Kalkine Media explores two TSX utility stocks, should you watch them?

January 27, 2023 07:29 PM AEDT | By Mridul Gogoi

Kalkine Media explores two TSX utility stocks, should you watch them? — Image source: © Lester69 | Megapixl.com

Fortis Inc. (TSX:FTS)

Fortis owns and runs utility distribution and transmission assets, providing their service to more than 3.4 million electricity and gas customers in the US and Canada.

Fortis has a dividend yield of 4.044 per cent and three-year dividend growth of 5.13. The EPS of Fortis is 2.70, and its P/E ratio is 20.70.

In the third quarter of 2022, Fortis posted net earnings of C$ 326 million, or C$ 0.68 per common share, compared to C$ 295 million, or C$ 0.63 in Q3 2021. On the other hand, the adjusted net earnings in the reported quarter of 2022 were C$ 341 million versus C$ 300 million in the year-ago quarter.

Algonquin Power & Utilities Corp. (TSX:AQN)

Algonquin Power is Liberty's parent company, a global diversified transmission and distribution utility. The company paid a quarterly dividend of US$ 0.181 with a dividend yield of 10.244 per cent.

The company reported Q3 2022 revenue of US$ 666.7 million, up 26 per cent from US$ 528.6 million in Q3 2021.

The adjusted net earnings in the third quarter of 2022 were US$ 73.5 million compared to US$ 97.6 million in the year-ago quarter.

Algonquin Power posted Q3 FY22 adjusted EBITDA of 276.1 million compared to US$ 252 million in the same period in 2021.

Bottom line

Investing has indeed become challenging now due to market volatility. However, with a long-term plan and diversifying one’s portfolio, an investor can protect his money until the market settles down. Do in-depth research before making any decision.

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.

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