earnings,info and recent news on some stocks

[selkirk]

here is some news and info on some stocks that have been talked about in the fourm in the past.

$1US=$1.50 most of these stocks trade in the US.

Brookfield
occupany declined to 96.1% in Q2 from 97.4% last year.
portfolio property revenue should increase by 5-6%.
only 9% of the leases come due before 2005, which is good considering NY office market is weak.
Brookfield average rent (lease) $21per square ft. where the average is $26.
Brookfield will continue to look at either selling (IPO), or keeping the housing and land division which brought in $26 million compared to $23 million a year ago, they feel the division is given no value inside the company.

the company has not moved since posted but has held up well in a weak market, target $35 cdn. pays a 2% yield and is safe. trades TSX,NYSE.


Enbridge
is a cdn. pipeline company with assets in Cdn. and the US. came in with earnings of $1.36 cdn. operating higher than $1.28. from last year.

Enbridge earnings should come in at $2.75, and over $3 cdn. in 2003. dividends should also grow from $1.40 in 2001 to over $1.60 in 2003.

Enbridge has lowered their debt and that should continue, suggested this for conservative investors over a year ago at around $42cdn. now over $45, nothing exciting, but stable returns, and a good yield 3%+ is not bad in this market.

defensive stock and may suffer a sell off if there was a strong bull market (remember those,...lol) still a stock that is worth owing in the future.

will review Enbridge partnership later.


CNR (CNI) Cdn. National Railway.

earnings came at $1.39 compared to $1.30 last year. this was mainly due to Wisconsin Central ( a very good acquistition)

the operating ratio slipped to 68.4% from 68.2% (lower the number the better) due to higher labour costs and equipment rents. lower fuel costs help to offset these higher costs.

grain fertilizer, metals and minerals, coal, were lower. automotive, intermodal, forest products, petroleum/chemicals were higher. Revenue was up 11%, if Wisonsin central is taken out it was up 1%.

Wisconsin Central should contribute .25-.30 earnings a share this year and up to .50 per share in year 2.

CNR should make around $5.40 cdn. this year and $6 next year 2003. like most railways it depends on how the economy does but trading at 13X earnings and yield over 1%. it provides decent value.

yesterday closed at $73.90 cdn. would consider adding my position at $70. target $80 (maybe $85)

Russel Metals trade in Cdn. on the TSX RUS

this stock is a cheap small cap,
yields 5%
has $47 million in cash, market cap of only $181 million.
made .22 this quarter, trades at 10X earnings this year.
book value $5.50
the stock is rarely mentioned anywhere and is CHEAP!

own some, target $5.50 maybe higher if people fall in love with it, or it gets more coverage. cheap stock...(oh...said that...cheap)

more updates later.

thanks
selkirk

 

[selkirk]

some more recent news on some stocks metioned
$1.50 = $1US all stocks trade on NYSE/TSX

Encana recently bought Williams (WMB) interest in the Jonah Field (Wyoming) natural gas for $539 million cdn. this acquistion increases Encana position in the field to 50%.

Encana since their first acquistion in 2000 has done now six, these acquisitions have added over 2.2 TCF of proven gas reserves and over 1.3 million acres of explorataion.

this transaction should add around .18-.20 cents in cash flow in 2003. Encana is thought to have bought the property for anywhere from 10-20% discount due to Williams debt troubles and having to sell assets. Williams got a fair price but if they were in a better position perphaps could have sold it for 20% more if natural gas prices were better and they could wait.

Encana earning 2001 $4.94 2002 $2.15 2003 $3.20

Encana cashflow 2001 $8.76 2002 $7.50 $2003 $9

Encana pays a small div. prospects for the company are good however depend on price of oil and natural gas. believe oil could fall to $20-$22 and natural gas to remain flat.

do not believe US will attack Iraq in 2002.

if Encana pulls back would build up my position in the company. great reserves, growing production 10-15% per year. and good management.

as for Williams this comapany should be a case study of how management can destroy a great company, and also when they make a mistake not act until it is far to late. sometimes you wish a company could be run by a four year old, in Williams case it would be an improvement.

why they never did this sale when the stock climb above $20 from $14 is something I will never know. probably got a better price, also along with the sale should have done an equity issue as the stock was rising. every brokerage had buys on it, and believe they could have done one, the size would be the question. this could have saved their credit rating. which had to be their first priority. just terrible management.

thanks
selkirk