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BP plc (ADR) (BP): This Company Just Sold Wind: Should These Dividend Stocks Follow Suit?

The newest addition to the wind gang, Atlantic Power (NYSE:AT) , recently announced that it will focus on natural gas and renewables in the years to come. The utility bought Ridgeline Energy from Veolia Environnement (NYSE:VE) last year, adding three wind farms with 150 net MW to its assets.

Source: Atlantic Power Deutsche Bank Leverage Financed Conference Presentation.

It’s also shedding less profitable assets to generate cash for acquisitions and manage its high 2.2 debt-to-equity ratio. Atlantic passed off a transmission project to Duke Energy and American Transmission for $193 million in cash and debt handoffs, and it’s planning on further specializing in the year to come.

Did BP plc (ADR) make the right choice?
Energy portfolios are a lot like ice cream. Some flavors don’t mix, and even the smallest scoop of one flavor can threaten the whole taste. BP made a calculated choice to put aside its wind assets, but one corporation’s trash is another corporation’s treasure. With the right combination, any asset class can look tasty.

The article BP Just Sold Wind: Should These Dividend Stocks Follow Suit? originally appeared on Fool.com.

Fool contributor Justin Loiseau has no position in any stocks mentioned, but he does use electricity. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool recommends Exelon and Veolia Environment.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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