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2 Top TSX penny stocks under $1 to buy in July: TI and FORZ
Investors with a wide risk appetite often prefer penny stocks, especially the ones that are likely to grow in future. Such Canadian traders can look at TSX penny stocks like Titan Mining (TSX: TI) and Forza Petroleum (TSX: FORZ).
Notably, both these stocks have gained about 85 per cent and 80 per cent, respectively, in the past one year. Let us find out more about these TSX penny stocks.
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TSX posts 13.84% loss in Q2 as all major sectors close in red
The TSX Composite Index fell 1.14 per cent, 217.28 points, to 18,861.36, Thursday, June 30. All major sectors closed in the red. The energy sector and tech fell 1.7 per cent each and healthcare was down over four per cent. Base metals lost nearly three per cent and financials 0.5 per cent.
This year’s second quarter has been one of the worst in recent memory for Canada’s benchmark index with a loss of 13.84 per cent. In June, it lost over nine per cent.
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TSX growth stocks to buy for long term: TRQ, OBE & WSP
Regardless of your investment horizon, stock markets offer you numerous possibilities. There is room for investors who desire rapid growth and investors who want less risky options. If you want to increase the value of your investment more quickly through the stock market, you can think about growth stocks.
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TSX growth stocks to buy for long term: TRQ, OBE & WSP
Regardless of your investment horizon, stock markets offer you numerous possibilities. There is room for investors who desire rapid growth and investors who want less risky options. If you want to increase the value of your investment more quickly through the stock market, you can think about growth stocks.
Highlights
· Statistics Canada report revealed that inflation was highest in May over the last four decades.
· Shares of businesses predicted to develop faster than the market average are known as growth stocks.
· It is expected that the Bank of Canada might soon hike the interest rates by 0.75 per cent.
Regardless of your investment horizon, stock markets offer you numerous possibilities. There is room for investors who desire rapid growth and investors who want less risky options. If you want to increase the value of your investment more quickly through the stock market, you can think about growth stocks.
Shares of businesses predicted to develop faster than the market average are known as growth stocks. Your capital can rise significantly over time if you invest in growth strategies. However, there is also more danger associated with investing in them.
Your money can outperform inflation by investing in TSX growth stocks. According to some analysts, the true growth of your money is the growth rate minus inflation. In other words, your money should rise significantly above inflation.
A recent Statistics Canada report revealed that inflation was highest in May over the last four decades as it stood at 7.7 per cent. Due to the growth in the prices of goods and services across sectors like energy and food, it is expected that the Bank of Canada might soon hike the interest rates by 0.75 per cent.
If you are looking to beat inflation by investing in the stock market, then you might consider exploring the following stocks listed on the Toronto Stock Exchange.
Turquoise Hill Resources Ltd. (TSX:TRQ)
The company is engaged in developing and exploring copper, coal, and gold. Despite uncertain market conditions in 2022, the TRQ stock gave returns of around 64 per cent year-to-date (YTD).
At market close on June 23, the metals and mining stock price was C$ 34.05 per share. On June 6, the TRQ stock clocked a 52-week high of C$ 38.92 apiece.
Turquoise said that it had US$ 0.6 billion of available liquidity at the end of the first quarter, enough to meet the company's expected requirements. Meanwhile, the company's income increased to US$ 394.3 million in Q1 2022 from US$ 332.1 million in Q1 2021.
Obsidian Energy Ltd. (TSX:OBE)
The Alberta-based oil and gas producer generates its maximum revenue from selling crude oil. Obsidian's financial results were strong in Q1 2022 as it achieved strong average production of 29,407 barrels of oil equivalent per day.
Obsidian's cash flow from operating activities jumped to C$ 83.9 million in Q1 2022 from C$ 28.4 million in Q1 2021. The oil and gas company also raised its 2022 production range target to between 30,300 boe/d to 31,300 boe/d.
The energy sector has performed well compared to various other sectors since the start of 2022. Over the past year, the OBE stock surged 119 per cent and gave returns of 84.3 per cent YTD.
WSP Global Inc. (TSX:WSP)
WSP works with clients in the transportation, infrastructure, real estate, and other sectors. In the first quarter, the company achieved robust results as its revenues and net revenues jumped 28.8 per cent and 26 per cent YoY.
