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Canoe EIT Income Fund

TSX:EIT.PRB
Snowflake Description

Mediocre balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
EIT.PRB
TSX
CA$3B
Market Cap
  1. Home
  2. CA
  3. Diversified Financials
Company description

Canoe EIT Income Fund is a closed-ended balanced fund launched and managed by Canoe Financial LP. The last earnings update was 3 days ago. More info.


Add to Portfolio Compare Print
  • Canoe EIT Income Fund is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
EIT.PRB Share Price and Events
7 Day Returns
7.9%
TSX:EIT.PRB
7.9%
CA Capital Markets
11.7%
CA Market
1 Year Returns
-7.1%
TSX:EIT.PRB
-19.7%
CA Capital Markets
-26%
CA Market
EIT.PRB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Canoe EIT Income Fund (EIT.PRB) 7.9% -8.4% -9.3% -7.1% - -
CA Capital Markets 7.9% -23.7% -26.5% -19.7% -20.2% -21.4%
CA Market 11.7% -21.9% -26.6% -26% -23.6% -17.8%
1 Year Return vs Industry and Market
  • EIT.PRB outperformed the Capital Markets industry which returned -19.7% over the past year.
  • EIT.PRB outperformed the Market in Canada which returned -26% over the past year.
Price Volatility
EIT.PRB
Industry
5yr Volatility vs Market

Value

 Is Canoe EIT Income Fund undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Canoe EIT Income Fund to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Canoe EIT Income Fund.

TSX:EIT.PRB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CA$11.63 * 5.3%
CA$0.62
Book Value of Equity per Share Median Book Value from the past 5 years. CA$11.63
Discount Rate (Cost of Equity) See below 7.6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:EIT.PRB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.751 (1 + (1- 26.5%) (11.82%))
1.132
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.132 * 5.44%)
7.6%

Discounted Cash Flow Calculation for TSX:EIT.PRB using Excess Returns Model Model

The calculations below outline how an intrinsic value for Canoe EIT Income Fund is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

TSX:EIT.PRB Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (5.3% – 7.6%) * CA$11.63)
CA$-0.27
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CA$-0.27 / (7.6% - 1.44%)
CA$-4.32
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CA$11.63 + CA$-4.32
CA$7.3
TSX:EIT.PRB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in TSX:EIT.PRB represents 1.00826x of TSX:EIT.PRA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00826x
Value per Share
(Listing Adjusted, CAD)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 7.30 x 1.00826
CA$7.36
Value per share (CAD) From above. CA$7.36
Current discount Discount to share price of CA$23.19
= -1 x (CA$23.19 - CA$7.36) / CA$7.36
-215%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Canoe EIT Income Fund is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Canoe EIT Income Fund's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Canoe EIT Income Fund's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:EIT.PRB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$1.47
TSX:EIT.PRA Share Price ** TSX (2020-03-27) in CAD CA$23
Canada Capital Markets Industry PE Ratio Median Figure of 15 Publicly-Listed Capital Markets Companies 7.45x
Canada Market PE Ratio Median Figure of 498 Publicly-Listed Companies 10.58x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Canoe EIT Income Fund.

TSX:EIT.PRB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:EIT.PRA Share Price ÷ EPS (both in CAD)

= 23 ÷ 1.47

15.64x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Canoe EIT Income Fund is overvalued based on earnings compared to the CA Capital Markets industry average.
  • Canoe EIT Income Fund is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Canoe EIT Income Fund's expected growth come at a high price?
Raw Data
TSX:EIT.PRB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.64x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
North America Capital Markets Industry PEG Ratio Median Figure of 39 Publicly-Listed Capital Markets Companies 1.81x
Canada Market PEG Ratio Median Figure of 235 Publicly-Listed Companies 0.71x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Canoe EIT Income Fund, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Canoe EIT Income Fund's assets?
Raw Data
TSX:EIT.PRB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$10.78
TSX:EIT.PRA Share Price * TSX (2020-03-27) in CAD CA$23
Canada Capital Markets Industry PB Ratio Median Figure of 157 Publicly-Listed Capital Markets Companies 0.82x
Canada Market PB Ratio Median Figure of 2,349 Publicly-Listed Companies 0.99x
TSX:EIT.PRB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:EIT.PRA Share Price ÷ Book Value per Share (both in CAD)

