Nobody mentioned top pick yet on BNN - Ryan Bushell
Algonquin Power and Utilities (AQN TSX)
Last bought at $18.50
Algonquin Power and Utilities has an ideal balance of steady utility cash flow and renewable development opportunities. The company has performed poorly recently as investors seem worried about the prospect for both rising rates and rising energy costs to hamper utility returns.
This is a shorter term view that creates a buying opportunity with the stock yielding nearly 5 per cent. Longer term, the world needs increasing amounts of cleaner energy and Algonquin is well positioned to take advantage of this secular trend, while paying a steadily increasing dividend.
GLTA