featuring Canadian stocks—The Successful Investor, Stock Pickers Digest and Canadian Wealth Advisor.
VERESEN (Toronto symbol VSN; www.vereseninc.com) owns pipelines, power plants and gas-processing facilities across North America.
A major holding is 50% of the Alliance gas line, which runs 3,000 kilometres between Chicago and Fort St. John, B.C. Veresen also owns the Alberta Ethane Gathering System, 42.7% of the Aux Sable NGL plant, and the Hythe/Steeprock natural gas gathering and processing complex in the Cutbank Ridge region of Alberta and B.C.
Veresen has agreed to pay $1.43 billion for Global Infrastructure Partners’ 50% interest in the Ruby pipeline system.
Ruby is a newly built natural gas line that runs 680 miles from Wyoming to Oregon. Right now, it can pump 1.5 billion cubic feet a day, but that could be increased to 2.0 billion. Partner Kinder Morgan will operate the system.
The conservative advantage
Conservative investors have one big advantage—when you guard your money, you’re ready for the tremendous opportunities that appear when the market moves up. Opportunities like Pat McKeough’s Safety-Conscious Stock of the Year for 2013. Bank of Nova Scotia proceeded to hit all-time highs, rising by as much as 12.9% while rewarding investors with the generous 3.9% dividend yield. Pat made it his Safey-Conscious Stock of the Year again for 2014 and it has risen by as much as 24% since he first picked it as his 2013 Stock of the Year.
You find many more opportunities like this in Canadian Wealth Advisor, Pat McKeough’s newsletter for conservative investors who want to earn more with less risk. The latest issue has just been released. As a new subscriber you can save $50.00 on an introductory subscription. Click here to start your risk-free subscription to Canadian Wealth Advisor now.
Dividend stocks: Dividends from Ruby will give Veresen an immediate boost in cash flow
The Ruby pipeline will benefit Veresen in two main ways:
First, the company is buying its interest through preferred shares that it can convert into common shares whenever it chooses. That means it will receive steady preferred dividends that will immediately add to its cash flow per share.
Second, Veresen continues to move ahead with its plan to build the $6.8-billion Jordan Cove liquefied natural gas plant in Oregon. If regulators give the company final approval, the project could start up and begin exporting LNG to Asia in 2019.
The Ruby pipeline terminates at the Malin hub in Oregon, so it will give the company a nearby and assured source of natural gas for Jordan Cove.
To help pay for the purchase, Veresen is selling 56.1 million common shares at $16.40 each to raise $920 million.
Veresen is a buy recommendation of Canadian Wealth Advisor.
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Every Tuesday we bring you “Best Canadian Stocks.” You get our specific recommendation on the stocks we profile, with a full explanation of how we arrived at our opinion. You’ll read about stocks making moves you should know about, from coverage in one of our three newsletters featuring Canadian stocks—The Successful Investor, Stock Pickers Digest and Canadian Wealth Advisor.
