Capital Power (CPX-T)

Has done very well lately; not normal for a dividend-payer to march up like this. He's holding right now, but waiting to sell it off. Have to be very cautious if you buy, could lose 10-15% very quickly. Somewhat predictable. The 5-10 year chart has lots of volatility, but not like a tech stock. All-time, record highs; not a bad holding.

They have exposure to a data centre in Alberta, possibly a new hug for data centre energy. It's re-rated due to lower interest rates. These stocks are recovering and still are. Still room to run.

They have some interesting projects, like converting coal into natural gas (one in Alberta). Pay a 5% dividend. Are good for growth.

We would consider it a HOLD; FTS, BEPC and H we think look a bit better right now but we would not sell what is working well. 
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Near term, lots of $$ coming into utilities partly because of rate cuts. That's fine. Saw generational low interest rates in 2020, and we're going to see rates ratchet slowly higher for next 15-20 years. So inflation and rates are going to be stickier, making bond proxies harder longer term.

So you need to make sure you have dividend growth. Lean toward dividend growth, rather than high dividend but low growth. Good record of dividend growth, technicals are sound.

Excellent company. Dividend looks relatively safe at this point, with decent growth. Rate-cutting cycle will prop up dividends in general. Canadian operations are sound, and those outside Canada are extremely strong. Looks a bit expensive, but probably still has room to grow as rate cuts start rolling in.

Likes their strategy of buying natural gas assets which need a new contract, buying them at a low price. CPX has good performance and pays a high dividend. Supplying data centres is a tailwind.

If you're going to buy a utility, own something like this that's going to increase the dividend reliably. Has a 6% yield that grows consistently.

All utilities had a big selloff when rates were rising in 2022 and 2023. Then, as interest rates went nowhere, so did the stocks, just collecting the dividend. BOC has cut twice, Fed is probably going to start. Utilities have come up off lows, but haven't started to move up yet.

This one has been starting to pick up. 

Was in a downtrend. Now breaking that and making new highs and lows, all good. Now you start looking at next levels, somewhere around $45, and it's pretty close to that right now. If that gets taken out, you could see $50 or so.

Pays you a very competitive income stream, yielding about 5%. Canadian dividend tax credit. Servicing energy industry, so it fits into the long-term themes. Expects some growth in dividends. The kind of play you want to make as part of the nat gas transition and less-green-for-longer transition.

The 5th-largest independent power producer in North America, deriving 50/50 of EBITDA from Canada and the US. They play into the theme of energy transition that will last decades. Growth is good, by buying American companies. They have 3 natural gas facilities from Alberta; NG will be the main energy that will transition us from traditional energy to renewables. Also, power centres connected to AI have been approaching CPX as a potential partner. Lower interest rates help.