Veresen Inc. T.VSN.DB.B

RE:RE:RE:TD Waterhouse still a buy and keeps 11.00 target price

[Beckysboss]

sleapeasy wrote: On the positive side Veresen should be able to maintain dividend as spending on Jordon cove should be eliminated and new projects come online.
I actually like it better now as dilution risks have been mitigated to some degree.

 If you go thru Veresens presentations you will find they intend to get to the 80% POR with the midstream plants that are under construction in the Montney. All of that revenue being recognized in 2018 per their guidance.   The LNG plant portion was out beyond that impact in the 2022 area where they thought at that time they would be able to actually grow the dividend again given the LNG plant.  So depending on how they handle this setback the 80% POR is still in sight ,  the current divvy is ok,  if they reduce expenses on the plant they might get to that POR even quicker.   With $300 mill in expenses associated with Jordan Cove  the last few years that money is meaningful.