Today, Rebecca Teltscher and The Panic-Proof Portfolio (Stockchase Research) commented about whether BLX-N, URB-T, TOL-N, NOG-N, CPA-N, PBH-T, BEP.UN-T, NFI-T, CPX-T, RCI.B-T, AQN-T, BMO-T, NPI-T, BCE-T, PPL-T, MG-T, BNS-T, PKI-T, EIF-T, FTS-T, CNQ-T, QSR-T, SIS-T are stocks to buy or sell.
What she does for clients is to take the dividend in cash. The DRIP is not a bad thing for accumulating stocks, but her firm likes to have a bit more control. Dividends come in, and they get to choose where to deploy them. This way gives you more flexibility.
For example, she owns AEM which has done very, very well. Instead of "dripping" in more shares at the elevated level, she'd rather put the dividends to work in something that's underperformed, is at a lower valuation, or has a higher yield.
Since she's a little nervous about the markets, she's taking dividends and putting them into money market funds as she waits for a market pullback.
Sold off renewables (still owns some hydro), transitioning to pure-play utility. Stock was up 10% after last month's investor day, so it appears that investors believe in its back-to-basics strategy. Up 20% YTD, outperforming others. Demand for energy continues to increase. This company isn't going anywhere, and it has the best valuation amongst peers.
Turnaround story. She's holding, though may not own it forever.
All telcos have been facing highly competitive pricing environment, slowing immigration targets, and lots of infrastructure capex. Better payout ratio, as it didn't raise dividends as much as others. So the dividend is safe. Debt issue from MLSE deal; sports assets are valuable, but not necessarily cashflow positive.
One of only 2 names she owns with no dividend. For her to do that, she really has to have conviction on the company and its stock price trajectory. Biggest segment is manufacturing transit buses, also does coach buses. Supply chain issue with seats is slowly getting alleviated. Backlog at record levels. Pricing environment is good.
Very limited competition, as pandemic wiped out most of their peers. Public funding is still strong. One of the only companies that complies with buy-American-zero-emissions policy. No dividend.
Need for energy and power continues to increase. About half its assets are hydro, which she likes for long-term growth. Geographic and asset diversification. Huge deal with MSFT, which should increase production by ~33%. Joint venture with CCO to do Westinghouse nuclear servicing, and she's bullish on clean energy. Poised to do well. Yield is 5.77%, and dividends grow 5% a year.
(Analysts’ price target is $39.39)Turnaround story. Growth trajectory will be completely agnostic to what's going on in the economy right now. Costco Canada is one of its biggest clients, and now Costco USA is asking for its products. Has spent millions on US expansion; they had the orders, but didn't have the capacity. That capex is almost done, and they've had 2 really strong quarters of earnings.
Growth in US is starting to take off. Pretty tariff agnostic, as production in both US and Canada means they don't have much cross-border traffic. Dividend usually grows ~10% a year, but probably not this year due to the buildout and M&A activity. She's happy to wait for the dividend growth if it means better growth overall down the road. Yield is 4.14%.