= 23 ÷ 10.78

2.13x

* Primary Listing of Canoe EIT Income Fund.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Canoe EIT Income Fund is overvalued based on assets compared to the CA Capital Markets industry average.
X
Value checks
We assess Canoe EIT Income Fund's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Canoe EIT Income Fund has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Canoe EIT Income Fund expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Canoe EIT Income Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.8%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Canoe EIT Income Fund expected to grow at an attractive rate?
  • Unable to compare Canoe EIT Income Fund's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Canoe EIT Income Fund's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare Canoe EIT Income Fund's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:EIT.PRB Future Growth Rates Data Sources
Data Point Source Value (per year)
North America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
North America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.6%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.5%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:EIT.PRB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:EIT.PRB Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 209 -236 168
2019-09-30 126 -109 87
2019-06-30 43 19 7
2019-03-31 2 111 -30
2018-12-31 -39 203 -68
2018-09-30 26 174 -4
2018-06-30 91 146 60
2018-03-31 92 38 60
2017-12-31 93 -70 61
2017-09-30 127 -45 98
2017-06-30 161 -19 134
2017-03-31 192 103 164

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Canoe EIT Income Fund is high growth as no earnings estimate data is available.
  • Unable to determine if Canoe EIT Income Fund is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:EIT.PRB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Canoe EIT Income Fund Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:EIT.PRB Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 1.47
2019-09-30 0.81
2019-06-30 0.07
2019-03-31 -0.31
2018-12-31 -0.74
2018-09-30 -0.05
2018-06-30 0.66
2018-03-31 0.67
2017-12-31 0.67
2017-09-30 1.07
2017-06-30 1.46
2017-03-31 1.77

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Canoe EIT Income Fund will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Canoe EIT Income Fund's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the North America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the North America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Canoe EIT Income Fund has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Canoe EIT Income Fund performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Canoe EIT Income Fund's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Canoe EIT Income Fund's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Canoe EIT Income Fund has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Canoe EIT Income Fund has become profitable in the last year making it difficult to compare the CA Capital Markets industry average.
Earnings and Revenue History
Canoe EIT Income Fund's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Canoe EIT Income Fund Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:EIT.PRB Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 209.24 167.65 20.60
2019-09-30 126.14 87.44 19.12
2019-06-30 43.04 7.23 17.65
2019-03-31 1.86 -30.33 17.99
2018-12-31 -39.33 -67.89 18.32
2018-09-30 25.94 -4.14 19.24
2018-06-30 91.21 59.60 20.15
2018-03-31 92.14 60.36 20.14
2017-12-31 93.06 61.13 20.13
2017-09-30 126.94 97.54 19.83
2017-06-30 160.81 133.96 19.53
2017-03-31 192.13 163.55 18.95
2016-12-31 223.44 193.15 18.37
2016-09-30 134.58 104.08 18.71
2016-06-30 45.72 15.01 19.06
2016-03-31 19.65 -6.72 20.03
2015-12-31 -6.42 -28.44 21.01
2015-09-30 28.45 8.02 21.60
2015-06-30 63.32 44.48 22.19
2015-03-31 121.69 100.67 21.67
2014-12-31 180.05 156.86 21.14
2014-09-30 253.53 225.26 20.88
2014-06-30 327.01 293.65 20.61
2014-03-31 249.50 219.25 21.33
2013-12-31 172.00 144.85 22.06
2013-09-30 23.21 89.75 22.21
2013-06-30 28.49 29.92 22.36
2013-03-31 43.56 25.21 22.93

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Canoe EIT Income Fund has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Canoe EIT Income Fund used its assets more efficiently than the CA Capital Markets industry average last year based on Return on Assets.
  • Canoe EIT Income Fund's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Canoe EIT Income Fund's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Canoe EIT Income Fund has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Canoe EIT Income Fund's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Canoe EIT Income Fund's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Canoe EIT Income Fund is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Canoe EIT Income Fund's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Canoe EIT Income Fund's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Canoe EIT Income Fund Company Filings, last reported 2 months ago.