In Q1 2022, the adjusted EBITDA grew to $324.6 million compared to $241 million in the first quarter of 2021. Meanwhile, the adjusted earnings were $136.4 million in the first quarter of this year.
The WSP stock surged 0.7 per cent during the trading hours on June 23 and closed at C$ 141.36 apiece.
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Is there a possibility of Databricks IPO in 2022?
Despite uncertain market conditions due to rising inflation and higher interest rates, some private companies continue to keep their investors hooked on their initial public offering (IPO) plans.The IPO market has performed badly in 2022, and many companies had to delay their public debut plans due to the present condition of the market. However, this does not mean that investors are no longer interested in the IPOs.
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Is there a possibility of Databricks IPO in 2022?
Despite uncertain market conditions due to rising inflation and higher interest rates, some private companies continue to keep their investors hooked on their initial public offering (IPO) plans.
The IPO market has performed badly in 2022, and many companies had to delay their public debut plans due to the present condition of the market. However, this does not mean that investors are no longer interested in the IPOs.
Highlights:
· Databricks explore the concept of “lakehouse” architecture in the cloud.
· In August 2021, Databricks said it raised US$ 1.6 billion and achieved a valuation of US$ 38 billion.
· Databricks reportedly aims to invest in innovations that can improve and simplify artificial intelligence.
Often, potential investors look for the IPO plans of some private companies that were expected to go public this year, including the data analytics company called Databricks.
What is Databricks?
Databricks explore the concept of “lakehouse” architecture in the cloud. The enterprise software company uses artificial intelligence while serving as a data analytics platform. Using an open and integrated platform for data and AI, the Lakehouse platform aids businesses in managing their data.
Some market experts believe that the data warehouse may no longer be necessary because of lake houses as they are built on the new approach for gathering, evaluating, and selecting information.
Since data warehouses have been a key component of corporate IT portfolios for more than three decades, this could be a significant development if lakehouses gain more prominence.
In August 2021, Databricks said it raised US$ 1.6 billion during a Series H funding round and achieved a valuation of US$ 38 billion. The funding round was led by various investors, including ClearBridge Investments and Morgan Stanley.
To handle all data and analytics workloads on a single platform, Databricks clients create lakehouses on AWS, Microsoft Azure, and Google Cloud. They are able to eliminate architectural complexity, drastically cut infrastructure expenses, boost the productivity of the data team, and innovate more quickly as a result.
The funding round in August had increased the total funding of Databricks to US$ 3.6 billion, and the money is expected to be utilised to strengthen the company’s position as the leader in the enormous and quickly expanding market for data lakehouses.
In addition, Databricks reportedly aims to invest in innovations that can improve and simplify artificial intelligence. With a global reach of more than 7,000 businesses, Databricks reportedly has a presence in more than 12 countries.
Bottom line
A Databricks IPO plan has kept potential investors hooked for the past year. The enterprise software company’s expected public debut was expected to happen this year. However, it seems highly unlikely as the global economy could take some time to bounce back.
It is uncertain if Databricks would take the traditional IPO route or opt for a direct listing in a stock market. There is no official communication from the company, and people will have to wait to hear from the company if they are interested in getting hold of the pre-IP
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Growth stocks grabbing investors’ attention (PGW, SCT, RAK: 3 NZX)
Growth stocks are those companies that have high-growth potential and are expected to grow their earnings at a relatively faster pace than their peers. These companies often have a high price-to-earnings ratio and continue to grow rapidly, thereby witnessing an increase in their share prices.
Further, Best Growth Stocks in NZ are characterised by having more efficient technology than the existing one, thus giving a company an edge over others.
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Growth stocks grabbing investors’ attention (PGW, SCT, RAK: 3 NZX)
Highlights:
Growth stocks are equipped with high-growth potential
Rakon posts a record earnings performance for FY22
PGG Wrightson lifts its operating EBITDA guidance for FY22
Growth stocks are those companies that have high-growth potential and are expected to grow their earnings at a relatively faster pace than their peers. These companies often have a high price-to-earnings ratio and continue to grow rapidly, thereby witnessing an increase in their share prices.
Further, Best Growth Stocks in NZ are characterised by having more efficient technology than the existing one, thus giving a company an edge over others.
