BMO BMO Capital Markets analyst Ben Pham previewed earnings for the dividend-heavy energy infrastructure sector,
“Q4/23 earnings season kicks off on February 2 with BEP [Brookfield Renewable Partners] first out of the gate. Following our analysis of public data sources, proprietary models, and detailed discussions with our coverage, we point to notable potential Q4/23 beats from TRP [TC Energy Corp], BLX [Boralex Inc.], and H [Hydro One Ltd.] and potential quarterly misses from TA [Transalta Corp.], BEP, and EMA [Emera Inc.] and would position ahead accordingly. Looking to our 2024 set-up in Canadian Energy Infrastructure, our preference remains utilities over pipelines and our recently updated Top 5 Best Idea roster is unchanged (NPI [Northland Power Inc], ALA [AltaGas Ltd.], PPL [Pembina Pipeline], AQN [Algonquin Power] , and ACO.X[Atco Ltd])”