Preferred Shares Issuer Report will explore the Canadian Preferred Share market by looking at the issuer companies. The idea here to see if we can use the ranking of the issuer as another metric to help us identify mispriced stocks. Preferreds can be mispriced in relation to similar issues within the same issuer as well as in relation to similar preferreds of other issuers.
We already provide a lot of compare tables on individual preferreds grouped by various categories and features. This one will examine the data at a higher level, a level up from the individual preferred share. I hope some of you will find this usefull and figure out a way to incorporate this information in your trading.
Preferred Shares Issuer Report Metrics
I have included 3 metrics per issuer. You can use one or more depending on your investment style.
Starting with the current yield of the issuer. This is the average yield of all preferreds issued by this issuer. It is calculated by adding up the current yields of all preferreds and dividing the total by the number of preferreds. For reference i have also included the current Highest and Lowest yields offered.
The second metric is the reset yield of the issuer. Again this is the average reset yield by all preferreds issued by this issuer. Remember the reset yield is based on today’s 5 year GOC rate. It is calculated by adding up the reset yields of all preferreds and dividing the total by the number of preferreds. For reference i have also included the reset Highest and Lowest reset yields offered.
Rate Increase percent is the last one. Again this is the average rate increase by all preferreds issued by this issuer. It is calculated by adding up the rate increase percent of all preferreds and dividing the total by the number of preferreds. For reference i have also included the Highest and Lowest rate increases.
Metric Market Capitalization
Issuer Market Cap represents the total capitalization of all the preferreds issued by this issuer. To get to this value the following formula / process is used.
- I calculate the market cap for each series of preferreds issues. Market Capitalization = Market Price of Preferred * outstanding float.
- Sum up all the Market Caps as calculated above for each preferred to the get the issuer market cap of all issued preferreds.
Metric “Percent of Total Preferred Shares Market Cap”. This is the percent of market cap the issuer represents in respect to the total Canadian preferred shares Market. Having calculated the market cap of each issuer I now have the total market cap of the entire preferred shares market. To get the percent I divide the current issuer’s preferred shares market cap by the entire market cap.
For a more detailed explanation on the meaning and use of the metrics current yield, reset yield and percent increase see Ranking Table Column Information page.
Preferred Shares Issuer Report Metrics Table
The table with all issuers and metrics discussed above can be sorted along the various columns by simply clicking on the column headings.
In general the issuer offering the highest yield is the issuer the market doe not like so much. If its safety you are looking then these issuers should be avoided. On the other hand the issuer offering the lowest yield is the one the market is rewarding and investors are buying.