With this overview, let us skim through the three NZX-listed growth stocks- Rakon Limited (NZX:RAK), PGG Wrightson Limited (NZX:PGW) and Michael Hill International Limited (NZX:MHJ).
Rakon Limited (NZX:RAK)
Rakon Limited is one of the leading manufacturers of timing solutions and frequency control products across the world, having a market cap of about NZ$344 million. It has a one-year return of 63.04%.
Last month, the Company released its FY22 results, reporting a record earnings performance, with underlying EBITDA rising 132% and NPAT climbing 244% on FY21, majorly on account of continued demand growth in 5G networks and industrial positioning applications along with new opportunities stemming from chip shortages across the world.
RAK maintains a strong balance sheet position and boasts a strong forward order book which will accelerate its growth in its core markets.
At the time of writing on 8 June, RAK was down 2.00% at NZ$1.470.
PGG Wrightson Limited (NZX:PGW)
Functioning as an agricultural supply business, PGG Wrightson Limited has a market cap of nearly NZ$342 million and 35.22% as its one-year return.
In its H1FY22 results, the Company posted revenue of NZ$552.4 million, up 11% on pcp, and on NPAT, up 32%, amounting to NZ$22.5 million, majorly attributed to the diversified nature of its businesses and strong performance of all its business units.
Further, based on its strong Q3 performance, PGW has raised its operating EBITDA guidance for FY22 from NZ$62 million to nearly NZ$66 million, and the demand for its horticulture exports remains buoyant.
At the time of writing on 8 June, PGW was trading flat at NZ$4.530.
Michael Hill International Limited (NZX:MHJ; ASX:MHJ)
NZ’s renowned fine jewellery retailer is Michael Hill International Limited, having a market cap of about NZ$447 million and 25.84% as its one-year return.
The Company revealed to sell its Canadian credit receivables to Flexiti, a consumer credit provider based in Canada, to enhance its customer base as well as to strengthen its balance sheet.
MHJ has recorded an 11.1% and 4.8% increase in its all-store sales and same-store sales, respectively, in FY22Q3 as compared to the prior year. Also, its digital sales grew almost 32% on a year-to-date basis, reflecting continued store growth and the progression of its international digital expansion strategy.
Michael Hill International continues to pivot from transformation to growth despite facing pandemic uncertainties, lower foot traffic, and challenges with staff rostering.
At the time of writing on 8 June, MHJ was gaining 2.68% at NZ$1.150.
Bottom Line
Investing in growth stocks often gives a substantial boost to the capital invested over time. However, investors must conduct thorough analysis and research before investing in the stock market.
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Best utility stocks in Canada to buy amid volatility: CU, AQN & FTS
Utility stocks can be a useful addition to an investment portfolio to diversify risk and produce stable cash amid current volatility. These stocks might come in handy due to rate-regulated activities and the ability to produce predictable cash flows.
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Best utility stocks in Canada to buy amid volatility: CU, AQN & FTS
Utility stocks can be a useful addition to an investment portfolio to diversify risk and produce stable cash amid current volatility. These stocks might come in handy due to rate-regulated activities and the ability to produce predictable cash flows.
Highlights
· Utility companies provide necessary services like natural gas distribution and power transmission.
· Utility stocks might come in handy due to rate-regulated activities.
· Canada’s inflation rate soared to a record high in about 40 years after it increased to 7.7 per cent.
Additionally, utility companies’ low-risk operation and solid earnings foundation underpin their dividends and reduce their volatility.
Utility companies provide necessary services like natural gas distribution and power transmission. Most of these businesses are well-established, with deep roots in the market.
Hence, during times of rising inflation, these companies are expected to continue their business operations as usual. Consumers avail the services of utility companies as they are essential. Recently, Canada’s inflation rate soared to a record high in about 40 years after increasing to 7.7 per cent in May.
We have compiled a list of the Best utility stocks in Canada Let’s look at them:
Canadian Utilities Limited (TSX:CU)
It is a subsidiary of Atco, which had recently announced that it would construct two hydrogen production and fueling stations. Canadian Utilities distributes electricity and gas services.
In Q1 2022, the adjusted earnings of the utility company were C$ 219 million compared to C$ 191 million. Canadian Utilities said it invested C$ 263 million in capital projects.
