Pat: I bought a few shares of Parkland Fuel in my RRSP back in 2009. It has given me a solid return. What is your recommendation on this stock going forward? Thanks.
Parkland Fuel Corp., $26.35, symbol PKI on Toronto (Shares outstanding: 82.6 million; Market cap: $2.2 billion, www.parkland.ca), operates gas stations, convenience stores and a fuel-distribution business, mostly in Western Canada and Ontario. It was called Parkland Income Fund before it converted to a dividend-paying corporation on December 31, 2010.
The company owns 143 rural gas stations and convenience stores. Its brands include Fas Gas Plus, Race Trac Gas and Short Stop. Many of Parkland’s stations sell propane in addition to gasoline and diesel fuel.
Parkland also operates Esso stations in Western Canada and Ontario under a licensing deal with Imperial Oil (symbol IMO on Toronto). In addition, it has an agreement to use the Chevron brand in B.C.
The company continues to sell stations to franchisees. This lets it collect rent and commissions on fuel sales without having to staff and operate the stations.
Parkland also sells fuel directly to businesses and 539 independent gas stations. In 2012, it converted its Bowden oil-storage tanks…
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