BIPC - My Top Income Stocks to Buy in January
2024-01-03 06:15:00 ET
Last year was strong for the stock market, broadly speaking. The S&P 500 soared 24%, while the Nasdaq rocketed 43%. Some stocks enjoyed even better performances.
However, there were some notable laggards. Several top dividend stocks underperformed last year, and because of that, they look like great buys this month. In particular, NextEra Energy (NYSE: NEE) , Brookfield Infrastructure (NYSE: BIPC) (NYSE: BIP) , and Realty Income (NYSE: O) stand out as top buys for income investors in January. They offer higher-yielding payouts that should continue growing in 2024 and beyond.
NextEra Energy's stock price tumbled more than 27% in 2023 -- a sell-off that came even though the leading clean energy-focused utility was having another strong year. Its adjusted earnings per share were up 10.8% through the third quarter, putting the company on track to achieve its full-year forecast. Management also reaffirmed its view that it expected earnings to be toward the upper end of the long-term growth target range of 6% to 8% annually through 2026. That optimism came despite some issues with its affiliate, NextEra Energy Partners , which had to slow its dividend growth rate due to the impact of higher interest rates .
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My Top Income Stocks to Buy in January