Canada's Best: Enbridge, BCE, Telus, and Brookfield
Investors seeking exposure outside of the U.S. may consider Canadian-based stocks on the TSX.
Last week, Enbridge posted first-quarter non-GAAP earnings of C$1.03 a share. It reiterated its 2025 financial guidance. It expects DCF per share of between C$5.50 and C$5.90. Growth from 2023 through 2026 will be between 7% and 9%. Income investors may consider TC Energy (TRP) and PPL (PPL), both of which are in the pipeline sector.
BCE (BCE) finally cut its dividend when it announced first-quarter results. Shares now pay a $0.4375 quarterly or $1.75 a year. This is down from $3.99 annually. BCE stock rose after PSP Investments committed $1.5 billion to its Ziply Fiber acquisition. BCE is buying Ziply for $3.6 billion. Ziply has around 1.8 million residential and business locations.
Telus (TU) spiked to the $16 resistance level on the NYSE, up by 7.10% on May 9. It raised its dividend by 3.5% after reporting its first-quarter results. Revenue grew by C$5.05 billion, up by 2.4% Y/Y.
Brookfield (BAM) is the most compelling investment. In Q1, revenue was $1.08 billion. Fees increased to $698 million, up from $649 million sequentially. Watch for BAM stock to trade above $60 on the NYSE in the weeks ahead. Despite its overvaluation, BAM stock offers growth and profitability. Momentum continues to lift the stock.
