Thursday, October 29, 2015

Recent Buy - Canadian Utilities

Sometimes things work out beautifully. After posting last week about selling my position in Canadian Utilities, and indicating that I’d be interested in re-establishing the position inside my RRSP at a lower price, the company announced their Q3 results on October 23rd. Although I didn’t find the Q3 results disappointing, they were below analyst expectations causing the stock to promptly drop almost 10%. Since I’m a big fan of this business, I took the opportunity to re-establish my position. I was able to buy shares at $33.92, making my dividend yield on cost 3.48%. Given Canadian Utilities enviable 43-year record of increasing their dividend annually (the longest of ANY Canadian company), I’m thrilled to be a shareholder again. I bought the shares in enough time to qualify for the November 5th holder of record date for the dividend, thus ensuring I didn’t miss a payment. My Investment Holdings page has been updated to reflect this recent acquisition. 

Given a very hectic month at work, little else has happened with my portfolio. I was close to buying shares in Kinder Morgan and Enbridge Income Fund earlier this week, but my limit orders weren’t met (literally pennies away from my limit price in each case). With one business day left in October, it’s safe to say it was a quiet month for me on the financial front. I’ll post the results of my October money experiment, and a non-financial goals update tomorrow.

When buying stock, do you use market or limit orders?

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