Oil prices touched multi-year highs in 2022 but have since cooled off, dragging energy stocks lower in recent months. Several oil and gas companies trading on the TSX are currently valued at a lower multiple and in oversold territory. As stock prices and dividend yields are inversely related, you can now buy energy stocks with tasty dividend yields, too. One such oversold dividend stock in the energy sector is Freehold Royalties ( TSX:FRU ). Letâs see why this TSX stock should be part of your equity portfolio right now. What does Freehold Royalties do? A diversified oil and gas royalty company, Freehold Royalties ( TSX:FRU ) has assets in five Canadian provinces and eight states south of the border. It aims to acquire and actively manage royalties, resulting in a steady stream of dividend income for shareholders. Freehold Royalties has one of the largest portfolios of royalty lands on the continent, with land holdings totalling more than 7.3 million gross acres. The company has successfully driven oil and gas development through lease-out programs on its properties. It continues to acquire quality assets with acceptable risk profiles and long economic lives, allowing Freehold to increase royalty payments over time. A […]
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