Sell our holdings in Husky Energy (TSX: HSE, OTC: HUSKF). Poor quarterly results and the replacement of the cash dividend with a script dividend leaves us disappointed.

Canadian Utilities (TSX:CU, OTC: CDUAF): Move from Buy to Hold based on valuation concerns. Poor results and a 3.1% dividend yield with deteriorating growth prospects diminishes the attraction. We are looking for an alternative holding in the Dividend Champions portfolio.

Brookfield Infrastructure Partners (TSX: BIP-U, NYSE: BIP): Move from Buy to Hold based on price increase and deal uncertainty. Brookfield is now involved in a bidding war for Asciano and we are concerned that the price may be driven beyond reasonable levels with little value left for the acquirer.  

Full details are available in the November issue of Canadian Edge. 

– Deon Vernooy, chief investment strategist