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Cogeco Inc Sv(CGO-T)

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3 Defensive Stocks to Stash Today

Baystreet - Mon Apr 25, 1:21PM CDT

The S&P/TSX Composite Index was down 486 points in early afternoon trading on April 25. Investors may want to target defensive dividend stocks in this choppy market climate. Today, I want to look at three defensive equities that are worth scooping up in this bloodbath.

Hydro One (TSX:H) is the top utility in Ontario. That means it possesses a dependable monopoly in the most populous province in the country. This is a recipe for success going forward.

This dividend stock was down marginally in early afternoon trading on April 25. Its shares are up 8.6% in the year-to-date period. Hydro One last had a solid price-to-earnings ratio of 22. Moreover, it offers a quarterly dividend of $0.266 per share, which represents a 2.9% yield.

Cogeco (TSX:CGO) is a Montreal-based telecommunications company. Its shares were down 1% in early afternoon trading at the time of this writing. In Q2 fiscal 2022, Cogeco delivered revenue growth of 14% to $748 million. Meanwhile, adjusted EBITDA jumped 13% to $349 million. Shares of Cogeco possess an attractive P/E ratio of 9.2. It offers a quarterly dividend of $0.625 per share, which represents a 3% yield.

North West (TSX:NWC) is the third defensive stock I’d look to snatch up today. This Winnipeg-based company is engaged in the retail of food and everyday products and services to rural and urban neighbourhoods. Its shares dipped 3% last week, but it is still up 3% so far in 2022.

Shares of North West possess a favourable P/E ratio of 11. It last paid out a quarterly dividend of $0.37 per share. That represents a solid 4.1% yield.