5 Top Picks to Surf on the Short-Term Relief From Trade Tensions Rally — Weekly Top Picks
Top Pick #5 : A growth utility
Algonquin Power Utilities Corp.
Bruce Campbell, President at Campbell and Lee InvMngmnt recommends Algonquin Power & Utilities Corp (AQN-T), “It’s a growth utility. It offers decent yield, but also 8-10% yearly growth. He thinks AQN will be serial raisers of their dividend.
It’s pulled back like all utilities, so under the current $13 is a good entry point. He expects a price rise to $14 plus the dividend.”
Algonquin Power & Utilities Corp announced its plans expand its regulated and unregulated operations by investing $6.4 billion. As part of its global expansion the company bought 41.5% stake in Atlantica Yield (AY).
It has posted excellent revenue and earnings growth in the past twelve months. Its expansion initiatives should position it in a much better growth stand point in the coming quarters.