Whether just starting out or highly experienced, investors are always in the market for stocks that look like a “steal”. As we head into 2020, here is a snapshot of where some choice companies sit among their broader marketplaces.
Energy:
Looking broadly at the energy sector, shares in companies such as Enbridge Inc. (TSX:ENB) have been seeing a decent run-up as we close out the year. Volatility is always a given in this sector, but the latest trend is pointing slightly lower, opening the door to a decent jumping-on point. Here are some other choice stocks that are either climbing higher or could likely turn higher in the near future.
- Fortis Inc. (TSX: FTS)
- Emera Inc. (TSX: EMA)
- Husky Energy (TSX:HSE)
- Algonquin Power & Utilities Corp. (TSX: AQN) - A provider of natural gas, water, and electricity generation, transmission and distribution utility services to roughly 801,000 connections in the United States and Canada.
- Canadian Natural Resources (TSX: CNQ) - Canada's largest independent natural gas producer and holds 100% ownership in most of its assets and facilities.
Financial:
As the central bank mulls cutting interest rates, the financial sector has been a frequent drag on Canada’s main stock index as of late, which can open up opportunities for investors. Many major shares within this market have been trading over their historical price-to-earnings ratio (P/E) or are currently undervalued.
Other Utilities:
This market has been the most interesting of all, from a stock performance perspective, because of its diversity of offerings, but also growth of business as infrastructures in Canada and the United States grow with increasing populations.
Nutrien (TSX: NTR) - Created in 2018 as a result of the merger between PotashCorp and Agrium, Nutrien is the world's largest fertilizer producer by capacity.
Stella-Jones Inc. (TSX: SJ) - Produces and sells lumber and wood products to the railway, utility pole, residential lumber, outdoor and marine industries.
These are just a few stocks out there that could be classified as “not overpriced” for investors looking for a good place to start across some of the biggest markets. Their performance is dependent on a variety of factors and value between them is relative to a number of considerations. Who are you adding to your portfolio as a potential bargain buy or value stock? Let us know in the comments below.