Many Foreign Utilities Are Up Nicely Off March Lows
Foreign utility stocks have performed well similar to the financial sector off the lows attained in March this year.While the financial sector gets most of the media attention due to the stress-tests in the US, bailouts and other events, I wanted to find out how the foreign utility sector was performing since the March lows. The results of my research is displayed below in a simple table below.
Performance of Foreign Utilities since March lows:
| Company | Ticker | Country | Current Price | Growth Since March Low | Dividend Yield as of May8,2009 |
|---|---|---|---|---|---|
| Edenor SA | EDN | Argentina | $5.43 | 86.60% | N/A |
| MetroGAS S.A. | MGS | Argentina | $1.32 | 30.69% | N/A |
| Transportadora de Gas Del Sur S.A. | TGS | Argentina | $2.23 | 36.81% | 2.29% |
| Brookfield Infrastructure Partners L.P. | BIP | Bermuda | $13.53 | 89.23% | 7.83% |
| COMP ENERG CEMIG ADS | CIG | Brazil | $15.53 | 23.25% | 2.20% |
| CPFL Energia S.A. | CPL | Brazil | $48.80 | 39.71% | 7.11% |
| Centrais Electricas Brasileiras S.A. | EBR | Brazil | $13.25 | 36.46% | 2.00% |
| Companhia Paranaense de Energia | ELP | Brazil | $13.55 | 57.56% | 1.16% |
| Companhia de Saneamento Basico do Estado de Sao Paulo | SBS | Brazil | $29.02 | 61.49% | N/A |
| TransAlta Corp. | TAC | Canada | $18.60 | 34.20% | 5.42% |
| TransCanada Corp. | TRP | Canada | $26.38 | 18.62% | 5.01% |
| Consolidated Water Co. Ltd. | CWCO | Cayman Islands | $12.93 | 103.62% | 2.01% |
| Enersis S.A. | ENI | Chile | $15.90 | 17.78% | 4.91% |
| Empresa Nacional de Electricidad S.A. | EOC | Chile | $41.11 | 20.06% | 3.98% |
| A-Power Energy Generation Systems, Ltd. | APWR | China | $10.75 | 258.33% | N/A |
| Huaneng Power International Inc. | HNP | China | $27.54 | 21.59% | 6.17% |
| Veolia Environnement SA | VE | France | $29.07 | 49.38% | 6.50% |
| Korea Electric Power Corp. | KEP | South Korea | $11.90 | 73.72% | N/A |
| Cascal N V | HOO | United Kingdom | $3.50 | 69.08% | 5.14% |
| National Grid plc | NGG | United Kingdom | $43.85 | 19.68% | 4.32% |
As shown in the listing above, many of the stocks are up in double digit percentages.Seven of the stocks have dividend yield of over 5% even after the rise. It must be noted that though Brazilian utilities such as CPFL Energia S.A. (CPL) pay over 7% in dividends, they can be volatile and do not follow consistent payment patterns.However utilties in the developed world such as Veolia Environnement (VE) of France, TransAlta Corp.(TAC) of Canada, National Grid plc(NGG) etc. have relatively safer yields and have great business models.
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