Pro RRSP tips, soaring utilities and dividend growth stocks: What you need to know in investing this week

Canadian utilities have sailed through fears about the spread of the coronavirus and the threat of declining global economic activity,. But the stocks are now approaching a hurdle that could prove more difficult to clear. The utilities sector in the S&P/TSX Composite Index increased 8.5 per cent in January. By comparison, the broader index is up less than 2 per cent since the start of the year.

The problem: High valuations make additional gains hard to fathom. The estimated price-to-earnings ratio for Canadian regulated utilities is above 23, which is well above the sector’s 10-year average of 17.8, according to a CIBC World Markets analyst.As a company’s dividend growth goes, so goes its share price, Rob Carrick writes.

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