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3 Top Growth and Income Picks for 2019

To say that 2018 was volatile would be an understatement. With everything from Brexit and gold prices to interest rates and NAFTA renegotiations, wreaking havoc on the market, investors are anxiously awaiting what 2019 has in store.

Here are three incredible investments for 2019 that investors should consider today.

Shopify (TSX:SHOP)(NYSE:SHOP) remains one of the most highly touted and impressive investments on the market today.

The software-oriented company rose to fame over the past few years by offering a configurable and scalable experience that allows companies to set up a digital storefront in a fraction of the time that traditional developments took.

Shopify’s modular solution came to market at the perfect time, riding the wave of mobile commerce and evolving consumer preferences away from physical retailers. Shopify continues to perform handsomely during earnings season, with the company reporting a year-over-year revenue improvement of 58%.

Shopify also recently announced a $400 million share sale this month, with some of the proceeds being targeted for growth initiatives, which, when coupled with the overall market pullback in recent weeks, presents a compelling opportunity to buy a great technology stock with massive growth potential at a discounted level.

Speaking of discounts, Enbridge (TSX:ENB)(NYSE:ENB) represents one of the most compelling opportunities in the market. Enbridge is one of the largest pipeline operators on the continent, with over 350,000 barrels of crude and gas traversing the pipeline each day.

Enbridge charges energy companies for the use of that pipeline network, not unlike how a toll-booth network operates, providing a steady, growing, and secure stream of revenue for the company.

In addition to its current network, worth noting is also the bevy of shovel-ready and under construction projects that are measured in the billions. Prospective investors can purchase Enbridge at a discounted rate at the moment, as the massive acquisition of Spectra Energy proved costly for the company and its balance sheet. Specifically, the high cost of the acquisition and debt it incurred led to Enbridge having its credit rating downgraded, ultimately causing a sell-off, despite what is otherwise an impressive and incredibly stable business model.

Since being downgraded, Enbridge has engaged in a restructuring and cost-reduction program to the delight of long-term investors. If for no other reason, Enbridge’s attractive dividend and 7.14% yield should provide a handsome return for investors.

It would be hard to have a list of great investment option without mentioning at least one of Canada’s big banks. In the case of Bank of Nova Scotia (TSX:BNS)(NYSE:BNS), the bank is neither the largest nor the most well-known of the big banks, but it does offer a compelling alternative for investors looking to diversify their portfolios.

Unlike its peers that opted to expand heavily into the U.S. market, Bank of Nova Scotia opted to invest heavily into the Latin American markets of Mexico, Columbia, Peru, and Chile. Those four nations are part of what is known as the Pacific Alliance, which collectively aims to increase trade relations between members and eliminate all tariffs.

By expanding into all of those markets, Bank of Nova Scotia has become the preferred lender to many businesses operating throughout the bloc — a fact which is backed up by the impressive results and double-digit growth stemming from the region. Further to this, Bank of Nova Scotia acquired a controlling interest in one of the largest banks in Chile, solidifying its position in the country.

That’s not to say that Bank of Nova Scotia has completely neglected the North American market; over the course of the past year, the bank has greatly bolstered its wealth management through a series of well-timed and promising investment options.

In terms of a dividend, Bank of Nova Scotia offers an attractive quarterly dividend with a yield of 4.94%.

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Fool contributor Demetris Afxentiou has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of Shopify and Shopify. Enbridge and Shopify are recommendations of Stock Advisor Canada.

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