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 Q2-2018 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 $6.8B 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 1,00MW of owned generation capacity in advanced development in Alberta, North Dakota (Frontier Wind) and Illinois. The 99MW Frontier Wind project is North Dakota is expected to come on stream in Dec-2018, the 298MW Whitla Wind Facility in 50/50 partnership with Alberta first nations. Phase One for 202MW and will be completed in Q4-2019 and the 150MW Cardinal Wind in Illinois in Mar/2020. The balance of the forecast 600MW capital projects is mainly natural gas facilities in Alberta that are pending final investment decision.

As of Jun-30-2018 they owned 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 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

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