Initial Reports (BUY, SPEC BUY Ratings)
Parkland Corp. (PKI:TSX)
Parkland Corp. (PKI:TSX) is Canada’s largest and one of North America’s fastest growing independent marketers of fuel and petroleum products. The company was recommended in January of 2018 at $28.85 (with an income yield of 4.03%) as a result of its low valuation multiples, rapidly growing revenue and sustainable payout ratio. The company traded at a substantial discount to its peer group and has maintained both an attractive yield and growth profile.
Company Updates (BUY, SELL, SELL-HALF, HOLD Ratings)
Algonquin Power & Utilities (AQN:TSX)
Algonquin owns and operates a diverse portfolio of renewable power generation and natural gas distribution assets throughout North America. The company was recommended in August of 2012 at $6.76 (with an income yield of 4.58%). Since our initial recommendation Algonquin has paid over $4.00 in dividends and now trades at $21.34, providing clients with a return of over 310%. Algonquin was recommended as a result of its stable long-term growth in Funds From Operations, a valuation which was attractive relative to its peer group, and a strong pipeline of internal and external growth opportunities.
Brookfield Infrastructure Income Fund (BIP.UN:TSX)
Brookfield Infrastructure Income Fund (BIP.UN:TSX) is a diversified infrastructure company with a global portfolio of long-life assets generating stable revenues on long-term contracts. The company was recommended in March 2011 at $14.41 (with an income yield of 5.7%), has paid our clients over $17.30 in income distributions and currently trades at $64.69 – for a total gain of over 460%. We recommended the company because we saw an opportunity for them to expand their portfolio of contracted, revenue generating assets which supports the attractive income yield. The company also traded at a reasonable valuation and has shown an impressive track record of increasing their income distributions.