Week in Review 44/22

 

Welcome and thanks for reading!

In this review, I will make a summary of important and interesting news and events over the last week related to my portfolio holdings. Also, I will put together some interesting articles from other websites that caught my attention during the past week.

 

 

Received Dividends:

 

 

October 31, 2022

 

• € 25.82 – Edison International (EIX)
• € 14.20 – LTC Properties, Inc. (LTC)
• € 94.07 – The Bank of Nova Scotia (BNS)
• € 89.15 – The Toronto-Dominion Bank (TD)
• € 64.32 – Canadian Imperial Bank of Commerce (CM)
• € 67.62 – TC Energy Corporation (TRP)

 

November 1, 2022

 

• € 214.61 – Telia Company (TELIA)
• € 72.25 – AT&T Inc. (T)
• € 101.94– Verizon Communications Inc. (VZ)
• € 28.12– General Mills, Inc. (GIS)
• € 32.14– Bristol-Myers Squibb Company (BMY)
• € 48.02– CVS Health Corporation (BMY)
• € 31.51– Power Corporation of Canada (TSE:POW)

 

Week 44: Total net dividends € 883.77

 

Dividend income is reported after the deduction of taxes. Check more at my Monthly Dividend sheet.

 

 

My Portfolio's Transactions:

 

 

November 3, 2022

 

• I purchased 30 shares of Enbridge Inc. (ENB) at C$53.59 per share plus commission.

 

November 4, 2022

 

• I purchased 10 shares of Medifast, Inc. (MED) at $97.37 per share plus commission.

 

 

Portfolio Holdings News:

 

 

October 31, 2022

 

• WEC Energy Group, Inc. (WEC) to acquire 80% ownership of Maple Flats Solar Energy Center; WEC announced that the company has agreed to acquire an 80% ownership interest in the Maple Flats Solar Energy Center in Illinois. The Maple Flats Solar Energy Center is a 250-megawatt project.  The site will host 800,000 solar panels across 1,500 acres. Commercial operation is expected in early 2024.

 

• Sikorsky Aircraft, part of Lockheed Martin Corporation (LMT) is awarded a not-to-exceed $280.95M firm-fixed-price modification (P00004) to a previously awarded contract (N0001922C0004).

 

• Emerson Electric Co. (EMR) to Sell Majority Stake in Climate Technologies to Blackstone; EMR announced a definitive agreement under which it will sell a majority stake in its Climate Technologies1 business to private equity funds managed by Blackstone in a transaction valuing Climate Technologies at $14.0 billion. EMR will receive upfront, pre-tax cash proceeds of approximately $9.5 billion while retaining a non-controlling ownership interest in a new standalone joint venture.

 

• Emerson Electric Co. (EMR) Reports Fourth Quarter and Full Year 2022 Results; EMR reports Non-GAAP EPS of $1.53, beating analyst estimates by $0.14 and increased 16% year-over-year. Revenue of $5.36 billion beats analyst estimates by $30 million and increased 8.3% versus the same quarter last year. EMR declared increase of quarterly cash dividend to $0.52 per share of common stock payable December 9, 2022 to stockholders of record November 11, 2022. Management expects for FY2023 net sales to grow in the range of 7% to 9% and adjusted EPS from continuing operations to be in the range of $4.00 to $4.15.

 

• Aflac Incorporated (AFL) Announces Third Quarter Results; AFL reports Non-GAAP EPS of $1.15, missing analyst estimates by $0.07 and decreasing 24.8% year-over-year. Revenue decreased 8% to $4.82 billion, $240 million more than expected. Total investments and cash at the end of September 2022 were $114.5 billion, compared with $146.0 billion at September 30, 2021.

 

November 1, 2022

 

• NCC AB (NCC) reports third-quarter results; NCC reports EPS of SEK 4.13, beating analyst estimates by SEK 1.32 albeit decreasing 37% year-over-year. Revenue decreased 3.2% to SEK 14,068 million, which was SEK 1,111 million more than expected.

 

• WEC Energy Group, Inc. (WEC) reports third-quarter results; WEC reports GAAP EPS of $0.96, beating analyst estimates by $0.10 and increased 4.35% year-over-year. Revenue grew 14.3% to $2 billion, topping estimates by $190 million. Management is narrowing its 2022 earnings guidance to $4.38 to $4.40 per share.

