Now’s as great a time as ever to start thinking about readjusting one’s portfolio. Some investors do so every quarter, and we’re nearing the home stretch on Q1.
For those looking to make a few moves, and are looking for the best candidates, I’ve found three stocks I think you’ll like.
This company is not only a Dividend Aristocrat, but it’s also one of Canada’s best.
Fortis’ track record of dividend growth is really unparalleled in my view. Many companies focus on providing growing dividend distributions each year, but few have done so at the scale Fortis has over the past five decades.
Fortis’ core regulated utilities business is about as stable as any out there right now. For those concerned about volatility on the horizon, and value capital preservation as a top goal, this stock is a great way to achieve that.
A former growth stud on the TSX, shares of Restaurant Brands have waned in recent years. The pandemic hasn’t helped, and has hit the company’s core in-restaurant dining business hard. The broader market has turned sour on companies with high levels of sensitivity to pandemic-related lockdowns and restrictions.
Here’s the good news.
There’s now hope that the U.S. could begin to return to normal as soon as July 4th. Biden’s recent announcement that vaccine eligibility should open up to all Americans by May 1 is very bullish for reopening plays like Restaurant Brands.
Accordingly, for those seeking growth coming out of the pandemic, there are few stocks that are as cheap as Restaurant Brands in this category right now.
However, what differentiates this stock from Fortis is the company’s impressive renewable energy portfolio. Algonquin’s been aggressively expanding its renewable energy portfolio of assets in recent years. With capital inflows into this sector exploding, this is a stock that has not taken off to the degree the wider renewables sector has.
Perhaps that’s because the majority of the company’s utilities-based revenues are locked in via regulated contracts. However, I think the mix of growth and defensiveness this stock provides is much more valuable than what the market is pricing in right now.
Indeed, this is a top stock investors looking for defensiveness and yield should consider today.
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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.
Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool recommends FORTIS INC and RESTAURANT BRANDS INTERNATIONAL INC.