Latest Expert Opinions

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
August 20, 2012

A mortgage REIT. This is more exposed to the various refinancing programs that are being rolled out in the US.

A mortgage REIT. This is more exposed to the various refinancing programs that are being rolled out in the US.

Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$17.080
Owned
Yes
WATCH
WATCH
August 20, 2012

A mortgage REIT. Not as exposed to the various refinancing programs being rolled out in the US as Annaly Capital Management (NLY-N), so is a little more insulated. They are frequent issuers of capital, so he would wait for an equity raise.

A mortgage REIT. Not as exposed to the various refinancing programs being rolled out in the US as Annaly Capital Management (NLY-N), so is a little more insulated. They are frequent issuers of capital, so he would wait for an equity raise.

Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$34.050
Owned
Yes
COMMENT
COMMENT
August 20, 2012

He uses this as a “cash equivalent” so when he has access cash he puts it in here rather than overnight term deposits. You won’t have dividend growth with this one. Increasingly, people will sell out of this as they grow concerned that the dividend might be cut. Payout ratio is low. Wireline telephony is in secular decline.

Bell Aliant (BA-T)
August 20, 2012

He uses this as a “cash equivalent” so when he has access cash he puts it in here rather than overnight term deposits. You won’t have dividend growth with this one. Increasingly, people will sell out of this as they grow concerned that the dividend might be cut. Payout ratio is low. Wireline telephony is in secular decline.

Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$26.430
Owned
Unknown
BUY
BUY
August 20, 2012

Missed on the 2nd quarter, probably due to their acquisition of Provident. This acquisition gave them more exposure to frac spreads. Great midstream operator. They do transport, storage and terminaling for heavy oil out of the oil sands. Cheap. 5.8% distribution.

Missed on the 2nd quarter, probably due to their acquisition of Provident. This acquisition gave them more exposure to frac spreads. Great midstream operator. They do transport, storage and terminaling for heavy oil out of the oil sands. Cheap. 5.8% distribution.

Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$27.590
Owned
Yes
BUY WEAKNESS
BUY WEAKNESS
August 20, 2012

Have electrical transmission, generation and distribution mainly in the Northeast US, Atlantic Canada and the Caribbean. Great management. Balance sheet is in great shape. Probably worth around $36, so wouldn’t add at these levels. Buy below $34. 3.9% dividend.

Emera Inc (EMA-T)
August 20, 2012

Have electrical transmission, generation and distribution mainly in the Northeast US, Atlantic Canada and the Caribbean. Great management. Balance sheet is in great shape. Probably worth around $36, so wouldn’t add at these levels. Buy below $34. 3.9% dividend.

Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$34.880
Owned
Yes
DON'T BUY
DON'T BUY
August 20, 2012

Power generation. Has a couple of assets that you have to keep an eye on. Balance sheet and payout ratio were in trouble so distribution was cut and may have to be cut more. It had collapsed 23% in one day, he bought, it went up 9% in one day and he Sold.

Power generation. Has a couple of assets that you have to keep an eye on. Balance sheet and payout ratio were in trouble so distribution was cut and may have to be cut more. It had collapsed 23% in one day, he bought, it went up 9% in one day and he Sold.

Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$4.400
Owned
No
BUY WEAKNESS
BUY WEAKNESS
August 20, 2012

Margins are much better on engineering consulting than on construction. Owns this but probably won’t keep it. He would be a buyer below $20. 6.8% dividend yield.

WSP Global Inc. (WSP-T)
August 20, 2012

Margins are much better on engineering consulting than on construction. Owns this but probably won’t keep it. He would be a buyer below $20. 6.8% dividend yield.

Dennis Mitchell, CFA
Executive Vice-President & Chief Investment Office, Sentry Select Capital Corp
Price
$21.730
Owned
Yes