Fortis Inc. (FTS.TO)

He's avoiding utilities because of rising rates, but Fortis can grow its dividend and he likes it, performing well. Buy at closer to $40.

(A Top Pick Jul. 23/18, Up 5%) He was looking at a really safe investment. 90% of revenue is from regulated utilities. We have seen a rotation into this as the market has gone down. At this point he feels there are better opportunities elsewhere.

(Past Top Pick Sept. 13, 2017, 0% return) A diversified company. They've made large acquisitions in U.S. power. He still likes it and owns it. True, utilities are exposed to interest rate rises, but he has faith in Fortis' management. He likes their U.S. exposure.

Recently added to his position. Offers non-cyclical stability. 97% of their assets are rate-regulated which insulates shareholders from changes in commodity prices and economic conditions. It pays a consistent and growing dividend which will continue to grow at 6% annually in the next five years. Thre's also a $17 billion capital expansion plan. (4.17% dividend yield, Analysts' Price Target $47.43)

He has loved this one. He has not been into it for a while. He got out because of a change to the fixed income market. It really likes $40 as a support. You could probably wait to get in until it touches $40. There is no rush right now.

(A Top Pick October 5/17 Down 5%) He would have thought it would have held in well and now feels it could go a bit lower. These are companies that tend to bottom when the market tops. He will continue to hold it.

This has been a quality Canadian company that has rolled up utilities across North America. Rising rates will put a squeeze on all utility companies. This is a great company; there is no reason to sell it, but he can’t get excited enough to buy it here. (Analysts’ price target is $48)