Toronto symbol FTS, distributes electricity to customers in Newfoundland, Prince Edward Island, Ontario, Alberta and British Columbia. The company also owns power utilities in the United States and the Caribbean, plus hotels and commercial real estate, mainly in Atlantic Canada.
Rising interest rates increase the appeal of bonds, which is generally bad news for utilities which must compete with bonds for the attention of income-seeking investors. At the same time, higher interest rates increase borrowing costs for utilities. That further erodes investors’ interest.
However, these three… Read More
LOBLAW COMPANIES, $118.69, is a buy. The retailer (Toronto symbol L; Shares outstanding: 321.0 million; Market cap: $38.4 billion; TSINetwork Rating: Above Average; Dividend yield: 1.5%; www.loblaw.ca), operates 1,099 supermarkets under several banners, including Loblaws, Zehrs, Provigo, Real Canadian Superstore and No Frills. Its Shoppers Drug Mart chain has… Read More
Fortis has a nearly 50-year record of annual dividend increases. That’s mainly because its regulated power utilities provide it with plenty of cash flow to service its debt, invest in new projects and reward investors.
The company expects its new spending plan will let it raise… Read More
ROYAL BANK OF CANADA $129 (www.rbc.com) is a buy. In November 2022, the bank agreed to pay $13.5 billion in cash for the Canadian operations of U.K.-based HSBC Holdings plc (New York symbol HSBC). That includes 130 branches, which mainly cater to businesses in industries that trade and… Read More
TORONTO-DOMINION BANK, $83.80, Toronto symbol TD, remains a buy.
Due to delays securing the necessary regulatory approvals, TD has cancelled its deal to acquire First Horizon Corporation (New York symbol FHN) for $13.4 billion U.S. The purchase would have made TD’s banking operations the sixth largest in… Read More
While rising interest rates have spurred income-seeking investors to buy bonds, we still prefer high-quality utilities like these four. Their regulated businesses cut your risk and give them lots of cash flow for dividends. Canadian investors also benefit from the dividend tax credit.
ENBRIDGE INC. $53… Read More
FORTIS INC. $55 is a buy. The company (Toronto symbol FTS; Income-Growth Portfolio, Utilities sector; Shares outstanding: 482.2 million; Market cap: $26.5 billion; Dividend yield 4.1%; Dividend Sustainability Rating: Highest; www.fortisinc.com) is the main supplier of electrical power in Newfoundland and PEI. It also owns electrical and gas utilities… Read More
A: The BMO Low Volatility Canadian Equity ETF, $41.20, symbol ZLB on Toronto (Units outstanding: 71.1 million; Market cap: $2.9 billion; www.etfs.bmo.com), provides exposure to a low beta-weighted portfolio of Canadian stocks. The aim is to reduce your exposure to market volatility.
The ETF selects 40… Read More
These four leading utility stocks get most of their revenue from rate-regulated operations. That makes its easier to recoup the cost of new power plants and upgrades to their existing assets. Moreover, they continue to use their increasing cash flow to reward investors with dividend… Read More
Rising interest rates have dampened investor enthusiasm for high-yielding utility stocks. That’s because higher rates add to a utility’s interest costs and, at the same time, they increase the appeal of competing bonds by spurring their yields.
However, these four utilities get most of their revenue… Read More
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