The Canadian renewable energy stocks we’ve discovered are worth watching in 2019
SmallCapPower| April 22, 2019: Renewable energy companies focus on providing clean and sustainable sources of power. There are various methods for producing renewable energy, which is generated from solar, wind, geothermal, hydroelectric (from the ocean or waterwheels), or hydrogen plants. Companies in this industry tend to be mature and have a well-established presence in the space. As a result, they provide investors with stable cash flows and sturdy growth. That being said, today we have identified four Canadian renewable energy stocks with the potential to generate great future returns.
*Share prices as at April 17, data obtained from S&P Capital IQ
Sharc International Systems Inc. (CSE:SHRC) – $0.265
Renewable Energy Systems
Sharc International Systems specializes in wastewater heat exchange products and services. The Company provides SHARC wastewater heat recovery systems for space heating and cooling, as well as the Piranha wastewater heat recover systems. The Company employs methods that recycle and generate thermal energy from waste water for residential, commercial, and industrial buildings. On March 29, the Company announced a $5M private placement of convertible debentures.
- Market Cap: $10.3 Million
- YTD Total Return: -11.7%
- 30-Day Average Daily Volume: 29,000
- 90-Day Average Daily Volume: 45,000
Pattern Energy Group Inc. (TSX:PEGI) – $29.90
Renewable Electricity Producers
Pattern Energy Group operates as an independent power company with a portfolio of 24 renewable energy projects. The Company’s operating capacity totals approximately 4GW in Canada, the United States, and Japan. The Company’s wind and solar power facilities use best-in-class technology and generate stable cash flows, providing a solid foundation for business growth. On March 1, Pattern Energy announced Q4/18 and FY18 results and declared a dividend of $0.42 per Class A common share for Q1/19.
- Market Cap: $2.9 Billion
- YTD Total Return: +17.7%
- 30-Day Average Daily Volume: 31,000
- 90-Day Average Daily Volume: 53,000
Innergex Renewable Energy Inc. (TSX:INE) – $14.11
Renewable Electricity Producers
Innergex Renewable Energy develops, acquires, owns, and operates hydroelectric facilities, wind & solar farms, and geothermal power plants. The Company operates in Canada, the United States, France, Chile, and Iceland, and manages a portfolio of assets with interests in 68 operating facilities. The Company’s operations have an aggregate net installed capacity of 2,082, composed of 27 hydroelectric plants, 25 wind farms, four solar farms, and two geothermal facilities. On March 25, the Company announced its intention to sell 100% of its interest in Icelandic assets for US$304.8M.
- Market Cap: $1.9 Billion
- YTD Total Return: +12.5%
- 30-Day Average Daily Volume: 191,000
- 90-Day Average Daily Volume: 266,000
Northland Power Inc. (TSX:NPI) – $23.53
Renewable Electricity Producers
Northland Power develops, builds, owns, and operates sustainable energy facilities, including natural gas, wind, solar, and hydro power. The Company has interests in, or owns, 2,429 MW of operating generating capacity with an addition 269 MW under construction. On February 22, the Company reported financial results for Q4/18 and FY18, posting revenue of $1.6B, a 13% uptick on a y/y basis.
- Market Cap: $4.2 Billion
- YTD Total Return: +8.4%
- 30-Day Average Daily Volume: 1,115,000
- 90-Day Average Daily Volume: 724,000
Ubika Research/SmallCapPower has received compensation from Sharc International Systems Inc.(CSE:SHRC) to provide analyst research coverage. For full disclosure please visit here >>
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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