AUS
NZ
UK
CA
USA
IND
Highlights:
- Fortis Inc. has a dividend yield of 051 per cent.
- Boralex Inc has a market cap of C$ 4.02 billion.
- Emera Incorporated has a three-year dividend growth of 3.57.
The TSX utility sector is a major part of the Canadian exchange, with investors looking to put their bets on these stocks. However, when the market is volatile, it is a different scenario as in any sector, be it utility or any other, the risks and uncertainties are immense.
When we talk about the TSX utility sector, some companies like- Fortis Inc. (TSX:FTS), Boralex Inc. (TSX:BLX), and Emera Incorporated (TSX:EMA).
Here, we will look at these three TSX utility stocks and their recent financial performances:
Fortis Inc. (TSX: FTS)
Fortis runs 10 utility distribution and transmission assets in the US and Canada with a customer base of over 3.4 million who regularly use their electricity and gas supplies.
The company holds a dividend yield of 4.051 per cent and it paid a quarterly dividend of C$ 0.565 per share.
The prominent utility company in Canada has a market capitalization of C$ 26.79 billion.
Fortis reported Q3 2022 net earnings of C$ 326 million or C$ 0.68 per common share. It is an increase from C$ 295 million or C$ 0.63 per common share from the same quarter a year ago. The company said that its C$ 4 billion annual capital plan is on track, of which C$ 2.9 billion has already been invested through September.
Boralex Inc. (TSX:BLX)
The power producer company, Boralex, has a market cap of C$ 4.02 billion. The firm that owns the power-generating assets in wind, hydroelectric, solar, and thermal technologies paid its shareholders a dividend of C$ 0.165 apiece.
The BLX stock had surged 15 per cent year-to-date (YTD) at the time of writing. In the third quarter, Boralex achieved revenues of C$ 101 million from energy sales and feed-in premiums. Meanwhile, the net cash flows related to operating activities jumped to C$ 90 million, up by 90 per cent year-over-year (YoY).
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Emera Incorporated (TSX:EMA)
Emera is an energy and services company involved in generating electricity, transmission, and distribution with a market cap of C$ 14.35 billion. Emera holds a dividend yield of 5.16 per cent. Its three-year dividend growth is 3.57.
The adjusted EPS of Emera in Q3 2022 grew C$ 0.08 or 12 per cent to C$ 0.76 compared to C$ 0.68 in the third quarter of 2021.
The company said it is on track to invest C$ 2.7 billion of capital in fiscal 2022.
Bottom line:
As an investor, be aware of the market trends before putting your bets on any stock. Especially during a bearish phase, traders should adopt a long-term plan and diversify their portfolios to cut any risk of losing money due to market volatility. Do thorough market research while choosing your stock.
Please note, the above content constitutes a very preliminary observation based on the industry 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.
