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Pro Picks: 3 Dividend Stocks to Buy

Investing ideas from Rebecca Teltscher of Newhaven Asset Management

Watch Pro Picks: 3 Dividend Stocks to Buy Right Now

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In this episode I spoke with Rebecca Teltscher of Newhaven Asset Management about defensive dividend-paying stocks that can do well in a stagflationary environment. She talked about what she loves and what she is staying away from right now. This episode is full of actionable insights! Here are her top three ideas:

1. Premium Brands Holdings (PBH)

  • What It Is: Owns ~60 food brands (e.g., Yorkshire Valley Farms, Pillar’s) in specialty foods (retail) and distribution (to restaurants, schools, hospitals).

  • Why It’s a Good Buy Now: The stock’s down over the past year, but tariff exposure is “very minimal” (only 3-5% of sales cross-border). A disciplined management team paused acquisitions when valuations spiked, focusing on dividends (4.5% yield) and a major U.S. expansion for customers like Costco. With valuations now “very attractive” and expansion nearing completion, it’s a “great entry point.”

  • Upside Potential: The stock “has come off more than it needs to,” suggesting significant room to recover as U.S. growth kicks in and investor interest returns.

2. AltaGas (ALA)

  • What It Is: Half utilities (e.g., powering the White House) and half midstream (e.g., propane exports via Ferndale and Ridley Island terminals).

  • Why It’s a Good Buy Now: At a 10-year high, AltaGas blends defensive utilities with niche growth in LPG exports to Asia, dodging U.S. tariff risks. New projects like the Ridley Island Export Terminal (FID reached December 2024) are seeing “huge uptake” in capacity commitments, with room to expand further. The mix is “great to own” amid market uncertainty.

  • Upside Potential: Despite the high, conviction is strong—implying more growth as export projects ramp up and diversify revenue beyond the U.S.

3. Canadian Natural Resources (CNQ)

  • What It Is: A major oil (60%) and gas (40%) producer with high-quality, low-decline assets.

  • Why It’s a Good Buy Now: Lagging peers due to no U.S. refining exposure, CNQ is “undeniably the best managed” energy company, with a 5.5% dividend yield and a history of accretive buys (e.g., Chevron’s Canadian assets in 2024). It’s a “screaming buy” at current prices—down 10% this year—since tariffs are offset by FX and assets shine even at $40 oil.

  • Upside Potential: Trading lower than its quality warrants, it’s a “best name to own forever,” with room to rebound as markets recognize its value.

DISCLAIMERS: The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice. The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.

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