The company had paid a quarterly dividend of C$ 0.44 per unit on June 1; its dividend yield is 4.7 per cent.
Fortis Inc. (TSX:FTS)
It is among one of the largest utility service providers in Canada and reportedly serves over 3.4 million customers. Fortis has a network of over 16,000 miles of high-voltage transmission lines.
Fortis’ first-quarter net earnings were C$ 350 million, and the company said it was on track with capital investments for this year.
In 2021, the company’s revenue was C$ 9.4 billion, and the total assets stood at C$ 58 billion as of March 31, 2022.
Fortis is a large organization that houses 9,100 employees and operates in several countries. The company’s return on equity is 7.2 per cent, and its dividend yield was 3.6 per cent at the time of writing.
Algonquin Power & Utilities Corp. (TSX:AQN)
It is a diversified utility company that pays regular dividends to its common shareholders. On May 12, Algonquin had announced a six per cent dividend increase for the common shares.
The company’s finances remained strong in the first quarter as its revenue increased to US$ 735.7 million, up by 16 per cent year-over-year (YoY). Meanwhile, the adjusted EBITDA increased by 17 per cent YoY to US$ 330.6 million.
Notably, the adjusted earnings of Algonquin jumped by 13 per cent from the first quarter of 2021 to US$ 141.3 million. In Q1 2022, the company’s cash provided by operating activities recorded a huge surge of 168 per cent YOY and amounted to US$ 166.2 million.
Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
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Macroeconomic factors like inflation, the Ukraine crisis, rate hikes, increased borrowing costs, etc. continue to broadly impact the global stock markets. In such market situations, equity investors generally prefer safe equities like Bluechip stocks to ensure some stability.
Canadian National Railway (TSX: CNR), Canadian Pacific (TSX: CP), Enbridge (TSX: ENB), Scotiabank (TSX: BNS) and Manulife Financial (TSX: MFC) are five TSX Bluechip Stocks that can be explored for stable returns in the long term.
Now, let us talk about these five TSX bluechip stocks.
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5 Canadian Blue Chip Stocks to buy (CNR, CP, ENB, BNS, and MFC
Macroeconomic factors like inflation, the Ukraine crisis, rate hikes, increased borrowing costs, etc. continue to broadly impact the global stock markets. In such market situations, equity investors generally prefer safe equities like Bluechip stocks to ensure some stability.
Canadian National Railway (TSX: CNR), Canadian Pacific (TSX: CP), Enbridge (TSX: ENB), Scotiabank (TSX: BNS) and Manulife Financial (TSX: MFC) are five TSX Bluechip Stocks that can be explored for stable returns in the long term.
Now, let us talk about these five TSX bluechip stocks.
Canadian National Railway (TSX: CNR)
Canadian National announced its plan to invest about C$ 430 million in Ontario this year on Wednesday, June 22, to ensure sustainable growth and improve its capacity to transport of goods via its transcontinental network.
Canadian National posted a five per cent surge in revenues in Q1 2022 compared to first quarter of 2021. The railway company also reported increased free cash flow of C$ 571 million in the latest quarter, higher from C$ 539 million in Q1 2021.
Canadian National is supposed to deliver C$ 0.733 per share as a quarterly dividend on June 30.
Canadian Pacific Railway Limited (TSX: CP)
Canadian Pacific Railway Limited (TSX: CP) is another major railroad operator that enables movement of numerous goods across Canada and into some parts of the US.
The Canadian railroad said that its non-freight revenue increased to C$ 42 million in Q1 2022 from C$ 42 million a year ago. However, this increase was offset by decline in freight revenue resulting in total revenues of C$ 1.83 billion in Q1 2022 compared to C$ 1.95 billion a year ago. In addition to this, Canadian Pacific is set to disburse a quarterly dividend of C$ 0.19 on July 25.
Enbridge (TSX: ENB)
Enbridge agreed to provide transportation capacity to Plaquemines LNG facility of Venture Global on May 26. The energy firm is advancing its two Texas Eastern Transmission, LP projects to supply natural gas of 1.5 billion cubic feet a day to this new sanctioned facility.
Enbridge is one of the top dividend paying companies in Canada with a dividend yield of over six per cent.
