Investment Q&A

Q: For most of your reports I usually check some of the fundamental data against my sources (Stockwatch). When I looked at your recent report on BEP.UN I noticed that you show them as having a market cap of $7.6B. I saw that Stockwatch shows the market cap of $3.9B – so I inquired and they supplied me with this statement from the TSX (their source):

I have confirmed with our Listings Dept. that 132,884,483 units are issued and outstanding for BEP.UN - Brookfield Renewable Energy Partners LP. And that this balances with the company's "Form 1" for July 2012.

This is an issued and outstanding number and not fully diluted.

The number from the email below is most likely the fully-diluted number which TSX does not display on our site.

So I’m wondering what number is correct?

Please feel free to post my question and answer if you feel it would be helpful to others.

Q: Hello and thanks for your opinions and information. BEP.UN has fallen somewhat in the last few days. Do you see this as a minor bump or is there something that has changed to cause this?

Q: Alta Gas [ALA] is almost 20% of my non-reg portfolio. Avg div yield based on my cost is 6.88% [I've held it for a few years]. Can you recommend a similar stock with a good yield and limited downside that I could review? I need the dividend income ALA generates.
Thanks - Ron

Q: Is your answer to Gary on renewable energy companies at odds with your "A" rating on bep.un?

Q: Which stock do you prefer for an income with growth porfolio. I own both Northland, and AlA as well as Brookfield Infrastructure.Thank you,

Q: Thanks for analyzing and publishing your recommendation on BEP.UN. I really like the business after reading your report and the corporate presentation on their web site - stable business with long-term contracts and good international growth opportunities. One thing I'm curious about is how the NYSE listing is going to be structured later this year. I assume new shares will be issued. And if so, does that mean the value of existing TSX shares will be diluted? And it's better to invest after the NYSE listing? How is this type of secondary listing usually done? Any thoughts and comments? Thanks.