Category Archives: FTS.TO

Fortis Inc. 10-Year Targets

Posted on September 26, 2020 by | Leave a comment

Below are the valuation targets for Fortis Inc. (FTS.TO) for the next 10 years. Continue reading →

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Posted in 10-year Targets, Altimeter, FTS.TO

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February 2014 Canadian Performance Review

Posted on February 17, 2015 by | Leave a comment

Below is the performance of the nine stocks from the February 14, 2014 Canadian Dividend watch list compared to the Toronto Stock Exchange gain of +9.16%.

Symbol Name 2014 2015 % change
TLM.TO Talisman Energy 11.66 9.52 -18.35%
FCR.TO First Capital Realty 17.33 20.07 15.81%
FTS.TO Fortis Inc. 30.71 39.53 28.72%
CWT-UN.TO Calloway REIT 25.77 30.45 18.16%
CAR-UN.TO Canadian Apartment Properties 21.52 26.98 25.37%
D-UN.TO Dundee REIT 29.31 27.26 -6.99%
BNS.TO The Bank of Nova Scotia 63.29 67.4 6.49%
CUF-UN.TO Cominar REIT 18.45 19.65 6.50%
LB.TO Laurentian Bank of Canada 45.96 50.4 9.66%

The average gain for all of the stocks listed was +9.49%.  The best performing stock was Fortis (FTS.TO) with a gain of +28.72%.  Over the last year has made 4 dividend payments with a dividend increase of +6.25% with the latest payment on February 12, 2015.  The worst performing stock was Talisman Energy (TLM.TO) with a decline of –18.35%.

Analyst estimates for the listed stocks are compared to the actual performance in the chart below.

image

Talisman Energy (TLM.TO) was projected to have the worst decline and it did.  However, it could have been much worse as depicted in the chart below.  At one point, Talisman Energy stock price declined as much as –63% before Spanish oil giant Repsol (REP.MC) announced on December 15, 2014 the intention to buy TLM.TO.

image

Our commentary on the dire analyst expectations for Talisman Energy was:

“As far as we can tell, TLM.TO is not slated to be worth very much by the end of 2014.  We’ll have to see how this picture plays out.  However, if the stock market can keep its head above water for the next 10 months we wouldn’t be surprised to see TLM.TO to pull off a shocker.”

In the midst of a collapsing oil and stock prices, Talisman did pull off a shocker and just before the end of 2014.

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Posted in BNS.TO, CAR-UN.TO, CUF-UN.TO, CWT, D-UN.TO, FCR.TO, FTS.TO, LB.TO, TLM.TO

Canadian Dividend Watch List: December 2014

Posted on December 21, 2014 by | Leave a comment

Performance Review

Our December 2013 watch list contained 14 companies.  The 1-year performance is listed below.

Symbol Name 2013   2014   % change
D-UN.TO Dundee REIT 28.22   24.89   -11.80%
CUF-UN.TO Cominar REIT 17.92   18.39   2.62%
FTS.TO Fortis Inc. 30.31   37.96   25.24%
CWT-UN.TO Calloway REIT 24.72   27.25   10.23%
CAR-UN.TO Canadian Apartment Properties REIT 20.84   24.41   17.13%
TA.TO TransAlta Corp. 13.38   10.71   -19.96%
REI-UN.TO Riocan Real Estate Investment Trust 24.54   26.91   9.66%
SAP.TO Saputo, Inc. 24.12   33.96   40.80%
CU.TO Canadian Utilities Ltd. 35.26   39.01   10.64%
FCR.TO First Capital Realty Inc. 17.5   18.65   6.57%
EMA.TO Emera Incorporated 30.63   38.10   24.39%
REF-UN.TO Canadian REIT 42.08   46.16   9.70%
AX-UN.TO Artis Real Estate Investment Trust 14.65   14.32   -2.25%
ESI.TO Ensign Energy Services Inc. 16.42   10.91   -33.56%

At the time, our analysis of the list was summed up in the following commentary:

“As we’ve indicated in the past, companies that are typically expected to experience the most decline under the lowest earnings scenario are often the ones that outperform in the following year.  We will see if TransAlta, Fortis, Emera, First Capital Realty and Saputo manage to exceed the performance of the stocks currently expected to be in the positive one year from now.  Because of our bias on this matter, we favor the stocks expected to decline in price based on analyst low estimates.”

Our commentary was based on estimates of price change using analyst earnings projections for the coming year (2014) as seen below:

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Below is a graphical representation of the change that has occurred in the last year:

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As has been the case time and again, the stocks that were expected to do the worst actually outperformed the stocks that were anticipated to do the best.  Of the five companies (TransAlta, Fortis, Emera, First Capital Realty and Saputo) that were expected to decline in value averaged a gain of +15.41%.  Of the remaining stocks that were expected to increase, the average gain was +0.22%.  The entire list gained +6.39% while the Toronto Stock Exchange gained +6.48%.

