Services publics
Les services publics tirent des rendements réglementés d'une base tarifaire croissante et, de plus en plus, d'énergie renouvelable sous contrat. Ce sont des titres de revenu — on évalue la croissance des flux, le rendement des FFO (ou du DCF), la couverture du dividende et le poids de la dette et des dépenses en immobilisations.
Analyses dans Services publics
Brookfield Renewable Partners
One of the world's largest pure-play renewable-power platforms — hydro, wind, solar and now storage — selling long-contracted clean power to fund a growing distribution.
Fortis Inc.
A C$40B+ regulated electric-and-gas utility holding company spanning Canada, the U.S. and the Caribbean, prized for a five-decade dividend-growth streak.
Emera
A rate-regulated electric and gas utility holding company whose steady dividend rests on regulated rate-base growth funded by chronic negative free cash flow.
Hydro One
Ontario's dominant pure-play regulated electricity transmission and distribution utility, with no commodity risk and steady low-to-mid single-digit rate-base growth.
Canadian Utilities
An ATCO-controlled regulated gas and electric utility with Canada's longest dividend-growth streak, where strong cash flow contrasts with sharply depressed headline earnings.
Capital Power
An Alberta-based independent power producer with merchant and contracted generation, offering a high ~4.2% yield but more cyclical, commodity-exposed cash flows than a regulated utility.
Northland Power
A global clean-power developer building large offshore wind projects, currently loss-making at the GAAP line, with reported free cash flow that overstates true self-funding because multi-billion construction spend sits in project-level financing.
Algonquin Power & Utilities
A now pure-play regulated water, gas and electric utility rebuilding its balance sheet and credibility after exiting renewables and cutting its dividend.
TransAlta
An Alberta-centric power generator turning strong free cash flow into buybacks, with data-center demand offering optionality against a merchant-price cyclical core.
Boralex
A Québec-based renewable-power developer in heavy build-out mode, spending ahead of cash flow to grow a contracted wind, solar and storage fleet.