The table depicting the metrics is dynamic and these values will be updated daily, reflecting the latest vaules of all factors included included in the calculations. This is not a static page. The timestamp at the top of the table indicates when the data was generated last.
IssuerFor Colunm Descriptions Go to our page of column and metric definitions | Lowest Current Yield | Highest Current Yield | Average Current Yield | 5YR Reset Lowest Reset Yield | 5YR Reset Highest Reset Yield | Average Reset Yield | Lowest Rate Change | Highest Rate Change | Average Rate Change | Issuer Market Cap | Percent of Total Preferred Shares Market Cap |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ALA | 4.17% | 9.09% | 6.52% | 7.33% | 8.87% | 8.10% | 5.00% | 36.00% | 16.75% | 338,390,423 | 0.64% |
| AQN | 7.35% | 7.81% | 7.58% | 7.72% | 8.13% | 7.92% | 13.00% | 14.00% | 13.50% | 193,272,000 | 0.36% |
| AX.UN | 9.71% | 10.61% | 10.16% | 10.54% | 10.81% | 10.67% | 38.00% | 46.00% | 42.00% | 135,224,976 | 0.26% |
| BMO | 3.21% | 6.83% | 4.46% | 6.20% | 7.39% | 6.60% | 0.00% | 5.00% | 1.83% | 2,110,820,000 | 3.98% |
| BCE | 4.65% | 10.34% | 7.92% | 3.85% | 9.64% | 5.21% | 13.00% | 68.00% | 44.65% | 2,494,391,091 | 4.70% |
| BBD.A | 5.91% | 10.29% | 8.25% | 3.85% | 3.85% | 3.85% | 29.00% | 42.00% | 36.00% | 399,249,398 | 0.75% |
| BAM | 4.35% | 10.26% | 6.90% | 3.85% | 9.69% | 8.45% | 7.00% | 104.0% | 48.52% | 3,282,057,983 | 6.19% |
| BPO | 5.05% | 13.27% | 9.60% | 11.94% | 15.20% | 13.80% | 0.00% | 163.0% | 80.75% | 1,883,459,476 | 3.55% |
| BIP | 4.90% | 7.96% | 6.81% | 7.87% | 9.15% | 8.46% | 0.00% | 23.00% | 13.80% | 688,183,631 | 1.30% |
| BRF | 4.61% | 10.51% | 6.93% | 7.79% | 9.51% | 8.69% | 0.00% | 47.00% | 31.11% | 1,248,546,098 | 2.35% |
| CF | 7.27% | 9.07% | 8.17% | 10.45% | 12.75% | 11.60% | 33.00% | 79.00% | 56.00% | 138,279,000 | 0.26% |
| CIU | 4.16% | 6.67% | 6.17% | 7.95% | 9.47% | 8.45% | 5.00% | 81.00% | 38.30% | 1,352,863,500 | 2.55% |
| CWB | 7.46% | 7.56% | 7.51% | 7.74% | 7.80% | 7.77% | -1.000% | 17.00% | 8.00% | 233,250,000 | 0.44% |
| EIT | 4.82% | 4.86% | 4.84% | N/A | N/A | 0.00% | 0.00% | 1.00% | 0.50% | 219,773,050 | 0.41% |
| CM | 3.34% | 6.39% | 4.67% | 6.33% | 7.49% | 6.88% | 0.00% | 8.00% | 3.50% | 1,943,100,000 | 3.66% |
| CSE | 6.75% | 6.75% | 6.75% | 11.97% | 11.97% | 11.97% | 82.00% | 82.00% | 82.00% | 41,100,000 | 0.08% |
| CVE | 3.75% | 8.91% | 5.33% | 7.29% | 8.13% | 7.80% | 4.00% | 45.00% | 19.40% | 775,308,863 | 1.46% |
| CCS | 6.68% | 6.68% | 6.68% | N/A | N/A | 0.00% | 33.00% | 33.00% | 33.00% | 74,880,000 | 0.14% |
| CPX | 4.37% | 7.84% | 6.40% | 8.00% | 10.04% | 8.55% | 0.00% | 66.00% | 23.75% | 528,960,000 | 1.00% |
| DC | 6.94% | 10.68% | 8.81% | 10.38% | 10.38% | 10.38% | 19.00% | 30.00% | 24.50% | 37,155,258 | 0.07% |
| ECN | 12.40% | 12.40% | 12.40% | 14.13% | 14.13% | 14.13% | 56.00% | 56.00% | 56.00% | 59,398,400 | 0.11% |
| EFN | 5.91% | 6.20% | 6.05% | 8.59% | 8.64% | 8.61% | -0.000% | N/A | 0.00% | 261,197,725 | 0.49% |
| ELF | 6.72% | 6.80% | 6.74% | N/A | N/A | 0.00% | 23.00% | 41.00% | 30.00% | 231,120,000 | 0.44% |
| EQB | 6.02% | 6.02% | 6.02% | 8.72% | 8.72% | 8.72% | 1.00% | 1.00% | 1.00% | 72,067,050 | 0.14% |
| ENB | 4.46% | 9.22% | 7.16% | 7.96% | 9.76% | 8.97% | 16.00% | 49.00% | 33.95% | 5,127,227,896 | 9.67% |
