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These 3 TSX Dividend Stocks Aren’t for Passive Income
Many investors buy dividend stocks for passive income as one of their goals. It’s important to be aware that not all stocks that pay a dividend are good for passive income. Here are a few dividend stocks that require more attention from investors.
Specifically, I’m referring to energy stocks whose profitability are primarily based on the underlying commodity prices that are volatile. For example, oil and gas prices are based on the supply and demand dynamics. When energy supply is low or energy demand rises, energy prices go up.
Personally, I find it impossible to predict energy prices. Therefore, it’s also impossible to predict the profitability of energy stocks and which direction their stocks may go.
Right now, energy stocks like Whitecap Resources (TSX:WCP) are operating in a favourable environment in which energy prices are high. In the first half (H1) of the year, the oil-weighted producer realized crude oil prices of $122.98 per barrel.
The WTI oil price stands at about $98.62 per barrel, which is still 41% higher than the oil prices it realized in H1 2021. Its realized natural gas and natural gas liquid…
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