 

• Avista Corporation (AVA) Reports Financial Results for the Third Quarter; AVA reports GAAP EPS of -$0.08, missing analyst estimates by $0.22. Revenue grew 21.9% to $ 349.65 million, topping estimates $ 39.42 million. Management is lowering its 2022 consolidated earnings guidance by $0.05 per diluted share to a range of $1.88 to $2.08 per diluted share. Management is also lowering our 2023 consolidated earnings guidance by $0.15 per diluted share to a range of $2.27 to $2.47 per diluted share.

 

• Edison International (EIX) Reports Third Quarter 2022 Results; EIX reports Non-GAAP EPS of $1.48, in line with expectations and decreasing 12.4% year-over-year. Revenue of $5.23 billion beats analyst estimates by $16 million but decreased 1.3% versus the same quarter last year. Management narrows 2022 EPS guidance to $4.48–4.68 vs. prior range of $4.40-$4.70. Also reiterates long-term EPS growth rate target of 5–7%.

 

• ONEOK, Inc. (OKE) Reports Third Quarter 2022 Results; OKE reports GAAP EPS of $0.96, in line with expectations and increasing 9.1% year-over-year. Revenue of $5.91 billion misses analyst estimates by $21 million but increased 31.1% versus the same quarter last year. Management expects a more than 10% increase in 2023 net income and adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA), compared with its 2022 guidance midpoints.

 

• Johnson & Johnson (JNJ) to Acquire Abiomed; JNJ has agreed to acquire cardiac pump maker Abiomed, Inc.  for an upfront payment of $380.00 per share in cash, in addition to a CVR under which they can receive up to $35.00 per share in cash if certain milestones are reached.

 

• Pfizer Inc. (PFE) Reports Third Quarter 2022 Results; PFE reports Non-GAAP EPS of $1.78, beating analyst estimates by $0.38 and increased 40% year-over-year. Revenue of $ 22.6 billion beats analyst estimates by $1.5 billion albeit decreased 6.2% versus the same quarter last year. Management raises Lower End of Full-Year 2022 Revenue Guidance to a Range of $99.5 to $102.0 Billion from prior outlook of $98B-$102B and Raises and Narrows Full-Year 2022 Adjusted Diluted EPS Guidance from $6.30 to $6.45 to $6.40 to $6.50.

 

• Triton International Limited (TRTN) Reports Third Quarter 2022 Results and Raises Quarterly Dividend; TRTN reports Non-GAAP EPS of $2.88, a 18.5% increase from the previous year and $0.09 higher than expected. Revenue increased 6.1% to $ 424.7 million, $ 3.48 million more than expected. TRTN increased its quarterly common share dividend by $0.05 to $0.70 per share, payable on December 22, 2022 to shareholders of record as of December 8, 2022.

 

• Lockheed Martin Corporation Space (LMT) awarded a $581.18M fixed-price-incentive-fee, cost-plus-incentive-fee, and cost-plus-fixed-fee modification (PZ0001) to previously awarded and announced un-price letter contract N0003022C0100 for Trident II (D5) missile production and deployed systems support.

 

• Emerson Electric Co. (EMR) Completes the Sale of the InSinkErator Business; EMR announced it has completed the previously announced sale of its InSinkErator business to Whirlpool Corporation (NYSE: WHR) for $3.0 billion.

 

• Eaton Corporation plc (ETN) Reports Third Quarter 2022 Results; ETN reports Non-GAAP EPS of $2.02, beating analyst estimates by $0.01 and increased 15% year-over-year. Revenue grew 8.2% to $ 5.3 billion, missing estimates $ 10 million. For the fourth quarter of 2022, management anticipates organic growth of 13-15% and adjusted earnings per share of between $2.00 and $2.10.

 

• Prudential Financial, Inc. (PRU) Announces Third Quarter 2022 Results; PRU reports third quarter Non-GAAP EPS of $2.13, a 43.7% decline from last year but $0.11 ahead of estimates. Book value per Common share of $44.15 versus $160.29 per share for the year-ago quarter; adjusted book value per Common share of $102.26 versus $106.85 per share for the year-ago quarter. Assets under management of $1.350 trillion versus $1.727 trillion for the year-ago quarter.

 

• Unum Group (UNM) Reports Third Quarter 2022 Results; UNM reports third quarter Non-GAAP EPS of $1.51, a 46.6% above from last year and $0.10 ahead of estimates. Revenue of $2.96 billion misses analyst estimates by $30 million and decreased 0.3% versus the same quarter last year. Management continues to anticipate an increase in after-tax adjusted operating income per share of 40 percent to 45 percent relative to full-year 2021.

