Sunday, 28 February 2016

Canopy Growth Corporation reports 3rd Quarter 2016 results

Canopy Growth Corporation reported their 3rd Quarter 2016 results which can be found here.

Canopy Growth Corporation is a Canadian holding company that owns Tweed Farms and Bedrocan, producers of medical marijuana in Canada. While recreational marijuana isn't legal as yet in Canada, the current Liberal Government campaigned on and announced their intention to legalize marijuana. Companies like Canopy, which operate under Canada Health's regulated program to provide access to medical marijuana, are strongly positioned to take advantage of any change in those laws.

Canopy is Canada's largest producer, and their growth speaks to the growing base of patients they've been bringing on board. With 41% growth over the last quarter, and 430% two year growth, this is one of my speculative holdings that I am holding on to as things play out.

Thursday, 25 February 2016

Innergex Reports 4th Quarter 2015 Results, 3% dividend increase

Innergex reports their 4th Quarter 2015 results, which can be found here.

The renewable energy sector performance train rolls forward. Innergex reported ongoing project success, bringing in their latest developments on time and under budget, while continuing to expand their portfolio of projects.

As I mentioned previously, renewable energy has become increasingly attractive as nations look to divest themselves of fossil fuel assets such as coal burning plants, and that effort can do nothing but benefit renewable energy providers.

Boralex reports 4th Quarter 2015 results, raises dividend 7.7%

Boralex reported their 4th Quarter 2015 results, which can be found here.

Renewable energy continues to be outperforming other asset classes in my portfolio to a significant degree, and Boralex continued that trend, demonstrating tremendous growth over 2015 and raising their dividned 7.7%. With the world increasingly moving away from fossil fuels as a source of electrical generation, renewable energy companies are reaping the benefits of their long term investments, planning and growth. Boralex has excellent exposure to wind and hydro generation in Canada, the US and France, and their current focus on the European continent has provided them tremendous opportunities with recent purchases of growth projects.

RBC posts 1st Quarter 2016 results, raises dividend 3%, energy loan losses soar

RBC (TSX:RY) posted their 1st Quarter 2016 results, which can be found here.

RBC Royal Bank may have mollified investors by raising the dividend 3%, but the results were largely mediocre. With the exposure of the big banks in Canada to losses on business loans in the energy sector, it was hardly surprising that results in that area would be subpar, and that extends out in to all areas of business. As the economic fortunes of Alberta continue to fail, every branch of finance that touches on the Province has demonstrated that it is not immune to the effects of the disaster unfolding there.

That said, the rest of Canada and the world continues to chug along in slow growth mode, mitigating the damage done, and while I don't expect to see spectacular results out of RBC over the next year or two, they continue to be a stable part of my portfolio.

Sunday, 21 February 2016

Superior Plus Reports 4th Quarter Results for 2015

Superior Plus reported their 4th Quarter Results for 2015 which can be found here.

Superior Plus (TSX:SPB) is currently preparing to take over Canexus, another chemical producer, which has put a lot of pressure on the company of late due to concerns over financing (Superior Plus still carries a high debt load, though it's been steadily getting lower over the years) and Canexus has been an underwhelming performer over the last few years as well. Superior Plus is, however, obtaining assets that will make it a global leader in sodium chlorate and chloralkali, which over time should prove a positive benefit. However, until the deal finalizes, there's not much room for this to move up.

Capital Power 4th Quarter Results

Capital Power reported their 4th Quarter Results, which can be found here.

Capital Power has, by far, been one of my most underwhelming performers this year, though for entirely understandable reasons. It's the only power generation company I have that still uses fossil fuels, in a Province transitioning away from coal, while also experiencing an economic recession. Despite all these headwinds, the results were better than expected, and with their expansion into renewable energy sources, I find them to be one of the 'old school' power companies that is looking ahead to the future and doing what they can to capitalize on it.

Friday, 19 February 2016

Dream Global REIT Reports 2015 4th Quarter

Dream Global REIT reported their 2015 4th Quarter results, which can be found here.

Dream Global is the portion of my real estate holdings held outside of North America, and focuses on office space in Germany. Their results shown continued strength in this area, bolstered by an ongoing strength of demand and solid economic results within the country. While it can be tempting to view Canada as representative of the global economy, it isn't. It always pays to diversify outside your own country.

Thursday, 18 February 2016

Global pulse demand increases demand and pricing for Canadian crops

This trend, while probably temporary (as all commodity booms usually are), should have a positive impact on AGT Food and Ingredients (TSX:AGT) throughout the year, as they are heavily focused on processing and shipment of pulse crops. They have been low on the radar due to the focus in Canada on other crops, but the demand for pulses has been growing over the years and they are in a good position to capitalize on it.