TSX:EIT.PRB Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,280.91 310.02 167.14
2019-09-30 1,280.91 310.02 167.14
2019-06-30 1,257.70 310.25 361.33
2019-03-31 1,257.70 310.25 361.33
2018-12-31 1,067.46 313.82 359.11
2018-09-30 1,067.46 313.82 359.11
2018-06-30
2018-03-31 1,072.89 227.40 9.01
2017-12-31 1,072.89 227.40 9.01
2017-09-30 1,072.89 227.40 9.01
2017-06-30 1,151.94 229.95 75.57
2017-03-31 1,151.94 229.95 75.57
2016-12-31 1,151.21 97.27 83.67
2016-09-30 1,151.21 97.27 83.67
2016-06-30 1,169.11 93.60 110.73
2016-03-31 1,169.11 93.60 110.73
2015-12-31 1,111.61 100.25 18.54
2015-09-30 1,111.61 100.25 18.54
2015-06-30 1,304.57 90.49 59.32
2015-03-31 1,304.57 90.49 59.32
2014-12-31 1,292.13 84.17 206.16
2014-09-30 1,292.13 84.17 206.16
2014-06-30 1,284.93 127.17 93.48
2014-03-31 1,284.93 127.17 93.48
2013-12-31 1,142.65 162.68 29.12
2013-09-30 1,141.65 162.68 29.12
2013-06-30 1,068.97 235.83 212.16
2013-03-31 1,068.97 235.83 212.16
  • Canoe EIT Income Fund's level of debt (24.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (6.5% vs 24.2% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 60x coverage).
X
Financial health checks
We assess Canoe EIT Income Fund's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Canoe EIT Income Fund has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Canoe EIT Income Fund's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.22%
Current annual income from Canoe EIT Income Fund dividends.
If you bought CA$2,000 of Canoe EIT Income Fund shares you are expected to receive CA$104 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Canoe EIT Income Fund's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.73%).
  • Canoe EIT Income Fund's dividend is below the markets top 25% of dividend payers in Canada (8.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:EIT.PRB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 6.2%
Canada Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 4.9%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:EIT.PRB Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-02 1.200 5.096
2020-02-05 1.200 4.640
2020-01-07 1.200 4.683
2019-12-05 1.200 4.681
2019-10-07 1.200 4.707
2019-09-06 1.200 4.714
2019-08-08 1.200 4.731
2019-07-08 1.200 4.708
2019-06-05 1.200 4.764
2019-04-04 1.200 4.781
2019-03-12 1.200 4.766
2019-02-11 1.200 4.800
2019-01-04 1.200 4.887
2018-12-07 1.200 4.912
2018-11-06 1.200 4.842
2018-10-05 1.200 4.769
2018-09-05 1.200 4.756
2018-07-13 1.200 4.746
2018-06-13 1.200 4.774
2018-05-14 1.200 4.771
2018-04-12 1.200 4.736
2018-03-12 1.200 4.714
2018-02-14 1.200 4.721
2018-01-12 1.200 4.675
2017-12-11 1.200 4.710
2017-11-13 1.200 4.724
2017-10-11 1.200 4.735
2017-09-12 1.200 4.736
2017-08-10 1.200 4.705
2017-07-10 1.200 4.662
2017-06-12 1.200 4.648
2017-05-10 1.200 4.688
2017-04-10 1.200 4.686

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Canoe EIT Income Fund has been paying a dividend for less than 10 years.
  • Canoe EIT Income Fund has only been paying a dividend for 3 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Canoe EIT Income Fund's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.5x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Canoe EIT Income Fund's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Canoe EIT Income Fund afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Canoe EIT Income Fund has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Canoe EIT Income Fund's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Canoe EIT Income Fund has no CEO, or we have no data on them.
Management Team

Carl Hoyt

TITLE
Investment Manager
Board of Directors

Nevin Markwart

TITLE
CEO of Canoe Financial Corp.
AGE
55
Who owns this company?
Recent Insider Trading
  • Canoe EIT Income Fund individual insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
16. Mar 20 Sell Darcy Lake Individual 11. Mar 20 11. Mar 20 -1,200 CA$23.35 CA$-28,020
03. Jun 19 Sell Darcy Lake Individual 31. May 19 03. Jun 19 -800 CA$25.12 CA$-20,034
29. May 19 Sell Darcy Lake Individual 29. May 19 29. May 19 -700 CA$25.07 CA$-17,549
X
Management checks
We assess Canoe EIT Income Fund's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Canoe EIT Income Fund has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Canoe EIT Income Fund is a closed-ended balanced fund launched and managed by Canoe Financial LP. It is co-managed by Haber Trilix Advisors, LP. The fund invests in the public equity and fixed income markets of Canada and the United States. Its equity portion seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in growth and value stocks of mid-cap and large-cap companies. It invests in equity and debt securities of royalty and income trusts, corporations, partnerships, or other issuers. The fund was formerly known as EnerVest Diversified Income Trust. Canoe EIT Income Fund was formed on August 5, 1997 and is domiciled in Canada.

Details
Name: Canoe EIT Income Fund
EIT.PRB
Exchange: TSX
Founded: 1997
CA$2,622,621,490
114,027,021
Website: http://www.canoefinancial.com/products/closed-end-funds/enervest-divesified-income-trust/overview6/
Address: Canoe EIT Income Fund
Suite 3900, 350 - 7th Avenue South West,
Calgary,
Alberta, T2P 3N9,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX EIT.PRA RED PFD SER 1 The Toronto Stock Exchange CA CAD 15. Mar 2017
TSX EIT.PRB 4.8% CUM RD PFD2 The Toronto Stock Exchange CA CAD 17. Apr 2018
TSX EIT.UN Trust Units The Toronto Stock Exchange CA CAD 07. Aug 1997
OTCPK ENDT.F Trust Units Pink Sheets LLC US USD 07. Aug 1997
Number of employees
Current staff
Staff numbers
0
Canoe EIT Income Fund employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 03:55
End of day share price update: 2020/03/27 00:00
Last earnings filing: 2020/03/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.