Bank of Nova Scotia (TSX: BNS)
Scotiabank reported a growing net profit of C$ 2.74 billion in the second quarter of 2022 relative to C$ 2.45 billion in Q2 2021. Its profitability also improved with a return on equity (ROE) of 16.2 per cent in the latest quarter compared to 14.8 per cent in Q2 2021.
On July 27, Bank of Nova Scotia will deliver a quarterly dividend of C$ 1.03 per share.
Manulife Financial (TSX: MFC)
The non-banking financial service company, Manulife, reported a net profit of C$ 2.97 billion in the first three months of 2022, up from C$ 783 million in Q1 2021. Its expense efficiency ratio also improved to 50 per cent in the latest quarter, higher than 48.5 per cent in Q1 2021.
This Canadian insurance company is also among the top dividend companies with a dividend yield of nearly six per cent.
Bottomline
Keeping in mind the volatility factor associated with stock investments, amateur investors may prefer to consider investing in these TSX bluechip stocks as they are known for stable returns over the years, despite
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TSX golds stocks to buy amid rising inflation
Gold prices normally increase in inflationary settings. Thus, gold stocks could perform well in comparison to other sectors. On Wednesday, the latest report by Statistics Canada revealed that the annual inflation rate spiked to 7.7 per cent in May, marking the fastest rate of rising consumer prices in over four decades.
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TSX golds stocks to buy amid rising inflation: KNT, YRI & G
Gold prices normally increase in inflationary settings. Thus, gold stocks could perform well in comparison to other sectors. On Wednesday, the latest report by Statistics Canada revealed that the annual inflation rate spiked to 7.7 per cent in May, marking the fastest rate of rising consumer prices in over four decades.
Highlights
Amid rising volatility, gold could act as a suitable inflation hedge.
The average Canadian’s life is becoming more expensive due to rising inflation.
Statistics Canada revealed that the annual inflation rate spiked to 7.7 per cent in May.
Gold prices normally increase in inflationary settings. Thus, Gold stocks could perform well in comparison to other sectors. On Wednesday, the latest report by Statistics Canada revealed that the annual inflation rate spiked to 7.7 per cent in May, marking the fastest rate of rising consumer prices in over four decades.
The average Canadian’s life is becoming more expensive due to the rising gas, food, and travel prices. Since January 1983, the cost of goods and services in Canada has not increased as swiftly. This has increased pressure on the Bank of Canada to increase interest rates in the coming weeks to control inflation.
Amid rising macroeconomic volatility, gold continues to be favoured as a suitable inflation hedge by some analysts due to its long-term association with equities markets. There is a great chance that an investment won’t be enough to support an investor’s retirement years if it cannot produce returns that outperform inflation.
As inflationary circumstances continue to intensify, we’ll explore the following gold stocks that you might want to add to your portfolio.
K92 Mining Inc. (TSX:KNT)
At the time of writing, the KNT stock had returned 27.4 per cent to shareholders since the start of 2022. Meanwhile, the KNT stock surged five per cent in the past week.
In Q1 2022, K92 posted record financial results regarding cash balance and monthly throughput. The company achieved a record cash position of US$ 79.9 million and strengthened its balance sheet.
Meanwhile, K92 achieved strong quarterly gold equivalent production of 28,188 oz in Q1 2022. For the three months ended March 31, the company’s throughput averaged 1,219 tonnes per day, a record for K92.
Net income for the gold mining company was US$ 14.1 million in the first quarter of this year.
Yamana Gold Inc. (TSX:YRI)
It is one of Canada’s largest precious metals companies and operates in various countries like Brazil and Argentina. On May 31, Gold Fields Limited announced that it would acquire Yamana at a valuation of US$ 6.7 billion.
Yamana’s first-quarter net earnings stood at US$ 57.8 million, and adjusted net earnings were US$ 83.6 million. Meanwhile, the cash flow from operating activities was US$ 151.7 million.
The company said its gold equivalent ounces production in Q1 2022 was in line with the expectations. Meanwhile, the gold production of 210,533 ounces exceeded the plan.
In the last six months, the YRI stock has soared 26.4 per cent and 25 per cent YTD.
