CANADIAN UTILITIES LTD. (Toronto symbols CU [class A non-voting] $67 and CU.X [class B voting] $67; Income Portfolio, Utilities sector; Shares outstanding: 127.6 million; Market cap: $8.5 billion; Price-to-sales ratio: 2.8; Dividend yield: 2.6%; TSINetwork Rating: Above Average; www.canadianutilities.com) distributes electricity and natural gas in Alberta. It also operates 18 power plants in Canada, Australia and the U.K. ATCO Ltd. (see page 104) owns 52.7% of the company.
Canadian Utilities continues to benefit from last year’s $1.1-billion purchase of a company that distributes natural gas in Perth, Australia. That helped offset lower revenues from its Alberta power plants due to planned maintenance shutdowns.
As a result, the company’s earnings rose 5.6% in the second quarter of 2012, to $95 million, or $0.74 a share. The new Australian business added $16 million to that total. A year earlier, Canadian Utilities earned $90 million, or $0.70 a share. Revenue rose 6.0%, to $706 million from $666 million.
The company will probably earn $3.97 a share in 2012. The stock trades at 16.9 times that estimate. The $1.77 dividend yields 2.6%.
Canadian Utilities is a buy. The more liquid class A non-voting shares are the better choice.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
This privacy policy is applicable to all TSI Network Visitors, Clients, Employees, Suppliers, Web sites, Management, and all other interested parties. Any links to or from our site are not covered by this policy. We encourage you to read the privacy policies of every site that you visit.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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