INNERGEX RENEWABLE ENERGY $10.55 (Toronto symbol INE; Shares outstanding: 81.3 million; Market cap: $857.7 million; TSINetwork Rating: Extra Risk; Dividend yield 5.5%; www.innergex.com) owns and operates 25 hydroelectric and wind-power facilities in Quebec, Ontario, B.C. and Idaho.
Innergex gets 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 powerpurchase 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.
The company’s earnings per share rose to $0.10 in the three months ended March 31, 2012, from $0.08 a year earlier. Cloudworks’ contribution was the main reason for the gain.
Innergex trades at 11.1 times its forecast 2012 cash flow of $0.95 a share. It yields 5.5%.
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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.
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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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Changes to this Policy
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