most of these earnings came out in late April so are a few weeks late.
numbers in Cdn. $ (which is going up)
TRP TransCanada Pipelines (TRP-TSX/NYSE)
TRP reported .42 EPS for Q1 2003.
Cashflow came in at $457 million for Q1
the company is generating over $200million per quarter in free cashflow, used to pay down debt and acquire more properties.
TRP reported better numbers than expected mainly due to the Bruce Power Plant that they aquired an interest in; also high power prices that were received on the spot prices in Ontario $63MW. The price for energy should average above $50 MW, in 2003.
Bruce contributed .06 to the earnings.
TRP also bought Manchief Plant off of El Paso, which has also added to earnings.
TRP is getting more in the power business, but it is still mainly a pipeline company, and is looking to invest in this area if there can be a good return ie. Northern pipeline from the Mackenzie Delta.
TRP Eps 2002 $1.50 2003 $1.58-$1.62 2004 EPS $1.60-$1.70
TRP divs 2001 .90 2002 $1 2003 $1.08 2004 $1.12-$1.16
TRP has been traded around $22.50 cdn. it may go up to $24-25, downside is $20. it yields over 4.5%. with a good chance of increasing dividends in the future. The stock should be able to make 10% counting the div. TRP will never double from this price or give you 50% returns in one year, but it is a good defensive stock for 10% returns.
Sunlife SLF
Sunlife missed the streets estimates of .59 coming in at .56 EPS.
excluding one time items earnings came in at .52EPS
MFS (US wealth managment/mutual funds) earnings were weak$48million compared to $85 million in Q1 2002.
Annuity earnings in the US were $25 million in Q1 down from $63 million last year.
the acquisition of Clarica has added greatly to the bottom line, helped to contribute $252 million in profits up from $149 last year.
the company repurchased over 4 million shares this quarter, it will probably repurchase over 10 million more shares the rest of the year, this help support the price. Sunlife would probably like to increase the share repurchase program but will have debt to pay down and put money a side for emergencies. Like the $38 million taken in Q1 for exposure in US airlines.
stock yields over 2.5% the dividend will probably not be increased this year.
EPS 2002 $2.32 2003 $2.35-$2.40 2004 $2.55-$2.70
will post CNR, CP, ENB, ECA, this week.
by the way AC stock doubled at one time to over $1.80, talked about it when it was .98 in the SBC thread; it is starting to go down now. at the end of the day stock will go to zero to much debt taken on in recent years.
know some people who believe it will go to $3, at least in the end they will have the share certificates to hang on their wall.
thanks
selkirk
numbers in Cdn. $ (which is going up)
TRP TransCanada Pipelines (TRP-TSX/NYSE)
TRP reported .42 EPS for Q1 2003.
Cashflow came in at $457 million for Q1
the company is generating over $200million per quarter in free cashflow, used to pay down debt and acquire more properties.
TRP reported better numbers than expected mainly due to the Bruce Power Plant that they aquired an interest in; also high power prices that were received on the spot prices in Ontario $63MW. The price for energy should average above $50 MW, in 2003.
Bruce contributed .06 to the earnings.
TRP also bought Manchief Plant off of El Paso, which has also added to earnings.
TRP is getting more in the power business, but it is still mainly a pipeline company, and is looking to invest in this area if there can be a good return ie. Northern pipeline from the Mackenzie Delta.
TRP Eps 2002 $1.50 2003 $1.58-$1.62 2004 EPS $1.60-$1.70
TRP divs 2001 .90 2002 $1 2003 $1.08 2004 $1.12-$1.16
TRP has been traded around $22.50 cdn. it may go up to $24-25, downside is $20. it yields over 4.5%. with a good chance of increasing dividends in the future. The stock should be able to make 10% counting the div. TRP will never double from this price or give you 50% returns in one year, but it is a good defensive stock for 10% returns.
Sunlife SLF
Sunlife missed the streets estimates of .59 coming in at .56 EPS.
excluding one time items earnings came in at .52EPS
MFS (US wealth managment/mutual funds) earnings were weak$48million compared to $85 million in Q1 2002.
Annuity earnings in the US were $25 million in Q1 down from $63 million last year.
the acquisition of Clarica has added greatly to the bottom line, helped to contribute $252 million in profits up from $149 last year.
the company repurchased over 4 million shares this quarter, it will probably repurchase over 10 million more shares the rest of the year, this help support the price. Sunlife would probably like to increase the share repurchase program but will have debt to pay down and put money a side for emergencies. Like the $38 million taken in Q1 for exposure in US airlines.
stock yields over 2.5% the dividend will probably not be increased this year.
EPS 2002 $2.32 2003 $2.35-$2.40 2004 $2.55-$2.70
will post CNR, CP, ENB, ECA, this week.
by the way AC stock doubled at one time to over $1.80, talked about it when it was .98 in the SBC thread; it is starting to go down now. at the end of the day stock will go to zero to much debt taken on in recent years.
know some people who believe it will go to $3, at least in the end they will have the share certificates to hang on their wall.
thanks
selkirk