 

November 2, 2022

 

• Sampo plc (SAMPO) Reports Results for January–September 2022; SAMPO reports third quarter EPS of € 0.58, a 37.6% decrease year-over-year but € 0.02 ahead of estimates. Profit before taxes decreased to €407 million from €632 million in the comparison period. Analysts had expected a result of €403 million. In the comparison period, Sampo still owned a slice of Nordea and also recorded capital gains on the sale of Nordea's stake.

 

• QUALCOMM Incorporated (QCOM) Announces Fourth Quarter and Fiscal 2022 Results; QCOM reports Non-GAAP EPS of $3.13, a 23% increase from the previous year and in line with expectations. Revenue grew 22.1% to $ 11.4 billion, topping estimates $ 40 million. Management expects Q1 GAAP EPS of $1.72-$1.92, non-GAAP EPS of $2.25-$2.45.

 

• Brookfield Infrastructure (BIP, BIPC) Reports Third Quarter Results; BIP reports third quarter FFO EPS of $0.68, 15.3% above last year's result and $0.01 more than expected. Revenue of $3.63 billion increased 23.5% versus the same quarter last year.

 

 

• CVS Health Corporation (CVS) reports third quarter results; CVS reports third quarter Non-GAAP EPS of $2.09, 6.09% over last year's result and $0.10 higher than expected. Revenue improved 10% to $81.2 billion, $4.42 billion higher than expected. For full year 2022 management raised Adjusted EPS guidance range to $8.55 to $8.65 from $8.40 to $8.60 and raised cash flow from operations guidance range to $13.5 billion to $14.5 billion from $12.5 billion to $13.5 billion.

 

• Main Street Capital Corporation (MAIN) Increased Dividend and Announces Supplemental Dividend; MAIN announce that its Board of Directors declared regular monthly cash dividends of $0.225 per share for each of January, February and March 2023. These monthly dividends represent a 2.3% increase from the regular monthly dividends declared for the fourth quarter of 2022 and a 4.7% increase from the regular monthly dividends paid in the first quarter of 2022. In addition to the regular monthly dividends for the first quarter of 2023, the Board of Directors declared a supplemental cash dividend of $0.10 per share payable in December 2022.

 

• Nutrien Ltd. (NTR) Reports Third Quarter 2022 Results; NTR reports Non-GAAP EPS of $2.51, an 82% increase from the previous year. Revenue increased 36% to $8.19 billion, which was $490 million less than expected. Management revised full-year 2022 adjusted EBITDA guidance and adjusted net earnings per share guidance to $12.2 to $13.2B and $13.25 to $14.50 per share from prior guidance of $14B to $15.5B and $15.80 to $17.80 per share.

 

• Omega Healthcare Investors, Inc. (OHI) Reports Third Quarter 2022 Results; OHI reports third quarter FFO of $0.76, a 10.6% decline from last year but $0.02 ahead of estimates. Revenue of $ 239.43 million beats analyst estimates by $ 23.52 million but decreased 15% versus the same quarter last year.

 

• Realty Income Corporation (O) Announces Operating Results for the Three and Nine Months Ended September 30, 2022; O reports third quarter FFO of $0.98, 7.7% higher than last year but $0.01 under of estimates. Revenue grew 70.9% to $ 837.3 million, topping estimates $ 27.03 million. Management guides FY 2022 AFFO of $3.87-$3.94 from prior guidance of $3.92-$4.05.

 

November 3, 2022

 

• NextEra Energy, Inc. (NEE) to build renewable natural gas plant in Alabama; NEE announced plans to build the first landfill renewable natural gas (RNG) production facility in the state of Alabama. The project will be located at a landfill owned and operated by Coffee County and interconnect with a pipeline owned by Southeast Gas, the leading gas utility in the region. All of the gas from the project will be sold to Southeast Gas under a long-term contract.

 

• Pinnacle West Capital Corporation (PNW) Reports 2022 Third-Quarter Results; PNW reports GAAP EPS of $2.88, beating analyst estimates by $0.28 albeit decreasing 4% year-over-year. Revenue increased 12.2% to $ 1.47 billion, which was $ 160 million more than expected.

