As a retiree, you are likely looking for a steady income stream to supplement your Social Security payments. Dividend-paying stocks would be the right choice for you in such a case. You could spread out your investments among stocks that generate attractive dividend income , such as Enterprise Products Partners (NYSE: EPD) and TC Energy (NYSE: TRP) , and those that generate slightly lower yield income but can be handy should you need to liquidate your position on short notice. Utilities, such as Southern Company (NYSE: SO) , fit the bill here. Let's discuss why these three stocks could be great additions to your portfolio.
If you are looking for conservatively managed companies in the energy sector, Enterprise Products Partners would surely be among the top names. Structured as a master limited partnership , Enterprise Products operates in the midstream segment of the energy sector. It stores and transports oil, gas, and natural gas liquids, and also processes gas and NGLs. It is also involved in the import and export of these commodities.
Enterprise Products Partners largely generates stable, fee-based cash flows for its services. This has allowed it to grow its distribution (MLP-speak for dividend) for 23 consecutive years.
For further details see:
3 Top Stocks for Retirees