The need for a defensive stock or two in your portfolio cannot be understated, and utilities are some of the best defensive stocks to own. Fortunately, the market provides plenty of options to consider, including these two top utility stocks to buy now.
When speaking about the top utility stocks to buy, it’s important to recognize the only two Dividend Kings in Canada: Fortis (TSX:FTS) and Canadian Utilities (TSX:CU).
Fortis offers growth and income
Fortis operates one of the largest utilities in North America. The company boasts operating regions located across Canada, the U.S., and the Caribbean. In other words, Fortis is huge.
The $66 billion behemoth has 3.4 million customers across both its electric and gas segments. More importantly, 99% of its operations are regulated by long-term contracts, which often span decades.
This means that as long as Fortis continues to provide utility services, it generates revenue. And that…