Of interest to all investors is the performance of TransAlta (TA.TO) down –19.96% and Canadian Apartment Properties (CAR-UN.TO) up +17.13%.  The analyst low expectations of these stocks were extremely accurate.  We’re hoping that the analysts tracking these stocks could achieve a repeat performance.

Canadian Dividend Watch List: December 2014

This is a list of Canadian dividend stocks that are currently on our radar. For those wishing to find the most complete fundamental information on these companies, we recommend visiting one of Canada’s leading financial websites, the Financial Post (found here). However, Yahoo!Finance probably has the better long-term charts and historical dividend data.

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Posted in Canadian Dividend Watch List, EMA.TO, FCR.TO, FTS.TO, SAP.TO, TA.TO

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Canadian Dividend Watch List: March 20, 2013

Posted on March 20, 2013 by | Leave a comment

This is a list of Canadian dividend stocks that currently, or in the past, had a history of consecutive dividend increases. For those wishing to find the most complete fundamental information on these companies, we recommend visiting one of Canada’s leading financial websites, the Financial Post (found here). However, Yahoo!Finance probably has the better long-term charts and historical dividend data.

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Posted in Canadian Dividend Watch List, CUF-UN.TO, FTS.TO, JE.TO, NA.TO, REI-UN.TO

Canadian Dividend Watch List: December 21, 2012

Posted on December 21, 2012 by | Comments Off on Canadian Dividend Watch List: December 21, 2012

This is a list of Canadian dividend stocks that currently, or in the past, had a history of consecutive dividend increases. For those wishing to find the most complete fundamental information on these companies, we recommend visiting one of Canada’s leading financial websites, the Financial Post (found here). However, Yahoo!Finance probably has the better long-term charts and historical dividend data.

Symbol Name Price P/E EPS Yield P/B % from low
EMA.TO Emera Inc. 34.22 18.92 1.81 4.10% 2.87 6.83%
FTS.TO Fortis Inc. 33.93 20.09 1.66 3.70% 1.64 7.10%
FFH.TO FAIRFAX FINANCIAL HOLDINGS LTD. 359.24 - - 2.80% ∞ 7.24%
IMO.TO Imperial Oil Ltd. 43.09 9.88 4.34 1.10% 2.33 8.32%
TRI.TO Thomson Reuters Corporation 28.77 - -1.07 4.40% 1.41 8.76%
EMP-A.TO Empire Company Limited 59.17 10.76 5.5 1.60% 1.12 10.70%

Watch List Summary

What happened to all of the companies on the watch list this month?  Simply put, there were fewer companies within 10% of their 52-week low compared to the November 15, 2012 watch list (found here).  So, what happened to the companies from the November 15th list?  The table below tells the story:

symbol
 Name 15-Nov 21-Dec % change
CCO.TO Cameco Corp. 16.73 20.03 19.73%
AGF-B.TO AGF Management Limited 9.13 9.75 6.79%
TIH.TO Toromont Industries Ltd. 19.19 21.34 11.20%
IGM.TO IGM Financial Inc. 38.98 42.43 8.85%
GS.TO Gluskin Sheff + Associates, Inc. 13.95 14.84 6.38%
CNQ.TO Canadian Natural Resources 27.58 28.86 4.64%
PWF.TO Power Financial Corporation 25.56 27.39 7.16%
FTT.TO Finning International Inc. 22.13 24.46 10.53%
CCA.TO Cogeco Cable Inc. 37.58 39.13 4.12%
CTC-A.TO Canadian Tire Corp. Ltd. 66.39 70.02 5.47%
CU.TO Canadian Utilities Ltd. 64.61 70.9 9.74%
ESI.TO Ensign Energy Services Inc. 14.13 15.13 7.08%
TRP.TO TransCanada Corp. 44.25 47.35 7.01%
  Average change since Nov. 15th     8.36%

The last month has been excellent for a majority of the companies that were on the November 15th Watch List.   Of the companies that were on the watch list, the top half of the list gained an average of +9.60% with Cameco Corp. leading the way.  The bottom half of the list gained an average of +7.30% with Cogeco Cable lagging behind all of the stocks.  On the average, all of the stocks not on the list this month gained, as a group, +8.36%.

We prefer to concentrate our holdings at 10% of the portfolio and above.  Afterwards, we like to take gains of +10% or more.  Obviously, we would have missed the +9.73% gains that CCO.TO achieved after hitting the +10% gain mark.  However, we’re very comfortable with consistent small gains that are above average annual market returns (approximately +11% annually for the last 50 years) and letting the profits run while reallocating the rest of the capital to other investment opportunities.

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Posted in Canadian Dividend Watch List, EMA.TO, FFH.TO, FTS.TO, IMO, TRI.TO