Pulses have been popular as a source of non meat protein, and as a flour to fill in nutrient gaps. Many popular pastas have been using portional pulse content to do this. In addition, pulse flour has been used to produce gluten free pastas. While I personally find gluten free to be more of a popular 'me too' trend, it's increased demand for pulse crops and does have the benefit of providing more goods on the market that actual celiacs can benefit from in their diets.

Tuesday, 16 February 2016

CAP REIT reports 4th Quarter 2015 results and record growth

Canadian Apartment Properties REIT (TSX:CAR.UN) reported their 4th Quarter 2015 results, which can be found here.

With record growth, CAP REIT is continuing with the slow and steady trend that I like to see out of my work horse holdings. As I'd mentioned before, a holding like this allows me the benefits of collecting rent without actual being a land lord. While Alberta continues to struggle, people still need places to live, and when a home becomes unaffordable, they often look to rentals. Despite the economic downturn, CAP REIT continues to collect the rent and pass it on to people like me.

And unlike owning a rental property, I have the reliability of knowing the cheque is in the mail, that it will be the right amount and that even if a tenant leaves, thousands more wait in the wings.

Sunday, 14 February 2016

Sherritt International 4th Quarter 2015 earnings

Sherritt International declared their 4th Quarter 2015 earnings last week, which can be found here.

Sherritt International has had a rough few years with the steady decline of commodities pricing across the globe. Aside from being focused on Nickel, with some of the largest and lowest cost mines around, they also have exposure to Oil & Gas through their operations in Cuba.

Cuba is one reason I hold on to Sherritt, aside from the speculation that at some point, commodities will rebound and as a lower cost producer, they will benefit. With Nickel, Oil, and power operations in Cuba, and the island watching the US embargo melt away, I think there's opportunity for Sherritt to see some knock on benefits down the road as the economy there matures and expands, particularly in power production. Currently, Sherritt is the only foreign power producer in Cuba and as such has tremendous upside potential as the island upgrades its power infrastructure.

Friday, 12 February 2016

TELUS 4th Quarter 2015 Earnings results

TELUS announced their 4th Quarter 2015 earnings results, which can be found here.

One of Canada's largest full spectrum communications companies (along with Rogers and Bell, and soon to be joined by Shaw), TELUS has a large focus in Western Canada, and the results demonstrated how Alberta's current problems can impact even a large company like TELUS. By the same token, it also demonstrates how that impact, while serious for Alberta and all companies that do business there, the rest of Canada is not in nearly as dire straits, and despite their problems, companies with national exposure can continue to post solid growth and earnings.

They also reiterated their intention to raise dividends by up to 10% this year, a commitment they have made over the last half decade and maintained.

Thursday, 11 February 2016

Realty Income (NYSE:O) 4th Quarter 2015 exceeds expectations

Realty Income (NYSE:O) announced their 4th Quarter 2015 and annual results, which can be found here.

Realty Income beat expectations, demonstrating again why it's a lot easier to hold a solid, diversified REIT rather than being a landlord. They'd previously announced a 5% increase in dividend payments, and this follows on the heels of several quarterly increases.

As a landlord, try raising rents every single quarter and see how often you keep tenants. I also don't have to worry about plumbing, termites, or keeping up the property. I just sit back and collect my share of the rent.

Realty Income leases space to some of the largest names in the US, and no one company (not even Walgreen's) makes up more than a few percent of the their overall tenant base. Across 49 States and Puerto Rico, they are one of the more solid commercial landlords out there.

Wednesday, 10 February 2016

Rogers Sugar 1st Quarter 2016 Results

Rogers Sugar announced their 1st Quarter 2016 results, which can be found here.

Rogers Sugar is a bit of a boring staple in my portfolio. In Canada, sugar is a somewhat protected industry, with only two major producers (Rogers and Redpath), and their markets protected by anti dumping duties levied by the Canadian Government. Never mind the fact sugar is a product found in hundreds of consumer goods, but it has industrial applications as well. While I don't expect to see massive value appreciation out of it, delivers a solid, steady dividend and has been a reliable staple in my portfolio for years.

The results demonstrate that, nothing spectacular, nothing upsetting. Solid and steady as she goes.

Tuesday, 9 February 2016

Disney 1st Quarter 2016 Results

Disney has posted their 1st Quarter 2016 results, which can be found here.

The results surpassed expectations, though with the release of Star Wars:The Force Awakens, and the catalogue of Star Wars movies that enjoyed a resurgence in the lead up to it's release, it should hardly be considered a massive surprise. As one of only three movies to surpass $2 billion, it's been a blockbuster on multiple levels. With merchandising tie ins, the new trilogy of movies will be an ongoing source of positive revenue.

ESPN results showed why there are concerns over cord cutting...there's an ongoing weakness that is fundamental as people are moving more and more to on demand media consumption rather than subscriptions to premium services. This is likely to provide a bit of a ceiling on any gains Disney can enjoy, as they will need to find a way to address this phenomena, or watch as it continues to decline in importance.

