Capstone Infrastructure Corp T.CSE.PR.A

Alternate Symbol(s): CPOIF

Utilities Utilities - Diversified

Capstone Infrastructure Corp is a Canada-based company, which is engaged in owning and operating infrastructure businesses. The Company operates as a power producer that is focused on providing clean, renewable energy to homes and businesses across North America. The Company develops, owns and operates thermal and renewable power generation facilities with a total installed capacity of 570 megawatts across 28 facilities in Canada. It operates wind, hydro, solar, biomass, and natural gas power plants. Its operated facilities include Amherstburg Solar Park, Cardinal Power, Dryden, Erie Shores Wind Farm Fitzpatrick Mountain, Ganaraska, Glace Bay, Glen Dhu, Goulais Wind Farm, Grey Highlands Clean Energy, Grey Highlands, Hluey Lakes, Sechelt, Springwood, Whittington, Napier and Sumac Ridge wind.

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Capstone Infrastructure Corp

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Post by anon314on May 19, 2015 7:09pm

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Post# 23742548

Royal Bank Research Summary

Capstone Infrastructure Corp (CSE) - $3.52 – Potential Upside from Bristol Water regulatory resolution in Q3
RBC CM: Sector Perform (PT $4)
Capstone Infrastructure’s Q1/15 Adjusted EBITDA of $30 million was slightly lower than RBC CM’s estimate of $32 million and consensus of $32 million. The Q1/15 ACFFO/share was $0.08, compared to RBC CM’s estimate of $0.11 and $0.21 in Q1/14. The primary driver for the shortfall was due to wind generation that was 8% below the long-term average. Management reiterated its 2015 Adjusted EBITDA guidance of $115–125 million. Investors remain focused on the outcome of Bristol Water’s regulatory review, and management expects a provisional decision from the CMA in early July. RBC CM believes the outcome will be favourable, which will be the next catalyst for the shares to trade higher.