 

• ConocoPhillips (COP) Reports Third-Quarter 2022 Results and Announces Increase to Quarterly Dividend; COP reports Non-GAAP EPS of $3.60, beating analyst estimates by $0.16 and increased 103.4% year-over-year. Management increased quarterly dividend by 11% to 51 cents per share and raised existing share repurchase authorization by $20 billion. In addition, COP announced a VROC of 70 cents per share, payable Jan. 13, 2023, to stockholders of record at the close of business on Dec. 27, 2022.

 

• Amgen Inc. (AMGN) Reports Third-Quarter 2022 Results; AMGN reports third quarter Non-GAAP EPS of $4.70, a 15.2% above from last year and $0.25 ahead of estimates. Revenue decreased 0.9% to $6.65 billion, topping estimates $90 million. Management revised 2022 total revenues guidance to $26.0-$26.3 billion from prior outlook of $25.5-$26.4 billion and EPS guidance revised to $17.25-$17.85 on a non-GAAP basis from prior outlook of $17.00-$18.00.

 

• Starbucks Corporation (SBUX) Reports Q4 and Full Year Fiscal 2022 Results; SBUX reports Non-GAAP EPS of $0.81, beating analyst estimates by $0.09 albeit decreasing 18.2% year-over-year. Revenue increased 3.2% to $8.41 billion, which was $90 million more than expected.

 

• Medifast, Inc. (MED) Announces Third Quarter 2022 Financial Results; MED reports Non-GAAP EPS of $3.32, which decreased 6.7% year-over-year. Revenue of $ 390.4 million beats analyst estimates by $41 million but decreased 5.6% versus the same quarter last year. Management expects full-year 2022 non-GAAP diluted EPS to be in the range of $11.61 to $13.05, down from the previously announced range of $12.70 to $14.10.

 

• Kontoor Brands, Inc. (KTB) Reports Third Quarter 2022 Results; KTB reports Non-GAAP EPS of $1.11, beating analyst estimates by $0.18 but decreased 13.3% year-over-year. Revenue of $606.52 million misses analyst estimates by $8.46 million and decreased 7% versus the same quarter last year. Management expects adjusted EPS to be in the range of $4.35 to $4.40, compared to prior guidance of $4.40 to $4.50.

 

 

• Air Products and Chemicals, Inc. (APD) Reports Fiscal 2022 Fourth Quarter Results; APD reports Non-GAAP EPS of $2.89, beating analyst estimates by $0.13 and increasing 15% year-over-year. Revenue increased 25.7% to $3.57 billion, which was $340 million more than expected. For FY2023 management guides adjusted EPS to be between $11.20 to $11.50 and for Q1 adjusted EPS of $2.60 to $2.80.

 

• Main Street Capital Corporation (MAIN) Announces Third Quarter 2022 Results; MAIN reports Non-GAAP EPS of $0.88, a 15.8% increase from the previous year and $0.12 higher than expected. Total investment income improved 28.1% to $ 98.39 million, $10.79 million higher than expected.

 

• BCE Inc. (BCE) reports third quarter 2022 results; BCE reports Non-GAAP EPS of C$0.88, a 7.3% increase from the prior year. Revenue of C$6.02 billion was in line with expectations and increased 3.1% year-over-year. Management reconfirming all 2022 financial guidance targets: Revenue growth of 1% – 5%; Adjusted EBITDA growth of 2% – 5%; Adjusted EPS growth of 2% – 7%.

 

November 4, 2022

 

• Duke Energy Corporation (DUK) reports third-quarter 2022 financial results; DUK reports Non-GAAP EPS of $1.78, missing analyst estimates by $0.07 and decreasing 5.3% year-over-year. Revenue grew 14.7% to $ 7.97 billion, topping estimates $ 520 million. Management updated 2022 adjusted EPS guidance range of $5.20 to $5.30 and 2023 guidance range of $5.55 to $5.75.

 

• Dominion Energy, Inc. (D) Announces Third-Quarter 2022 Earnings; D reports Non-GAAP EPS of $1.11, which was the same as a year earlier and $0.03 higher than expected. Revenue grew 38.1% to $4.39 billion, topping estimates $410 million. Management initiates Q4 operating earnings guidance of $0.98 to $1.13 per share and narrows 2022 operating earnings guidance range to $4.03 to $4.18 per share.

