TSX Today: 2 Canadian Giants to Buy
The Motley Fool
Published Jun 12, 2021 15:30
Updated Jun 12, 2021 15:45
TSX Today: 2 Canadian Giants to Buy
The TSX today is home to many high-quality stocks for Canadian investors to choose from. As such, investors deploying all sorts of investing styles can find suitable stocks.
For long-term, dividend-driven investing, there is a wide range of stocks — that is, the TSX offers many blue-chip stocks to Canadian investors at attractive prices.
In the long run, stability is key, especially in terms of dividend investing. After all, a massive dividend won’t do investors any good if it’s destined to be chopped.
Investors stand to make solid returns with the top Canadian stocks, but only if they avoid yield traps too. Today, we’ll look at two top dividend TSX stocks ideal for long-term investing.
Telus Telus (TSX:T)(NYSE:TU) is one of the top telecom stocks on the TSX today. It offers a wide range of products and services through its subsidiaries, namely Telus Communications.
These products include cell service products, entertainment and TV, internet solutions, digital healthcare, and more. Telus has a wide moat of revenue sources that help it grow while maintaining rock-solid stability.
In fact, Telus is one of the most attractive dividend stocks on the TSX today. As of this writing, it’s trading at $27.48 and yielding 4.6%. While the stock has offered higher yields in the past, it’s worth noting the current market conditions.
Telus is also built to move forward, as it has some high-growth potential in sectors like digital healthcare like Telus Health. This could be a key driver for Telus moving forward and help it deliver great value to investors.
Over time, there’s no doubting the total-return potential with a stock like Telus. Investors get a bit of the best of both worlds in that Telus offers respectable growth coupled with a solid dividend.
Fortis Fortis (TSX:FTS)(NYSE:FTS) is a massive Canadian utility stock and one of the top defensive dividend stocks on the TSX today.
Fortis, through the subsidiaries it holds, provides a wide range of utility services across multiple. This helps it offer a stable dividend stream to its investors.
However, it’s incredible reliability comes from just how those services are provided. That is, Fortis provides most of its services through regulated and controlled contracts.
This means that revenue is secure, predictable, and dependable for Fortis. That translates to a rock-solid dividend for investors and very few surprises when it comes to earnings.
Fortis is one of the top defensive stocks on the TSX today due to this as well. Investors can count on the utility giant to bring in the revenue no matter the market conditions.
This is also demonstrated by its beta of 0.05, implying the stock doesn’t move in step with the markets.
Get The App
As of this writing, this TSX giant is trading at $56.38 and yielding 3.58%. That’s not a bad yield for investors looking for a defensives stock on the TSX today.
Canadian stocks to buy on the TSX today Both T and FTS offer investors solid value for long-term dividend investing. These Canadian giants can deliver great total returns over time for those patient investors.
The post TSX Today: 2 Canadian Giants to Buy appeared first on The Motley Fool Canada.
Fool contributor Jared Seguin has no position in any of the stocks mentioned. The Motley Fool recommends FORTIS INC and TELUS CORPORATION.
This Article Was First Published on The Motley Fool
Written By: The Motley Fool
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.