Canadian Solar
Canadian Solar specializes in producing solar panels and developing projects on solar power. Nearly 45% of the company’s revenue comes from the Americas, while Asia accounts for nearly a third of its earnings. The rest of the income comes from Europe and other regions. Canadian Solar has been steadily growing over the years. In the first nine months of 2020, the company generated $100 million in operating profit. The solar panel manufacturer aims to increase its sales in 2021 and to nearly double their volume by 2024. The key growth line for Canadian Solar is power project development. The long-term expansion of this segment, as well as a positive outlook for Canadian Solar, make it stand out in this quite competitive business. Besides, the company’s stock is trading at a lower price-to-earning ratio compared to other companies in this segment.
Enterprise Products Partners
The shares of Enterprise Products Partners can be a great choice for dividend investors. The company provides midstream energy services, including oil and gas transportation. At the moment, the company’s stocks are trading with an attractive yield of 7.8%. The recent volatility in the commodities market contributed to a rise in Enterprise Products Partners' yield. In 2020, the company posted excellent profit results. Its distributable cash flow amounted to $6,4 billion on a yearly basis, while its fourth-quarter sales volumes increased by 1.1%. Within a year, the company’s distributable cash flow was 1.6 times higher than its distribution payments. According to experts, Enterprise Products Partners has one of the strongest balance sheets among its rivals. The company has a project portfolio of $1.6 billion which should allow it to continue its growth streak in the coming years.
PPL Corporation
Another company with high potential in the stock market is PPL Corporation. This is a local electric utility that provides energy services in the US and the UK. For more than 20 years, the company has been paying dividends to its shareholders. Notably, the dividend is steadily rising. In 2020, the company’s earnings from its UK business fell by 2% to $1.33 per share mainly due to the Covid-19 pandemic. Currently, the PPL stocks offer an attractive yield of 5.95% which is 90 basis points higher than its 10-year average. Additionally, the price-to-earning ratio of the company’s stocks is around 14.5 which is one of the best results among similar companies. PPL’s management attributes this valuation gap mainly to its UK operations. The fluctuations in the GBP/USD exchange rate influence the revenue results. In order to narrow the valuation gap, PPL Corporation decided to sell its UK business. The deal was reached in August last year and is expected to be completed in the first half of 2021. The company plans to use the proceeds from the sale of its UK division to strengthen its balance sheet or acquire assets in the US.
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