Augusta Gold Corp. (TSX:G)
Augusta Gold’s main activities include buying and exploring gold assets. The company’s business operations are in Las Vegas, Nevada and on June 14, it announced that it had closed the acquisition of the Reward Project. Meanwhile, Augusta Gold acquired a low-cost Heap Leach Gold Project near its project in Nevada in April. The G stock commenced trading on the Toronto Stock Exchange in March 2021. Augusta Gold stock has returned around 44 per cent to shareholders quarter-to-date (QTD) and 49 per cent in the last six months.
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5 Canadian utility stocks to buy
June 23, 2022
Investors sensitive to risk often look for certain stocks that are less exposed to market fluctuations. Focusing on sectors, for instance, utility, which is less cyclical, can help investors identify such stocks.
Besides safeguarding from adverse market situations, utility stocks also provide dividend income. Even some Canadian utility companies are providing clean power produced from renewable energy to fuel the green energy transition.
Here are five TSX utility stocks that investors can look into for stable growth in the long run.
TransAlta Corporation (TSX: TA)
TransAlta recently rebranded its visual identity, including its logo and tagline, on June 20 to encapsulate its focus on a ‘carbon-neutral future’. The utility company doles out dividends every quarter (C$ 0.05 per share due on July 1).
TransAlta reported increased revenue of C$ 735 million in Q1 FY2022, higher than C$ 642 million in the same period a year ago. The power producer significantly improved on the net income front with a profit of C$ 186 million attributable to shareholders in the latest quarter compared to a loss of C$ 30 million posted in Q1 2021.
Hydro One Limited (TSX: H)
Hydro One is in agreement with First Nations communities to construct a ‘future’ electricity power grid in northwest Ontario. The electricity provider reported C$ 1.03 billion in revenues, net of purchased power, compared to C$ 917 million in Q1 2021.
Hydro One’s return on equity (ROE) was over nine per cent, denoting its financial profitability based on shareholders’ equity.
Capital Power Corporation (TSX: CPX)
Capital Power renewed its electricity purchase agreement (EPA) with BC Hydro on May 16 for its Island Generation site for 4.5 years. On July 29, Capital Power will disburse a quarterly dividend of C$ 0.547 per share.
Though its revenue and other income plummeted to C$ 501 million in Q1 2022, the utility firm posted an increased net profit of C$ 119 million in the latest quarter compared to C$ 101 million in Q1 2021.
Boralex Inc (TSX: BLX)
Boralex said its power production surged by three per cent year-over-year (YoY) in the quarter that ended on March 31, 2022. The power generator reported a 21 per cent rise in its revenues from energy sales and premium feed-in to C$ 227 million in Q1 2022. Further, its net profit improved by 17 per cent YoY to C$ 57 million in the latest quarter.
Canadian Utilities Limited (TSX: CU)
Canadian Utilities invested C$ 263 million in capital projects in Q1 FY2022. Out of this total investment, regulated utilities account for 83 per cent, while energy infrastructure accounts for 17 per cent.
Canadian Utilities posted C$ 227 million in earnings attributable to equity owners in Q1 2022 compared to C$ 141 million in the first three months of 2021. This TSX utility company also held a dividend yield of almost five per cent.
Bottomline
In addition to safety from market instability, these TSX utility stocks offer exposure to the green energy transition by making efforts toward carbon neutrality. Dividend income is another key advantage passive income investors generally look for while investing.
Location: Canada
Investors sensitive to risk often look for certain stocks that are less exposed to market fluctuations. Focusing on sectors, for instance, utility, which is less cyclical, can help investors identify such stocks.
Besides safeguarding from adverse market situations, utility stocks also provide dividend income. Even some Canadian utility companies are providing clean power produced from renewable energy to fuel the green energy transition.
Here are five TSX utility stocks that investors can look into for stable growth in the long run.
TransAlta Corporation (TSX: TA)
TransAlta recently rebranded its visual identity, including its logo and tagline, on June 20 to encapsulate its focus on a ‘carbon-neutral future’. The utility company doles out dividends every quarter (C$ 0.05 per share due on July 1).
TransAlta reported increased revenue of C$ 735 million in Q1 FY2022, higher than C$ 642 million in the same period a year ago. The power producer significantly improved on the net income front with a profit of C$ 186 million attributable to shareholders in the latest quarter compared to a loss of C$ 30 million posted in Q1 2021.
