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Summary
- Many companies are taking numerous initiatives to engage in renewable energy and technology infrastructure.
- A Canadian utility stock climbed about 45 per cent over the past year.
- A water treatment firm is set to pay its monthly dividends of US$ 0.024 on August 31.
As the world combats the evils of climate change, many companies are taking numerous initiatives to engage in renewable energy and technology infrastructure.
The Canada government has been quite vocal and proactive about its climate change goals. In this light, it is likely that companies focused in renewable resources could gain momentum in the future.
On that note, let us look at the stocks of a few Canadian enterprises that are combating climate change.
- Greenlane Renewables Inc (TSX:GRN)
Greenlane Renewables engages in the task of producing renewable natural gas from organic waste products collected from dairy farms, water treatment plants, etc.
The renewable company held a market cap of C$ 240 million and a closing stock price of C$ 1.6 on August 9, 2021, trading about 336 per cent above its 52-week low of C$ 0.36 apiece (August 21, 2020).
Greenlane Renewables posted a revenue of C$ 12.2 million in the first quarter of fiscal 2021, which was significantly up from that of C$ 2.9 million in Q2 FY2020. Its net loss was C$ 0.2 million in the latest quarter.
The company undertook new contracts worth a total value of C$ 3.6 million in the same quarter.
Greenlane holds a price to book (P/B) ratio of 4.3
- TransAlta Renewables Inc. (TSX:RNW)
TransAlta Renewables, an electric utility company with a market cap of about C$ 5.9 billion, saw its stocks surge by nearly 30 per cent in the last nine months.
The utility scrip climbed about 45 per cent over the past year and closed at C$ 22.4 apiece on August 9.
TransAlta pays a monthly dividend of C$ 0.078 apiece, which is set to be paid next on August 31.
The Canadian power company posted a revenue of C$ 126 million in Q1 FY2021, up from C$ 110 million in Q1 FY2020. Its net earnings stood at C$ 52 million in the latest quarter.
TransAlta Renewables Inc holds an earnings per share (EPS) of 0.52 and P/B ratio of 2.7.
- Global Water Resources Inc. (TSX:GWR)
Global Water Resource is a utility company that manages wasted and recycled water in several communities. Its stock closed at C$ 22.05 apiece on August 9, trading about 58 per cent above its 52-week low of C$ 14 (November 5, 2020).
The firm pays monthly dividends of US$ 0.024, scheduled to be distributed on August 31 next.
Global Water Resources Inc posted a revenue of US$ 10.9 million in Q2 FY2021, up by 10.7 per cent year-over-year (YoY). Its net income was US$ 2 million in the same quarter.
It holds a P/B ratio of 13.11 and a debt to equity (D/E) ratio of 3.75.
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- Xeber Adsorption Inc (TSX:XBC)
Xeber Adsorption, which develops industrial products used to clean gases, saw its stocks close at C$ 3.68 apiece on August 9, with a market cap of C$ 565 million.
It registered a revenue of C$ 20.6 million in Q1 FY2021, up from C$ 12.2 million in Q1 FY2020. Its net loss was C$ 9.2 million in the quarter ending March 31, 2021.
- Innergex Renewable Energy Inc (TSX: INE)
Innergex Renewable, an independent clean energy manufacturer in Canada, pays quarterly dividends of C$ 0.18 apiece to its shareholders.
Its stock, which closed at C$ 20.54 on August 9, climbed by about two per cent in the last three months. However, it decreased by nearly 25 per cent on a year-to-date basis.
Innergex stock was trading about 12 per cent above its 52-week low of C$ 18.37 (May 12, 2021). Its P/B ratio stood at 5.5 and its D/E ratio was 7.38.
- Algonquin Power & Utilities Corp. (TSX: AQN)
The C$ 12.3-billion market cap utility company pays quarterly dividend of US$ 0.171, last distributed on July 15 this year. The dividend holds a five-year growth rate of 9.29.
Algonquin Power stock, which closed at C$ 19.99 on August 9, spiked by roughly 11 per cent in the past year and increased by eight per cent on a quarter-to-date basis.
The power and utilities firm recorded revenues of US$ 634.5 million in Q1 FY2021, up 36 YoY. Its net earnings was C$ 13.9 million in the same quarter. It holds an EPS of 1.97 and a return on equity (ROE) of 19.29 per cent.
- Brookfield Renewable Partners L.P. (TSX: BEP.UN)
Brookfield Renewable focusses on the generation of power from clean sources like wind, solar, hydroelectricity, etc. in several geographies. The company held a market cap of about C$ 13 billion after its shares closed at a value of C$ 48.64 on August 9.
BEP.UN stock was up by about 28 per cent from its 52-week low of C$ 38.15 (August 19, 2020). Its P/B ratio was 2.4 and D/E ratio was 4.3.
The Canadian firm is scheduled to pay a quarterly dividend of US$ 0.304 apiece on September 29.