| EMA | 3.62% | 9.65% | 6.57% | 7.59% | 9.44% | 8.41% | 17.00% | 66.00% | 36.75% | 1,108,817,659 | 2.09% |
| FFH | 4.18% | 10.09% | 6.90% | 7.98% | 9.20% | 8.66% | 5.00% | 44.00% | 27.60% | 1,166,162,726 | 2.20% |
| FTS | 3.02% | 9.35% | 6.43% | 7.17% | 8.73% | 7.99% | 19.00% | 64.00% | 37.00% | 1,240,844,709 | 2.34% |
| FN | 5.74% | 11.56% | 8.65% | 11.75% | 11.75% | 11.75% | 67.00% | 97.00% | 82.00% | 52,826,244 | 0.10% |
| GWO | 3.04% | 6.76% | 6.39% | 8.95% | 8.95% | 8.95% | 15.00% | 73.00% | 35.00% | 2,010,160,000 | 3.79% |
| IAG | 5.25% | 5.25% | 5.25% | N/A | N/A | 0.00% | 14.00% | 14.00% | 14.00% | 109,500,000 | 0.21% |
| INE | 6.40% | 8.30% | 7.35% | 13.11% | 13.11% | 13.11% | 44.00% | 97.00% | 70.50% | 77,778,000 | 0.15% |
| IFC | 4.18% | 6.72% | 6.25% | 6.94% | 7.88% | 7.45% | 8.00% | 35.00% | 23.42% | 1,101,100,000 | 2.08% |
| L | 6.16% | 6.16% | 6.16% | N/A | N/A | 0.00% | 15.00% | 15.00% | 15.00% | 194,400,000 | 0.37% |
| LB | 5.66% | 5.66% | 5.66% | 8.79% | 8.79% | 8.79% | 37.00% | 37.00% | 37.00% | 91,000,000 | 0.17% |
| MFC | 3.59% | 9.23% | 5.95% | 6.68% | 8.04% | 7.22% | 6.00% | 52.00% | 24.00% | 2,099,530,363 | 3.96% |
| NA | 4.34% | 7.01% | 6.26% | 6.58% | 7.14% | 6.88% | -1.000% | 13.00% | 5.80% | 1,572,320,000 | 2.97% |
| NPI | 4.86% | 10.60% | 7.73% | 10.11% | 10.11% | 10.11% | 38.00% | 51.00% | 44.50% | 100,705,161 | 0.19% |
| PVS | 4.85% | 5.08% | 4.92% | N/A | N/A | 0.00% | 1.00% | 4.00% | 2.75% | 583,045,203 | 1.10% |
| PPL | 4.76% | 7.96% | 6.58% | 7.71% | 8.67% | 8.22% | 6.00% | 27.00% | 16.90% | 1,969,548,580 | 3.71% |
| POW | 6.66% | 6.80% | 6.73% | N/A | N/A | 0.00% | 15.00% | 35.00% | 23.00% | 763,980,000 | 1.44% |
| PWF | 3.34% | 9.91% | 6.93% | 7.15% | 9.12% | 8.13% | 14.00% | 92.00% | 36.06% | 2,127,545,778 | 4.01% |
| RY | 3.23% | 6.20% | 4.45% | 6.08% | 6.97% | 6.55% | 0.00% | 11.00% | 5.71% | 2,438,100,000 | 4.60% |
| MI | 7.17% | 7.17% | 7.17% | N/A | N/A | 0.00% | 32.00% | 32.00% | 32.00% | 75,280,000 | 0.14% |
| SLF | 2.81% | 9.42% | 6.27% | 7.95% | 8.10% | 8.02% | 26.00% | 54.00% | 40.57% | 904,011,569 | 1.70% |
| TA | 5.30% | 10.91% | 7.92% | 8.26% | 10.84% | 9.25% | 7.00% | 83.00% | 37.33% | 723,133,821 | 1.36% |
| TD | 3.37% | 6.38% | 4.59% | 6.27% | 7.44% | 6.85% | 0.00% | 6.00% | 3.11% | 3,431,020,000 | 6.47% |
| TRI | 9.40% | 9.40% | 9.40% | N/A | N/A | 0.00% | 86.00% | 86.00% | 86.00% | 80,400,000 | 0.15% |
| TRP | 3.30% | 10.86% | 6.86% | 8.31% | 10.38% | 9.23% | 32.00% | 94.00% | 59.55% | 1,686,938,363 | 3.18% |
| VBNK | 6.85% | 6.85% | 6.85% | 9.41% | 9.41% | 9.41% | 1.00% | 1.00% | 1.00% | 14,409,995 | 0.03% |
| WN | 4.97% | 9.31% | 6.43% | N/A | N/A | 0.00% | -3.000% | 38.00% | 4.89% | 664,702,000 | 1.25% |
Canadian Preferred Shares – Mission
Our mission is to provide the average investor with the knowledge, up to date information, latest trends, data and tools to select the best preferreds to purchase or sell today.
Without tools like the ones we provide here, its simply not possible to make an educated decision, thus keeping most individual investors away. Our tools provide an overall view, of the preferreds market. With a few clicks you can easily locate today’s best preferreds within a sector/category or across the whole market.
Using our homepage as a starting point you can access all of our tools.