Hydro One Limited (TSX: H)
Hydro One is in agreement with First Nations communities to construct a ‘future’ electricity power grid in northwest Ontario. The electricity provider reported C$ 1.03 billion in revenues, net of purchased power, compared to C$ 917 million in Q1 2021.
Hydro One’s return on equity (ROE) was over nine per cent, denoting its financial profitability based on shareholders’ equity.
Capital Power Corporation (TSX: CPX)
Capital Power renewed its electricity purchase agreement (EPA) with BC Hydro on May 16 for its Island Generation site for 4.5 years. On July 29, Capital Power will disburse a quarterly dividend of C$ 0.547 per share.
Though its revenue and other income plummeted to C$ 501 million in Q1 2022, the utility firm posted an increased net profit of C$ 119 million in the latest quarter compared to C$ 101 million in Q1 2021.
Boralex Inc (TSX: BLX)
Boralex said its power production surged by three per cent year-over-year (YoY) in the quarter that ended on March 31, 2022. The power generator reported a 21 per cent rise in its revenues from energy sales and premium feed-in to C$ 227 million in Q1 2022. Further, its net profit improved by 17 per cent YoY to C$ 57 million in the latest quarter.
Canadian Utilities Limited (TSX: CU)
Canadian Utilities invested C$ 263 million in capital projects in Q1 FY2022. Out of this total investment, regulated utilities account for 83 per cent, while energy infrastructure accounts for 17 per cent.
Canadian Utilities posted C$ 227 million in earnings attributable to equity owners in Q1 2022 compared to C$ 141 million in the first three months of 2021. This TSX utility company also held a dividend yield of almost five per cent.
Bottomline
In addition to safety from market instability, these TSX utility stocks offer exposure to the green energy transition by making efforts toward carbon neutrality. Dividend income is another key advantage passive income investors generally look for while investing.
Location: Canada
Investors sensitive to risk often look for certain stocks that are less exposed to market fluctuations. Focusing on sectors, for instance, utility, which is less cyclical, can help investors identify such stocks.
Besides safeguarding from adverse market situations, utility stocks also provide dividend income. Even some Canadian utility companies are providing clean power produced from renewable energy to fuel the green energy transition.
Here are five TSX utility stocks that investors can look into for stable growth in the long run.
TransAlta Corporation (TSX: TA)
TransAlta recently rebranded its visual identity, including its logo and tagline, on June 20 to encapsulate its focus on a ‘carbon-neutral future’. The utility company doles out dividends every quarter (C$ 0.05 per share due on July 1).
TransAlta reported increased revenue of C$ 735 million in Q1 FY2022, higher than C$ 642 million in the same period a year ago. The power producer significantly improved on the net income front with a profit of C$ 186 million attributable to shareholders in the latest quarter compared to a loss of C$ 30 million posted in Q1 2021.
Hydro One Limited (TSX: H)
Hydro One is in agreement with First Nations communities to construct a ‘future’ electricity power grid in northwest Ontario. The electricity provider reported C$ 1.03 billion in revenues, net of purchased power, compared to C$ 917 million in Q1 2021.
Hydro One’s return on equity (ROE) was over nine per cent, denoting its financial profitability based on shareholders’ equity.
Capital Power Corporation (TSX: CPX)
Capital Power renewed its electricity purchase agreement (EPA) with BC Hydro on May 16 for its Island Generation site for 4.5 years. On July 29, Capital Power will disburse a quarterly dividend of C$ 0.547 per share.
Though its revenue and other income plummeted to C$ 501 million in Q1 2022, the utility firm posted an increased net profit of C$ 119 million in the latest quarter compared to C$ 101 million in Q1 2021.
Boralex Inc (TSX: BLX)
Boralex said its power production surged by three per cent year-over-year (YoY) in the quarter that ended on March 31, 2022. The power generator reported a 21 per cent rise in its revenues from energy sales and premium feed-in to C$ 227 million in Q1 2022. Further, its net profit improved by 17 per cent YoY to C$ 57 million in the latest quarter.
