Business & Investment

TFSA: Three Canadian Stocks Best to Buy in 2022 with an Annual Contribution of $ 6,000

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This month Canada Tax Exempt Savings Account (TFSA) For next year. In 2022, the TFSA annual limit will remain at $ 6,000. This will increase the cumulative contribution room to $ 81,500. Today, I would like to take a look at Canada’s top three stocks worth scooping in that additional $ 6,000 room. Let’s dive.

This is the payout heavyweight that your TFSA is worth holding

Embridge (TSX: ENB)(NYSE: ENB) Is an energy infrastructure giant and one of the largest shares in TSX’s market capitalization.Hungry for TFSA investors Stable income and high yield You should look to this Canadian stock before the New Year. Embridge shares rose 18% in 2021 as of the afternoon trading on December 1st. Stocks are down 7.5% month-on-month.

The company achieved adjusted earnings of $ 1.18 billion in the third quarter of 2021, or $ 0.59 per share. That’s an increase from $ 961 million in the previous year, or $ 0.48 per share. Meanwhile, discounted cash flow (DCF) exceeded $ 2.3 billion ($ 1.13 per common stock) and $ 2.1 billion ($ 1.03 per share) in the third quarter of 2020. Embridge reaffirmed its solid guidance for the whole year per EBITDA and DCF share.

The price-earnings ratio (P / E) of this Canadian stock is favorable at 17. TFSA investors can rely on a quarterly dividend of $ 0.835 per share. This corresponds to a high yield of 6.8%.

One Canadian stock that has skyrocketed since the start of the COVID-19 pandemic

goeasy (TSX: GSY) An alternative financial services company based in Mississauga. This Canadian stock has been in tears since it fell during the March 2020 market pullback. At the time of this writing, its share rose 83% in 2021. However, go easy decreased by 9.4% from the previous month.

In November suggestion Investors need to scoop up this growth stock with a plunge. goeasy posted a $ 1.90 billion loan portfolio, up 60% in the third quarter of 2021. Meanwhile, revenue was up 36% to $ 220 million. Same-store sales grew by 15%, increasing dividends for the seventh consecutive year. goeasy has released promising forecasts for 2022-2023.

The price-earnings ratio for this Canadian stock was 11. It offers a quarterly dividend of $ 0.66 per share, equivalent to a yield of 1.4%. goeasy can bring great growth and a small income to TFSA over the long term.

Why You Should Take Canada Goose For An Additional $ 2,000

Canada goose (TSX: GOOS)(NYSE: GOOS) Is Canada’s third stock that wanted to get the last part of the contribution room available in 2022. At the time of this writing, the share of this top clothing maker, designer and marketer has increased by 50% in 2021. Inventory plummeted 8.5% last week. This is one of my top growth stocks to target at TFSA as we enter the holiday season.

In the second quarter of 2022, Canada Goose achieved 33% global e-commerce revenue growth. Gross profit increased to $ 135 million, compared with $ 94.2 million in the second quarter of 2021. Canada Goose boasts a very good balance sheet and is on track for significant growth in the future. This Canadian stock currently belongs to your TFSA.

TFSA: Three Canadian Stocks Best to Buy in 2022 with an Annual Contribution of $ 6,000

https://www.fool.ca/2021/12/01/tfsa-the-3-best-canadian-stocks-to-buy-with-your-6000-annual-contribution-in-2022/ TFSA: Three Canadian Stocks Best to Buy in 2022 with an Annual Contribution of $ 6,000

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