The current market has provided some investment opportunities for companies that are income generating. Currently it is possible to pick up some of these stocks at a relatively low prices from their 52 week highs. These are often considered quality companies to have long history in the market.
While there is still much uncertainty related to the Coronavirus pandemic, unemployment and a wide range of other factors, the Federal Reserve has committed to the purchase of corporate bonds, which essentially creates significant liquidity to the banking industry and making it cheap for companies to borrow or even refinance existing debt to lower interest payments. This is part of their commitment to ensure that companies that were financially stable prior to the COVID-19 pandemic remain solid companies afterwards.
So, here is a few income opportunity stocks that have survive previous recessions:
Xerox: XRX
Price: $15.08 (10:05am)
Dividend: $1.00 / 6.63%
52 Week: $14.22 – 39.47
Target: $19.74 (Short)/ $29.60 (Midterm) / $35.52 (Long)
British Petroleum: BP
Price: $23.48 (10:17am)
Dividend: $2.52 / 11.07%
52 Week: $15.51 – 42.63
Target: $27.71 (Short)/ $34.10 (Midterm) / $38.67 (Long)
KeyCorp: Key
Price: $12.00 (10:30am)
Dividend: $0.74 / 6.29% (Fed may cap dividend)
52 Week: $7.45 – 20.53
Target: $14.37 (Short)/ $16.42 (Midterm) / $18.48 (Long)
FirstEnergy Corp: FE
Price: $37.01 (10:40am)
Dividend: $1.56 / 4.23%
52 Week: $32.00 – 52.52
Target: $42.02 (Short)/ $47.27 (Midterm) / $49.89 (Long)
Con Edison: ED
Price: $71.49 (10:48am)
Dividend: $3.06 / 4.29%
52 Week: $62.03 – 95.10
Target: $75.28 (Short)/ $84.69 (Midterm) / $90.35 (Long)
Disclaimer: Investing in the stock market can be very risking and in no way those this article assumes accuracy of any forward looking statement. The information in this article can be speculative and investing in any of these stocks can cause losses, including up to the total of the investment. The author may hold interest and positions in the stocks suggested in this article. In no way should this article be deemed as a suggestion to invest in any of the mentioned stocks. The value of these stocks are completely base on opinion and not to be deemed as factual. We recommend that investors seek additional recommendations from expert analysis and do their own due diligence before investing in the stock market. Stock prices, dividend payouts and other variables can change significantly from one moment to the next and many other factors may affect the valuation of any particular stock at any point in time. Please investment responsibility if you decide to invest in the stock market.
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