Updating BELL ALIANT INC. and PENGROWTH ENERGY CORP.

Article Excerpt

BELL ALIANT INC. $28 (www.bellaliant.ca) earned $0.43 a share in the three months ended March 31, 2013, unchanged from a year earlier. Revenue rose 0.3%, to $683.6 million from $681.8 million. Strong demand for high-speed Internet and TV services offset lower local and long-distance revenue. The company’s fibre-optic network now reaches 679,000 homes in Atlantic Canada and rural parts of Ontario and Quebec. That’s up from 516,000 a year ago. For 2013, it plans to expand its network to 800,000 homes. Buy. PENGROWTH ENERGY CORP. $5.07 (www.pengrowth.com) continues to develop its Lindbergh oil sands project in Alberta. When this operation begins commercial production late next year, it should produce 12,500 barrels a day. That’s equal to 14% of the 89,702 barrels a day that Pengrowth produced in the first three months of 2013. Lindbergh will also help Pengrowth cut its exposure to low natural gas prices. The company aims to get 80% of its production from oil by 2018, up…