Definitely going to continue holding on to this for some time to come.

Monday, 8 February 2016

Brookfield Renewable Energy 4th Quarter 2015 Results and Distribution Increase

Brookfield Renewable Energy Partners (TSX:BEP.UN) announced their 4th Quarter 2015 results, and along with it a 7% distribution increase. Details can be found here.

I'd previously mentioned that I hold this particular stock for the growth that renewable energy represents in today's world, as well as the US currency denominated distribution, and these results delivered on both fronts. With a global network of renewable energy in multiple areas, and a growing asset base, Brookfield Renewable looks like it will be able to deliver on dividend growth for some time to come.

The previous quarterly distribution of  $0.415 US has been increased to $0.445 US. This may not sound like a lot, but that original $0.415 US worked out (as of last distribution) to $0.574 Canadian. A 7% increase makes the $0.445 US into a $0.614 Canadian distribution. This is one of the reasons having a US denominated distribution can help mitigate the damage of a falling Canadian dollar.

Sunday, 7 February 2016

Long Term Growth, Part 2: US Holdings

While I already spent some time with what defined 'Long Term Growth', there's a second side to it. Quite apart from wanting to hold on to quality companies for the long term, the simple fact is Canada is a small part of the global economy. Our currency (as many Canadians are now finding) is subject to the fluctuations of a global market that views ours as a petro dollar. Many of the worlds largest companies aren't on Canadian markets.

That's why I hold a significant chunk of my retirement holdings in US stocks, denominated in US currency. As the Canadian dollar declines, they become even more valuable in maintaining the value of my portfolio.

Alcoa (NYSE:AA) is one of the world's largest producers of aluminium and aluminium products, and it's a recent purchase on my part. With the global commodity route in full swing, Alcoa is at record low prices for what I believe is a solid company with good long term products. They are also planning to split into two different companies by the end of the year, one focusing on aluminium production, the other on their 'value add' business of products. This is something I personally believe will provide a lot of value to the company, as their value add business is (at current stock prices) something that seems to have been lost in the commodity prices crash.

Disney (NYSE:DIS) does not really require a ton of explanation. It's a global entertainment and media powerhouse. Most of the successful studio films of the last five years after been produced by the House of Mouse, and they are a theme park juggernaut. They show no signs of slowing down and continue to churn out hit movies, which provide a long term revenue stream once out of the theaters in merchandise and opportunities. Pixar, Marvel Studios, Star all rolls up to Disney's bottom line.

Investors Bancorp (NASDAQ:ISBC) is my exposure to US financials. I wanted something small (but not too small), regional, with the opportunity for long term future growth. So far, looks like it's been a solid pick, with a recent dividend bump and good prospects with the recovering US economy.

Microsoft (NASDAQ:MSFT) is, as I already mentioned, a long term holding based on the growth of cloud computing. Sure, they have a solid entertainment devices division, with XBox and XBox Live providing solid returns, but with the world reliant on data for almost every aspect of our lives, control and access of data has moved increasingly towards cloud based systems, systems Microsoft is currently providing dominant services in.

Nordic American Offshore (NYSE:NAO) is a bit of an outlier. I only have a few shares in the company, they landed in my lap from a spinoff by an old holding of mine, Nordic American Tankers (NYSE:NAT) that I sold off last year for a solid gain. I haven't bothered to sell them off as they continue to pay a dividend, and were essentially 'free' as a result of the spinoff (I already booked a gain on my Nordic American shares).

Realty Income Corp (NYSE:O) is a REIT in the US that has solid real estate holdings in almost every single State. As the landlord for some of the biggest and most solid retail names in the US (Walgreens, FedEx, AMC Theaters), it allows me to collect rent without being a landlord myself.

Unilever (NYSE:UL) is a global consumer products powerhouse. Most people have Unilever products in their home without even realizing it. Dove, Axe, Hellman's, Lipton, Ben & Jerry's...all Unilever. A consumer products company is a critical part of any portfolio, in my mind, because these are products people use every day, buy every day, and even in an economic downturn, many of them are products people won't do without.

Verizon (NYSE:VZ) is one of the largest mobile telecommunications and online media companies in the US. In a world connected by the Internet, those who provide the connections and delivery systems, the phones that we use every day, is an integral part of any long term plan.

Tuesday, 2 February 2016

Dow Chemical 4th Quarter 2015 Results

Dow Chemical has reported their 4th Quarter 2015 results, which can be found here.

Dow Chemical (NYSE:DOW) continues to benefit from lower oil prices and the shedding of low margin businesses as it prepares to merge with DuPont. Not much more to say than that, I'm hoping I can pick up a few extra shares before the merger, as I believe that long term the merger is going to produce some excellent gains, especially as the ultimate splitting into three focused area should produce some tremendous benefits.