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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: The fixed income portion of my portfolio is largely made up of high yield corporate Canadian bonds. Infrequently, during the past decade or so, a company will exercise its right to "call" one of my bonds, and an early redemption occurs. This past week, however, a high number of companies have called their bonds, many to be redeemed next month. The companies include Parkland Fuel, Russel Metals, Cascade, Air Canada, Superior Plus, Laurentian Bank, Sobeys, Cameco and Brookfield Asset Management. I am very puzzled as to why so many different bonds are being called at the same time? I also want to endorse a recent comment made by Lance about Hank Cunningham's book, which as very helpful in my early bond-investing days.
Read Answer Asked by Jim on February 22, 2019
Q: Hello Peter & Ryan, I am wondering why Crius simply said it received another unsolicited offer by a second company that was superior to the first one and offered that to explain the increase in the purchase price of the first offer. Do you find it unusual for Crius not to give us (the shareholders) the details of this second offer? Who was it from, was it all cash, was it a combination of cash and shares in their company etc... Maybe this information war released and I missed it? Thanks.
Mario.
Read Answer Asked by Mario on February 21, 2019
Q: I've held ALA for many years. Unfortunately I didn't get rid of it when they bought WGL. My question is about the % of revenue (or net income) that is expected from "utilities" and "energy infrastructure". Before the take over, they were about 60% energy infrastructure and 40% utilities. I can't find any information on the the proportions going forward.
Many thanks!
Read Answer Asked by Brian on February 21, 2019
Q: Good Morning
Raymond James lowered their IPL target to $20 from $23 today with an underperform rating. The Street target is $25.
Do you foresee another fiasco with a substantial dividend cut like we saw with Alberta Gas? Would you recommend holding the stock or selling?
Thanks


Read Answer Asked by Terry on February 21, 2019
Q: Good Morning

According to my broker's website IPL insiders performed the following transactions on December 31, 2018:

NATURE OF TRANSACTION SECURITY PRICE
Rights Exercise Rights Restricted Share Units $19.18

Over 140,000 share units were involved

Can you please explain as to what these transactions are all about ? Are they rights not exercised? Further are these transactions positive with respect to the activities of the insiders?

In general what is your opinion with respect to the activities of the IPL insiders?
Thank you as always for your insight.

Read Answer Asked by Terry on February 20, 2019
Q: I hold about 3% in XHY and CPD in a registered account. I'm wondering if selling those and moving to XTR would be a prudent move? XTR adds diversification beyond the two I currently hold.

Thanks....
Read Answer Asked by Ronald on February 20, 2019
Q: Hi Peter and Staff
You have been generally positive on BPY.UN -when it got down near $20 I averaged down and with the price jump have been feeling good about that - I have looked at scotia’s recent analysis of the most recent quarter . I own a lot of different REITS and it is the only one they show with an AFFO payout ratio of over 100% up to and including 2020- I know you can calculate things differently but assuming they use the same metrics on all REITS this is the worst one? Comments and analysis are appreciated
Thanks for all you do
Dennis
Read Answer Asked by Dennis on February 20, 2019
Q: Hello -
I currently own BIP.UN, BEP.UN and BPY.UN in a CAD RRSP account. These three stocks pay dividends in USD. I do already have a USD RRSP account that holds American stocks. Would it make sense to move these three Brookfields to the USD account to avoid the exchange conversion fee when I receive quarterly dividends? I don't believe there is any issue in holding Canadian stocks in a U.S. account.

Thanks.
Read Answer Asked by James on February 20, 2019
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