What’s up guys, it’s wiz.
Welcome back to the channel. If you are new, I am a Canadian investor. I cover a whole lot of information about investing in Canada and do research into our Canadian market. I dive into growth investing, dividend investing and Canadian small caps / penny stocks. Today, I will be going over 3 outstanding Canadian stocks that are probably some of my favorite Canadian companies currently. These are great stocks to add to your portfolio that can appeal to growth and income investors. Finding the right mix of stocks for your portfolio takes time and plenty of patience. Fortunately, the market gives us plenty of options to consider. Among those options are some truly stellar options, such as the following 3 TSX stocks that I will be going over. For new investors, you need to join Wealthsimple Trade if you are looking to start investing and live in Canada. If you use my link in the description to join Wealthsimple, you get 2 free stocks worth up to 4500$ so do not miss out. Do not forget to follow the channel and leave a like on this video since I am one of the main channels that is dedicated to talking about Canadian stocks.
Toronto-Dominion Bank (ticker symbol TD) is the first of my favourite TSX stocks to consider. To be fair, Canada’s big banks are always a great option to consider for your portfolio. But as to what makes TD that stellar option for your portfolio, there are several key reasons. First and foremost, TD boasts a stable and reliable domestic segment. In the most recent quarter, that segment earned $2,236 million, reflecting a humble 2% increase over the prior year. Keep in mind that overall, the bank earned $3,811 million in the quarter. In other words, that domestic segment fuels a good chunk of TD’s earnings. This allows the company to invest in growth, which leads me to the second point. Few Canadians may realize this, but TD has a sizable presence in the U.S. that is rapidly growing. In fact, TD’s U.S. branch network is now larger than its domestic market, stretching from Maine to Florida. That growth is set to accelerate further thanks to TD’s deal to acquire First Horizon bank, which will expand the bank’s market in the southeastern U.S. Finally, let’s talk dividends. TD has been paying out generous dividends without fail for over a century. The current yield works out to 4.24%, making it one of the better-paying options on the market.
Enbridge (ticker symbol ENB) is another great addition to a list of favourite TSX stocks to consider. The energy infrastructure giant may be best-known for its substantial (and very defensive) pipeline network, but it does offer more. Don’t get me wrong; that massive pipeline network generates cash for the company and is often compared with a toll network. But I would be remiss if I didn’t mention Enbridge’s renewable energy segment. Over the past two decades, Enbridge has invested billions into building a renewable energy portfolio. That investment will continue to grow over the long term and offer an alternative (and diversify itself) from its better-known pipeline business. Prospective investors should also note that Enbridge is also one of the largest natural gas utilities on the continent. This adds an additional element of diversification to an already lucrative investment. Turning to income, Enbridge has one of the best-paying yields on the market. The dividend works out to a big yield of 5.98%.
Rounding out the list of favourite TSX stocks to consider is RioCan Real Estate (ticker symbol REI.UN). RioCan is one of the largest real estate investment trusts (REITs) in Canada, with a massive portfolio of over 230 properties. RioCan’s portfolio has historically consisted of mostly commercial and retail properties, but that allocation is shifting. Specifically, that shift is more towards residential. RioCan has a growing number of mixed-use properties situated on high-traffic transit routes in Canada’s metro areas. In short, these are appealing options to people that were otherwise priced out of the overheated real estate market. As an investment, RioCan is great for prospective investors that are considering a rental property. Specifically, RioCan provides a monthly distribution like a rental property, but without much of the risk associated with renting. Perhaps best of all, that risk is spread out over hundreds of units instead of one property, and there’s no down payment requirement. RioCan’s monthly distribution has a yield of 4.96%. This means that a $50,000 investment, which is far less than a typical down payment, will earn a monthly income of $206. Even better: investors not ready to draw on that income yet can reinvest it until needed, allowing that income to grow even more.
Hope you guys enjoyed some of my favorite Canadian picks, these have a good amount of potential ahead so if interested make sure to always do your own due diligence before investing into any of the mentioned companies. If interested in more Canadian tools for your investing, check out the kofi link in the description to get access to my custom excel of my stock portfolio and my holdings. I also have a free Canadian investing blog for investors if you prefer reading over videos, head over to unwiz.com if interested. Please watch my previous videos on Canadian stock recommendations and let me know of any Canadian stocks you want me to look into and give my opinion on. Let me know in the comments, since I really want to expand my knowledge in the Canadian market, and you also expand your own knowledge by asking questions. It is a win-win situation. If you did enjoy this video, leaving a like really helps grow the channel! Thanks for watching, I’ll see you guys in the next video!