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Highlights
- If you are a new investor, you may start by looking at already familiar businesses.
- Canadian National's (TSX:CNR) revenues were C$ 3,708 million, up by 5% year-over-year.
- The CPX stock is among the top utility stocks in Canada.
Taking charge of your finances is important as it is a very crucial step in life. However, not many people are comfortable taking control of their finances due to several doubts.
Not taking control of your finances is understandable as people find the process intimidating. This is especially true now, as the stock market is going through turbulent times. Nevertheless, new investors should adhere to certain principles no matter how the market is doing.
If you are a new investor, you may start by looking at already familiar businesses. This is because you ought to be acquainted with how such businesses operate and how they make money.
Let's explore the following stocks you might want to consider for your portfolio:
Canadian National Railway Company (TSX:CNR)
It is a blue-chip company and has an experience running business for over 100 years. Canadian National's rail network spreads 20,000 miles in Canada and the United States.
The railway company is a dividend aristocrat, and it last announced a quarterly dividend of C$ 0.733 per unit. Meanwhile, the dividend yield is 2.05 per cent.
In Q1 2022, Canadian National's revenues were C$ 3,708 million, up by 5 per cent year-over-year (YoY). Meanwhile, the free cash flow increased to C$ 571 million from C$ 539 million in Q1 2021.
In 2022, the company expects to achieve around 15-20 per cent growth in adjusted diluted earnings per share (EPS).
Capital Power Corporation (TSX:CPX)
It is one of the largest power producers in Canada and generates most of its revenue through natural gas distribution and electricity sales.
Utility companies carry on with their business operations, irrespective of volatile market conditions. Also, as its services are essential, some analysts believe that the consumers don't get affected much by higher inflation and interest rates.
Capital Power posted strong financial results in the first quarter, generating a net income of $119 million.
Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
