Opinions
Rick Stuchberry
TerraForm Power
TERP-Q
TOP PICK
Jul 13, 2015
N/A
Stock price when the opinion was issued
Utilities
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TOP PICK
Alternative energy production. There is a long term positive secular trend in this industry. This was recapitalized by Brookfield about a year ago, who are more likely to buy more of this company than to sell their holding. They intend to grow the dividend by 5 – 8 % a year. It is a good defensive pick. (Analysts’ target: $13.33).
Utilities
COMMENT
5.64% dividend. Share price has been pretty good over the last year or so. Ran into some cash flow issues back in 2016. Climbed their way back. Barely cash flow positive now. Sort of begs the question of how are they paying those dividends. Need to look at the amount of debt to answer the question of financial sustainability to pay such a high dividend.
Utilities
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Basically a green utility. It started out as more of a solar company and is going to 50/50 solar/wind. It has geothermal and hydroelectric. There is lots of growth. They bought part of Atlantic Power (ATP-T) and some wind farms in the West. They can tuck in a lot of acquisitions, and he thinks the dividend growth is going to be significant. A dividend play with growth. 3.3% dividend yield.