 

• Cardinal Health, Inc. (CAH) Reports First Quarter Fiscal 2023 Results; CAH reports Non- Non-GAAP EPS of $1.20, beating analyst estimates by $0.23 albeit decreasing 7% year-over-year. Revenue increased 13% to $49.6 billion, $1.44 billion more than expected. Management reaffirmed its fiscal year 2023 guidance range for non-GAAP diluted earnings per share attributable to Cardinal Health, Inc. of $5.05 to $5.40.

 

• Brookfield Renewable (BEP, BEPC) Announces Third Quarter Results; BEP reports third quarter FFO of $0.38, a 15.2% above from last year and $0.02 ahead of estimates. Revenue grew 14.9% to $1.11 billion, topping estimates $50 million. BEP also agreed to acquire U.S.-based renewable energy Scout Clean Energy for $1B, with the potential to invest an additional $350M to support development activities.

 

• Magna International Inc. (MGA) Announces Third Quarter 2022 Results; MGA reports third quarter Non-GAAP EPS of $1.07, 91.1% above last year's result but $0.05 less than expected. Revenue increased 17.7% to $9.3 billion, which was $150 million more than expected. Management reduced FY22 outlook; Total Sales of $37.4 - $38.4, Adjusted EBIT Margin of 4.8% - 5.0%, Net Income attributable to Magna of $1.3 - $1.4 billion.

 

• W. P. Carey Inc. (WPC) Announces Third Quarter 2022 Financial Results; WPC reports third quarter FFO of $1.36, a 9.68% above from last year and $0.10 ahead of estimates. Revenue grew 19.1% to $ 382.08 million, topping estimates by $11.91 million. Management raised and narrowed 2022 AFFO guidance to between $5.25 and $5.31 per diluted share.

 

• TELUS Corporation (TSE:T) reports financial results for third quarter 2022 and Increased Quarterly Dividend; T reports Non-GAAP EPS of C$0.34, a 17.2% increase from the previous year and C$0.01 higher than expected. Revenue of C$4.64 billion misses analyst estimates by C$30 million albeit increased 9.2% versus the same quarter last year. T announces dividend increased to $0.3511, an increase of 7.2 per cent over the same period last year. Management updates 2022 consolidated financial targets; operating revenues of approximately 8%, adjusted EBITDA of growth of 9 to 10%, capital expenditures of approximately $3.475 billion and free cash flow of approximately $1.3 billion.

 

• Enbridge Inc. (ENB) Reports Third Quarter 2022 Financial Results; ENB reports third quarter Non-GAAP EPS of C$0.67, a 13.6% above from last year and C$0.03 ahead of estimates. Revenue grew 0.9% to C$11.57 billion, missing estimates C$900 million. Management reaffirmed 2022 full year guidance range for EBITDA of $15.0 billion to $15.6 billion and DCF per share of $5.20 to $5.50.

 

 

Articles that caught my attention:

 

 

• Undervalued Dividend Growth Stock of the Week: Fifth Third Bancorp (FITB) by Jason Fieber, Mr. Free at 33, at Daily Trade Alert
• ADP Is Slightly Overvalued by Financial Freedom Is A Journey
• Better Buy: ONEOK's 6.3% Yield Or Kinder Morgan's 6.3%? by High Yield Investor at Seeking Alpha
• Medical Properties Trust Q3 Update: Is It Time To Buy? by Samuel Smith at Seeking Alpha
• 9 Expected Dividend Increases in November 2022 by Bert at Dividend Diplomats
• Dividend Kings in Focus: V. F. Corporation by Quinn Mohammed at Sure Dividend
• I'm Buying The Greek Gods Of Income by Rida Morwa at Seeking Alpha
• 27 European Quarterly Dividend Stocks: the Ultimate List to Spread your Passive Income! by European DGI
• 5 Reasons Why REIT Investors Shouldn't Worry About Rising Interest Rates by Jussi Askola at Seeking Alpha
• Lumen's Dividend Cut Highlights Importance Of A Sound Dividend Methodology by Valuentum at Seeking Alpha
• Best REITs for Safe Income by Dividend Power
• How Long Will the Bear Market Last as Fed Keeps Hiking Rates? by Simply Safe Dividends
• Building the big dividend retirement portfolio with defensive Canadian ETFs by Dale Roberts at Cut the Crap Investing
• 5 Relatively Safe And Cheap Dividend Stocks To Invest In - November 2022 by Financially Free Investor at Seeking Alpha

 

 

Thanks for stopping by, have a nice next week!

 

 

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