Updating our Income stocks: Molson Coors Canada Inc., Telus Corp. and Enbridge Inc.

Article Excerpt

MOLSON COORS CANADA INC. $65 (www.molsoncoors.com) is a hold. The stock has gained nearly 50% from its March 2020 low, as the re-opening of bars and restaurants has helped spur demand for its beers. The company has also added fast-selling beverages such as hard seltzers. Molson is also resuming regular quarterly payments. The new annual rate of $1.36 U.S. yields 2.6%. However, the stock remains vulnerable to new lockdowns as the Delta variant of COVID-19 spreads. Molson Coors is a hold. TELUS CORP. $28 (www.telus.com) remains a buy. The company is buying new wireless spectrum from the Canadian government for $1.95 billion. To put that amount in context, it earned $348 million, or $0.26 a share, in the three months ended June 30, 2021. The additional spectrum will help Telus accelerate the rollout of its ultrafast 5G wireless networks, which now cover 36% of Canada’s population. Telus is a buy. ENBRIDGE INC. $50 (www.enbridge.com) is a buy. The company expects to replace…