Latest Reports on Altagas, Canfor, Enbridge, and Gildan Activewear

NEW YORK, NY / ACCESSWIRE / August 23, 2016 / Canadian markets slumped Monday as the loonie dropped against the U.S. dollar in early trading. The S&P/TSX Composite Index hit a low of 14.616.91 early Monday before settling to close at 14,748.19, up 0.41 percent. The benchmark index saw a decline of 0.4 percent last week. The S&P/TSX Venture Composite Index touched a low of 819.15 before settling to close at 820.24, down 1.54 percent. Lower oil and precious metal prices saw the loonie fall by as much as 0.59 percent from Friday’s close. Gold for December delivery fell $3.30 to US$1,342.90 an ounce in trading Monday, while September copper contracts fell $0.02 to US$2.14 a pound. Register with us now for your free membership and gain access to our latest reports at: www.rdinvesting.com/subscribe-today/.

Altagas Ltd. (TSX: ALA)

Get Your Up-To-Date Altagas Research Report at www.rdinvesting.com/company/ALA.

Altagas’ shares increased 0.61 percent to close at $34.92 a share Monday. The stock traded between $34.50 and $34.95 on volume of 364,482 shares traded. ON August 16th, the company announced that its subsidiary, AltaGas Pomona Energy Storage Inc., has signed a 10-year energy storage resource adequacy purchase agreement (ESA) with Southern California Edison for 20 megawatts of energy storage at its Pomona facility. Shares of Altagas have gained approximately 13.0 percent year-to-date and are up roughly 5.9 percent in the past month.

Canfor Corporation (TSX: CFP)

Get Your Up-To-Date Canfor Research Report at www.rdinvesting.com/company/CFP.

Canfor’s shares declined 1.41 percent to close at $14.68 a share Monday. The stock traded between $14.33 and $14.90 on volume of 173,695 shares traded. The company reported a shareholder net income of $36.0 million, or $0.27 per share, for the second quarter of 2016, compared to shareholder net income of $26.0 million, or $0.20 per share, for the first quarter of 2016 and shareholder net income of $11.1 million, or $0.08 per share, for the second quarter of 2015. Shares of Canfor have fallen approximately 27.3 percent year-to-date and are down roughly 4.6 percent in the past month.

Enbridge Inc. (TSX: ENB)

Get Your Up-To-Date Enbridge Research Report at www.rdinvesting.com/company/ENB.

Enbridge’s shares declined 0.88 percent to close at $53.05 a share Monday. The stock traded between $52.89 and $53.45 on volume of 1.29 million shares traded. On August 2nd, the company and Enbridge Energy Partners, L.P. announced an agreement to acquire a 49-percent interest in the holding company that owns 75 percent of the Bakken pipeline system from an affiliate of Energy Transfer Partners LP and Sunoco Logistics Partners LP. Shares of Enbridge have gained approximately 15.3 percent year-to-date and are up roughly 0.5 percent in the past month.

Gildan Activewear Inc. (TSX: GIL)

Get Your Up-To-Date Gildan Activewear Research Report at www.rdinvesting.com/company/GIL.

Gildan Activewear’s shares declined 0.31 percent to close at $38.80 a share Monday. The stock traded between $38.72 and $39.05 on volume of 342,736 shares traded. The company reported net sales were $688.9 million for the second quarter of 2016, a decrease of 3.5 percent when compared to a year ago. Adjusted Earnings per Share was $0.41 for the second quarter, a decrease of 2.4 percent when compared to a year ago. Results fell short of analysts’ expectations of sales of $693.6 million and adjusted EPS of $0.42. Shares of Gildan Activewear have fallen approximately 1.4 percent year-to-date and are down roughly 5.9 percent in the past month.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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