Capstone Infrastructure Corp., $3.71, symbol CSE on Toronto (Shares outstanding: 92.8 million; Market cap: $356.4 million; www.capstoneinfrastructure.com), is an electricity producer with 439 megawatts of capacity. It operates gas, wind, hydro, biomass and solar facilities and is developing wind power projects capable of generating a total of 79 megawatts of capacity.
Capstone also invests in utilities, including a 33.3% stake in a municipal-heating business in Sweden and 50% of a regulated water utility in the U.K.
The company continues to look for acquisitions. That adds risk, especially since it has previously added a wide range of operations, including solar and biomass, and made acquisitions as far away as Sweden.
The stock trades at 7.0 times this year’s forecast cash flow of $0.53 a share. It yields a high 8.1%, but it expects to pay out 57% of its cash flow as dividends this year. That means its high dividend is likely sustainable.
Capstone Infrastructure Fund is okay for aggressive investors to hold…
Privacy Policy and Terms of Use
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What personal information do we collect?
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Changes to this Policy
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