4 Magnificent Stocks to Buy at a Bargain
Industrial and energy companies can be volatile due to economic factors, interest rates, and commodity prices. However, buying these companies when they are near their 52-week lows can prove to be a wise investment.
ExxonMobil
Energy giant ExxonMobil (NYSE: XOM) is known for its involvement in fossil fuels. While the stock is currently trading near its 52-week low due to weakness in commodity prices, the company remains financially strong. With $31 billion in cash and $41 billion in total debt, ExxonMobil has a net debt of just $10 billion. Additionally, the company offers a 3.6% dividend yield, having raised its dividend for 41 consecutive years.
NextEra Energy
NextEra Energy (NYSE: NEE), a renewable energy company and electric utility, plays a significant role in the growing renewable energy sector. While the stock is struggling due to high interest rates, the market expects rate cuts in the near future. With its leading position in renewable energy sources and a solid 3.6% dividend yield, NextEra Energy is an appealing investment opportunity.
Archer-Daniels-Midland
Archer-Daniels-Midland (NYSE: ADM) is a key player in the food industry, processing and trading grains, seeds, oils, and other agricultural products globally. Despite being under investigation by the Department of Justice for account practices, the company has a long track record of success and is nearing Dividend King status with 48 consecutive years of dividend increases. This situation presents a potential buy-the-dip opportunity.
Deere & Company
Deere & Company (NYSE: DE) is a renowned brand in the agriculture, construction, and forestry machinery industry. While the stock is currently experiencing a slump due to higher interest rates, analysts predict a 10% annual earnings growth in the long term. Deere is a prime example of a solid business going through a cyclical phase.
Investing in these stocks at their current lows could prove to be a smart move. For more finance and investment insights, visit Business Today.