PSX - 3 High-Yield Energy Stocks You Can Hold for Years
The energy industry has been on fire over the past year as an improving global economy has led to high energy prices and booming profits for energy companies. And many energy companies are making so much cash that they're increasing dividends, returning cash to shareholders at a rapid rate.
Energy usage may be changing as we drive more electric vehicles and more sources of energy are renewable, but energy usage continues to go up, and there are tailwinds behind some rock-solid energy stocks. Three that I think you can hold for years are Duke Energy (NYSE: DUK) , Phillips 66 (NYSE: PSX) , and Brookfield Renewable (NYSE: BEPC) .
Utilities can be some of the most stable businesses in energy, and Duke Energy is one of the largest utilities in the U.S. The company owns regulated electricity and natural gas assets on the East Coast, and the fact that it's primarily in a regulated business means it generates a steady rate of return. Management is even selling commercial solar assets that don't have the same growth prospects as the core business in order to more efficiently run the business.
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3 High-Yield Energy Stocks You Can Hold for Years