Earnings
January 18, 2019 - MKP
New! MCAN Mortgage Corp. -Q3-2018 Earnings & Price Target Update .....
January 17, 2019 - AI
Atrium Mortgage Investment Corp. Q3-2018 Earnings -Price Target Forecast .....
January 16, 2019 - FC
Firm Capital Mortgage Investment Corp. Q3-2018 Earmings - Price Target Fore .....
January 15, 2019 - SJR.B
Shaw Communications Inc. Fiscal Q1-2019 Earnings & Price Target Forecast .....
January 13, 2019 - CRT.UN
CT Real Estate Investment Trust - Q3-2018 Earnings & Price Target Forecast .....
January 12, 2019 - NVU.UN
Northview Apartment REIT-Q3-2018 Earnings & Price Target Forecast .....
January 11, 2019 - GRT.UN
Granite REIT- Q3-2018 Earnings & Price Target Forecast .....
January 10, 2019 - RUF.UN
Pure Multi Family REIT - Q3-2018 Earnings, Price Target Forecast .....
Recommendation Changes
MKP, AI, RUF.UN, HOT.UN, BPY.UN, more...

Capital Power Q1-2018 Earnings & Price Target Update

This is only a sample of the article, please login to view the entire article

Capital Power (TSX:CPX) is a North American power producer headquartered in Edmonton owning 4,500MW of power generation capacity and $6.9B in power generation and related assets. This includes acquisitions of the Ontario natural gas-fired generation assets from Veresen in Q2-2017 for $499M, Decatur Energy acquisition in Jun-2017 for $603M and completion of the Bloom Wind Project in the US in Jun-2017 for $250M. There is 800MW of owned generation capacity in advanced development in Alberta and North Dakota(Frontier Wind) of which 99MW is expected to come on stream in Dec-2018. They are in the permitting process for the 298MW Whitla Wind Facility in 50/50 partnership with Alberta first nations. Phase One is 202MW and will be completed in Q4-2019. The balance of the forecast 500MW capital projects is mainly natural gas facilities in Alberta that are pending final investment decision.

As of Dec-31-2017 they own interests in 24 facilities. Facilities in Canada comprise 74% of capacity and 26% in the US. Alberta comprises 53% of total capacity, Ontario – 12%, BC-9%, and US -26%. Coal facilities comprise 34%, natural gas 50% and the balance is wind powered with a bit of solar at 16%. Contracted revenues comprise 66% of capacity with the balance sold at current market prices. Hedging has made a significant improvement to prices earned over the past 8 years. Approximately 30% of total capacity is coal fired and located in Alberta, of which two thirds is contracted until 2020. This portion of the Alberta production is subject to an off-coal agreement with the Alberta government that will pay $52M ($0.40 per share after tax) until 2030. They plan to convert the Alberta coal fired facilities to natural gas using the same boilers converted to a different fuel source.

Following the purchase of the Decataur Energy Centre in Jun-2017 and completion of the Bloom Wind project they will have 1,172MW of capacity in the US mainly natural gas and wind powered, about 26% of capacity.

You must be a member to view the entire article, please subscribe or login


Login
Username
Password
New Issues & Acquisition
January 18, 2019
New! Coverage Universe - Weekly Price Changes - Jan 11-18, 2019
January 17, 2019
New! TD Bank Preferred Share 5.2% Rate Reset New Issue
January 14, 2019
New! CIBC 5.2% Rate Reset Preferred Share New Issue
January 11, 2019
Coverage Universe - Weekly Price Changes - Jan 4-11, 2019
January 4, 2019
Coverage Universe - Weekly Price Changes - Dec 28 - Jan 4, 2019
December 28, 2018
Coverage Universe - Weekly Price Changes - Dec 21-28, 2018
December 21, 2018
Coverage Universe - Weekly Price Changes - Dec 14-21, 2018
December 14, 2018
Coverage Universe - Weekly Price Changes Dec 7-14, 2018