President at Newhaven Asset Management
Member since: Jan '13 · 1226 Opinions
Canadian stocks are now outperforming the Nasdaq - even a small rotation is meaningful. There are good long term investor returns from Canadian dividend stocks. The TSX has been held back by financials - and oil stocks too. We have seen Meta and Google start to employ dividends so maybe this type of stock could be the dividend payer of tomorrow. Infrastructure based companies have a long term capital intensive network which is hard to replace. He is excited about Western Canadian natural gas which is really starting to grow. Interest rates are spuriously related to dividend stocks but the real tailwind for them is the growth opportunities which is more important.
This could be held long term since there should be a re-rate opportunity with new management coming in and cleaning up the balance sheet. It could be similar to the recovery of Alta Gas.
He owns infrastructure renewables as the best way to own some Brookfield companies. He is watching BAM but doesn't own. The units have a tax advantage for Canadian investors. It has a higher dividend yield and stability. A good hold.
It is more attractive with the re-structuring which gives it more liquidity. He is cautious on the consumer space in a slowing economy. There is a broader consumer issue bubbling below the surface and he will watch how it plays out.
He owns personally and for clients. It is one of the best managed companies in the space. Cash flow growth leads to share buybacks. LNG in Canada means big growth possibilities. . We're not there yet but there are big opportunities in natural gas. There is big demand in the U.S.
He has owned it for a long time and is overweight for clients. He is not buying more at these levels but also not selling. It is still reasonably valued and pays a 4 1/2% dividend.
It has been a poor performer in the past 12 months but is pretty well positioned now with good assets over the long term. Free cash flow should start to expand so it is good to buy at these levels. The dividend is sustainable.
It is part infrastructure and part royalty which is a good combination. It is well run and you could continue to hold. He owns this space in other ways.
It has good fundamentals and he likes it. Management is looking to increase the dividend and is moving along faster than expected. In general you should continue to hold good companies with good fundamentals through downturns and maybe buy more.
He is not so sure of the exports fundamentals. Its biggest asset is in Texas and the concentration of assets for oil exports off that coast could be a concern. OK to hold.
He likes it but doesn't own it. He owns Arc instead. Tourmaline owns more dry gas. Natural gas has been a tough commodity year to date but is a solid investment in the medium to long term
It is well positioned on the natural gas side and the market has been way too negative in the past year. The slimmed down company will be almost a pure play on natural gas, transport and power.
The pandemic hurt them with supply chain troubles. It is well run and the balance sheet should get better. It is the only game in town for municipalities buying buses. He thinks the dividend gets re-instated in 2025 or 26.
It is long term infrastructure opportunity. He likes transmission and utilities assets and is in Florida which is a high growth area. The dividend is still growing. In general buy stocks that have growth opportunities over the next decade.
It is OK at these levels but cleaning up is needed. There is a question around whether the CEO is just in a caretaker role. He owns a small position. Has a good yield.