INNERGEX RENEWABLE ENERGY $10.27 (Toronto symbol INE; Shares outstanding: 81.3 million; Market cap: $835.8 million; TSINetwork Rating: Extra Risk; Dividend yield 5.7%; www.innergex.com) owns and operates 25 hydroelectric and wind power facilities in Quebec, Ontario, B.C. and Idaho.
Innergex gets about 80% of its power from hydroelectric plants. Wind farms supply the remaining 20%. Wind power is heavily reliant on politically sensitive government subsidies. To cut its risk, Innergex makes sure it has firm long-term power-purchase contracts in place before it makes acquisitions or starts building new plants.
In April 2011, Innergex bought Cloudworks Energy for $187 million. That added stakes in six operating hydroelectric plants in B.C. and other projects that are still under development.
Innergex aims to keep increasing its hydroelectric and wind power capacity; the company is developing or building 10 projects right now, and will start up its first solar power facility later this year.
Before one-time items, Innergex’s earnings per share rose to $0.13 in the three months ended September 30, 2011, from $0.05 a year earlier. Cash flow per share rose 33.3%, to $0.32 from $0.24. Cloudworks’ contribution was the main reason for the gains.
Innergex trades at 7.9 times its forecast 2012 cash flow of $1.30 a share. It yields 5.7%.
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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.
The privacy of the site/store visitor is very important to TSI Network, and is respected at all times. The information we receive from customers helps us to personalize and continually improve your online experience at TSI Network.
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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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
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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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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