The
Canadian market has had a relatively good start to the year buoyed by stronger
energy and precious metal prices and advances in the Health Care and
Information Technology sectors. Weakness in the emerging markets and Asia
reflect investor concerns as to the sustainability of the recovery despite
evidence of continued improvement in the US and greater stability in the
Eurozone.
Cenovus Energy Inc. (TSX: CVE,
Mkt cap 22.22B, P/E 33.63, Div/yield 0.27/3.62, EPS 0.87, Shares 756.12M) is an
integrated oil and gas company focused on the development of bitumen assets in
Alberta with significant joint venture operations at Foster Creek and Christina
Lake.
Fortis Inc. (TSX: FTS,
Mkt cap 6.54B, P/E 18.82, Div/yield 0.32/4.17, EPS 1.63, Shares 213.16M) is the
largest investor owned gas and electric distribution utility in Canada with
operations in the US and Belize. Over the next few years, Fortis is
expected to significantly increase its rate base.
Enercare Inc. (TSX: ECI,
Mkt cap 607.93M, P/E 347.01, Div/yield 0.06/6.69, EPS 0.03, Shares 58.46M) is
focused on the securitizing and renting of water heaters and sub-meters
(primarily in multi-residential buildings).
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