Canadian Utilities Limited (TSX: CU)
Canadian Utilities invested C$ 263 million in capital projects in Q1 FY2022. Out of this total investment, regulated utilities account for 83 per cent, while energy infrastructure accounts for 17 per cent.
Canadian Utilities posted C$ 227 million in earnings attributable to equity owners in Q1 2022 compared to C$ 141 million in the first three months of 2021. This TSX utility company also held a dividend yield of almost five per cent.
Bottomline
In addition to safety from market instability, these TSX utility stocks offer exposure to the green energy transition by making efforts toward carbon neutrality. Dividend income is another key advantage passive income investors generally look for while investing.
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3 blue-chip stocks with dividends creating buzz in 2022
Blue-chip stocks are those large and well-established companies that are known for their sound financial performance. They boast of having consistent earnings and are leaders in their respective sectors.
3 blue-chip stocks with dividends creating buzz in 2022
Highlights:
· Blue-chip stocks are huge companies with a firm financial footing
· Westpac Banking to pay 61.0 cps as dividend in June
· Fisher & Paykel Healthcare Corporation to distribute dividend next month
Blue-chip stocks are those large and well-established companies that are known for their sound financial performance. They boast of having consistent earnings and are leaders in their respective sectors.
Moreover, these companies are better prepared to pull through rocky market conditions owing to their reliable earnings and stable growth over time.
Hence, in this context, let us look at the three NZX-listed blue-chip stocks- Westpac Banking Corporation (NZX:WBC), Meridian Energy Limited (NZX:MEL) and Fisher & Paykel Healthcare Corporation (NZX:FPH).
Westpac Banking Corporation (NZX:WBC; ASX:WBC)
One of the largest providers of banking and financial solutions across NZ is Westpac Banking Corporation, boasting a market cap of about NZ$86 billion.
The bank has entered into a deal with Mercer to integrate BT’s superannuation funds and has agreed to let Mercer Australia take over its Advance Asset Management business. Both of these are likely to be completed by mid-2023.
Last month, WBC revealed its 1H22 results, wherein its cash earnings climbed 71%, and statutory net profit clocked NZ$3,280 million, up 63% on 2H21, majorly attributed to an improvement in efficiency and a significant reduction in costs. It will pay 61.0 cps as an interim dividend on 24 June.
Despite inflationary conditions and rising interest rates, Westpac looks positive for the year ahead and aims to further refine its operating model so as to enhance accountability towards its customers and deliver better returns for its investors.
At the closing bell on 9 June, WBC was down 4.11% at NZ$23.550.
Meridian Energy Limited (NZX:MEL; ASX:MEZ)
One of the country’s largest electricity generators is Meridian Energy Limited, having a market cap of over NZ$12 billion.
A few days back, the Company revealed that the Potline 4 contract, which was suspended, has now been extended till September-end 2022.
In its 1H22 results, the energy giant reported an NPAT and EBITDAF of NZ$145 million and NZ$394 million, respectively, on account of continued growth in retail sales. Also, it paid an interim dividend of 5.85 cps in April 2022. Median Energy is focused on delivering excellent customer services as well as enhanced returns both to its shareholders and other stakeholders.
At the closing bell on 9 June, MEL dipped 1.88% at NZ$4.710.
Fisher & Paykel Healthcare Corporation Limited (NZX:FPH; ASX:FPH)
Fisher & Paykel Healthcare Corporation Limited is a famous manufacturer of medical products and systems, which are sold in nearly 120 countries across the globe and has a market cap of about NZ$12 billion.
The Company has appointed Tracey Barron as its Future Director. Also, despite facing elevated freight rates, FPH recorded operating revenue of NZ$1.68 billion, and its NPAT stood at NZ$376.9 million in FY22 results. It will pay a final dividend of 22.5 cps on 6 July, thus bringing the full-year dividend to 39.5 cps.
FPH continues to advance its manufacturing capacity and expects to grow its investment in R&D so as to create the best possible outcomes for patients.
At the closing bell on 9 June, FPH declined 1.51% at NZ$20.260.
Bottom Line
Over the years, blue-chip stocks have emerged as a preferred investment option due to their strong fundamentals and their ability to pay dividends even during market downturns.
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Will Convey Health IPO happen again or is it just speculation?
Will Convey Health IPO happen again or is it just speculation?
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