Here’s a utility to buy, and a laggard to sell: AltaGas Ltd. & New Gold

Article Excerpt

Most stocks dropped in the recent market downturn, but we feel top-quality shares like AltaGas will keep rebounding for investors. Meanwhile, New Gold continues to experience operational issues at its two gold mines. While it has outlined a comprehensive plan to turn them around, it could take some time. We think our other gold stock picks offer better prospects, and we now see New Gold as a sell for TSI Power Growth Investors. ALTAGAS LTD. $16.25 (Toronto symbol ALA; TSINetwork Rating: Extra Risk) (www.altagas.ca; Shares o/s: 279.4 million; Market cap: $4.3 billion; Divd. yield: 6.3%) processes, transports, stores and markets natural gas for producers. It also operates natural gas utilities and is a power generator, with gas-fired, coal-fired, wind, biomass and hydroelectric plants. On March 31, 2020, the Public Sector Pension Investment Board and the Alberta Teachers’ Retirement Fund Board closed its previously announced acquisition of AltaGas Canada Inc. This included the 11.0 million common shares (approximately 37% interest) held by AltaGas. The sale means that almost all…