5 Canadian Blue Chip Stocks to buy (CNR, CP, ENB, BNS, and MFC)

Macroeconomic factors like inflation, the Ukraine crisis, rate hikes, increased borrowing costs, etc. continue to broadly impact the global stock markets. In such market situations, equity investors generally prefer safe equities like Bluechip stocks to ensure some stability.

Canadian National Railway (TSX: CNR), Canadian Pacific (TSX: CP), Enbridge (TSX: ENB), Scotiabank (TSX: BNS) and Manulife Financial (TSX: MFC) are five TSX Bluechip Stocks that can be explored for stable returns in the long term.

Now, let us talk about these five TSX bluechip stocks.

Canadian National Railway (TSX: CNR)

Canadian National announced its plan to invest about C$ 430 million in Ontario this year on Wednesday, June 22, to ensure sustainable growth and improve its capacity to transport of goods via its transcontinental network.

Canadian National posted a five per cent surge in revenues in Q1 2022 compared to first quarter of 2021. The railway company also reported increased free cash flow of C$ 571 million in the latest quarter, higher from C$ 539 million in Q1 2021.

Canadian National is supposed to deliver C$ 0.733 per share as a quarterly dividend on June 30.

Canadian Pacific Railway Limited (TSX: CP)

Canadian Pacific Railway Limited (TSX: CP) is another major railroad operator that enables movement of numerous goods across Canada and into some parts of the US.

The Canadian railroad said that its non-freight revenue increased to C$ 42 million in Q1 2022 from C$ 42 million a year ago. However, this increase was offset by decline in freight revenue resulting in total revenues of C$ 1.83 billion in Q1 2022 compared to C$ 1.95 billion a year ago. In addition to this, Canadian Pacific is set to disburse a quarterly dividend of C$ 0.19 on July 25.

Enbridge (TSX: ENB)

Enbridge agreed to provide transportation capacity to Plaquemines LNG facility of Venture Global on May 26. The energy firm is advancing its two Texas Eastern Transmission, LP projects to supply natural gas of 1.5 billion cubic feet a day to this new sanctioned facility.

Enbridge is one of the top dividend paying companies in Canada with a dividend yield of over six per cent.

Bank of Nova Scotia (TSX: BNS)

Scotiabank reported a growing net profit of C$ 2.74 billion in the second quarter of 2022 relative to C$ 2.45 billion in Q2 2021. Its profitability also improved with a return on equity (ROE) of 16.2 per cent in the latest quarter compared to 14.8 per cent in Q2 2021.

On July 27, Bank of Nova Scotia will deliver a quarterly dividend of C$ 1.03 per share.

Manulife Financial (TSX: MFC)

The non-banking financial service company, Manulife, reported a net profit of C$ 2.97 billion in the first three months of 2022, up from C$ 783 million in Q1 2021. Its expense efficiency ratio also improved to 50 per cent in the latest quarter, higher than 48.5 per cent in Q1 2021.

This Canadian insurance company is also among the top dividend companies with a dividend yield of nearly six per cent.

Bottomline

Keeping in mind the volatility factor associated with stock investments, amateur investors may prefer to consider investing in these TSX bluechip stocks as they are known for stable returns over the years, despite 

Comments

Post a Comment

Popular posts from this blog

Look at Top 5 Dividend Stocks On The NZX

Image
  Summary Top 5 Dividend Stocks  are the ones that have a high yield, strong fundamentals and a consistent dividend payment history. Dividends are a steady source of income for the shareholders. ·          Top dividend stocks have good dividend yield ·          Their fundamentals are also strong ·          They have enough cash-reserves to consistently reward their shareholders Dividend Stock  are the ones that have a high yield, strong fundamentals and a consistent dividend payment history. Dividends are a steady source of income for the shareholders. However, the stocks should be picked very carefully. Dividend yields should not be the only consideration, but one should look at stock performance and company’s financials. Let’s look at 5 Top Dividend Stocks on the NZX on the basis of their yield, history and stock performance Australia and New Zealand Banking Group ( NZX:ANZ ;  ASX:ANZ ) It is an Australian bank with operations in New Zealand with a market capitalisatio
Read more

Best utility stocks in Canada to buy amid volatility: CU, AQN & FTS

  Utility stocks   can be a useful addition to an investment portfolio to diversify risk and produce stable cash amid current volatility. These stocks might come in handy due to rate-regulated activities and the ability to produce predictable cash flows. Highlights · Utility companies provide necessary services like natural gas distribution and power transmission. · Utility stocks might come in handy due to rate-regulated activities. · Canada’s inflation rate soared to a record high in about 40 years after it increased to 7.7 per cent. Additionally, utility companies’ low-risk operation and solid earnings foundation underpin their dividends and reduce their volatility. Utility companies provide necessary services like natural gas distribution and power transmission. Most of these businesses are well-established, with deep roots in the market. Hence, during times of rising inflation, these companies are expected to continue their business operations as usual. Consumers avail the service
Read more

Musgrave Minerals (ASX:MGV) reports action-packed June 2022 quarter

  Musgrave Minerals Limited ( ASX:MGV ) is an Australian explorer and developer committed to developing a sustainable and profitable gold mining business. The company has reported its progress for the quarter ended 30 June 2022. In June quarter, MGV updated resource at the Cue Gold Project, with a 41% increase in resources to 12.3 Mt @ 2.3g/t Au for 927,000 oz gold. This represents 47% of the total project Mineral Resources and provides a boost to MGV’s resource confidence. More Information Click on Link :- Souse Link  —  https://kalkinemedia.com/au/sponsored/musgrave-minerals-asxmgv-reports-action-packed-june-2022-quarter
Read more