We looked at a wide range of stocks before settling on CAE as our #1 pick for 2015. Here are the top three runners-up. All are highly attractive buys, but we feel CAE offers a better mix of long-term potential and low risk.
CANADIAN NATIONAL RAILWAY CO. $78(Toronto symbol CNR; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 809.3 million; Market cap: $63.1 billion; Price-to-sales ratio: 5.5; Dividend yield: 1.3%; TSINetwork Rating: Above Average; www.cn.ca) has several key advantages that put it in a strong position to profit from an improving North American economy.
For example, it’s the only railway that accesses all three coasts: Atlantic, Pacific and the Gulf of Mexico. As well, CN owns an exclusive line that lets it avoid major bottlenecks in the Chicago area.
To top it off, lower fuel costs will enhance CN’s industry-leading efficiency rates. Crude-by-rail and fracking sand volumes should also remain steady, even with recent oil price drop.
CN Rail is a buy.
TORONTO-DOMINION BANK $51(Toronto symbol TD; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 1.9 billion; Market cap: $96.9 billion; Priceto- sales ratio: 3.4; Dividend yield: 3.7%; TSINetwork Rating: Above Average; www.td.com) also stands to gain from an improving North American economy, particularly in the U.S., where it now has more branches than in Canada.
At the same time, the low Canadian dollar will enhance the bank’s U.S. profits. TD’s strong emphasis on customer service will also help it hang on to depositors if interest rates rise. As well, lower oil prices should give consumers more cash to repay their loans, cutting TD’s loan losses.
TD Bank is a buy.
TRANSCANADA CORP. $53 (Toronto symbol TRP; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 708.6 million; Market cap: $37.6 billion; Price-to-sales ratio: 3.8; Dividend yield: 3.7%; TSINetwork Rating: Above Average; www.transcanada.com) could get a boost if it receives approval for two major pipelines that would pump crude oil from Alberta’s oil sands to the U.S. Gulf Coast (Keystone XL) and to refineries in Eastern Canada (Energy East).
Even if it has to abandon these projects, TransCanada’s crude volumes should remain steady, despite lower oil prices.
As well, the company could unlock some of its value by transferring assets to partly controlled affiliates. These transactions, called “drop downs,” help the parent company free up cash for new projects. Activist investors could also pressure TransCanada to spin off its electrical-power operations as a separate firm.
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Changes to this Policy
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Legal Notices and Disclaimers
The contents of this web site and our publications are based upon sources of information believed to be reliable, but no warranty or representation, expressed or implied, is given as to their accuracy or completeness. Any opinion reflects the Successful Investor’s judgment at the date of publication and neither the Successful Investor, nor any of its affiliated companies, nor any of their officers, directors or employees, accepts any responsibility in respect of the information or recommendations contained in the publications or on this web site. Moreover, the information or recommendations are subject to change without notice.
Information presented on this web site or contained in our publications is not an offer, nor a solicitation, to buy or sell any securities referred to on the web site or in the publications. The material is general information intended for recipients who understand the risks associated with an investment in any securities referred to in the publications or on this web site. The Successful Investor has made no determination regarding whether an investment, course of action, or associated risks are suitable for the recipient.
