BEPC - 3 Stocks to Buy in Case the Bears Get Active Again
2023-06-25 05:38:00 ET
While the stock market has bounced 20% from its bottom late last year, we're not out of the woods yet. Several indicators suggest that a recession could be around the corner. An economic downturn could stir the bears again, sending stocks lower.
Given that uncertainty, investors might want to consider taking a defensive approach. Duke Energy (NYSE: DUK) , Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) , and NextEra Energy (NYSE: NEE) stand out to a few Fool.com contributors for their ability to weather a potential recession. Here's why they believe these are great stocks to buy for those who want to play defense ahead of another potential bear market plunge.
Reuben Gregg Brewer (Duke Energy): As one of the largest utilities in the United States, Duke Energy won't excite you very much. And that's the point behind adding this stock and its 4.4% dividend yield to your portfolio. In fact, the company intends to get even more boring, with the planned sale of its relatively small contract renewable power operations. After this deal is consummated, virtually all of Duke's business will be regulated.
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3 Stocks to Buy in Case the Bears Get Active Again