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3 Stocks Poised for Huge Growth in the Next Few Years

Algonquin Power & Utilities (TSX:AQN)(NYSE:AQN), Maple Leaf Foods (TSX:MFI), and Savaria (TSX:SIS) are companies destined for growth. In the next few years, the stocks will be among the best-in-class investments. The respective businesses are sustainable, enduring, and vital in everyday living.

The clean and green stock

Algonquin Power & Utilities is one of the hottest and popular renewable energy stocks today because the company pays a more than 4% dividend.

The independent power producer is also very close to attaining the status of “Dividend Aristocrat.” For eight consecutive years, Algonquin has raised dividends to the delight of investors. But gains could be so much more if you look at the business outlook.

Algonquin has several renewable power assets in Canada and the U.S. that can generate a total of 1.5 gigawatts. The assets consist of hydroelectric, wind, solar, and thermal facilities. Most of the contracts from the regulated utilities and energy power are long term, so income is recurring.

Liberty Utilities, the regulated utility business, was recently given the green light to acquire three wind farms in Kansas and Missouri. Once completed, the projects can generate up to 600 megawatts of wind energy.

When the new wind farms become operational in 2020, Algonquin’s recurring income will increase. The economic moat of Algonquin is widening, as the company takes on more renewable energy projects.

The protein stock

The successful IPO of Beyond Meat in the U.S. will benefit the plant-based food industry in general and Maple Leaf Foods in particular. Interest in vegan beef and other substitutes will rise in the next few years. More consumers will switch to healthier options.

The company is all jazzed up about the future of plant-based food. Even before Beyond Meat hit the headlines, Maple Leaf was already expanding the product offerings that would cater to the “flexitarians,” or health-conscious clients.

Maple Leaf is ready to meet the rising demand for alternative proteins. The businesses of the recently acquired Field Roast Grain Meat Co. and Lightlife Foods are already growing by 10-13%. Americans will be introduced to Lightlife’s vegan ground beef and burger patties starting this summer.

The personal mobility stock

Savaria, the leading provider of personal mobility solutions, is capable of delivering market-beating returns. Top-line revenue has been growing at a rapid pace since 2015. The business will grow by an estimated 32.5% at a profit margin of 6.6% this year.

People with mobility challenges will always have the need for accessibility equipment and adapted vehicles. The medical market will require therapeutic support surfaces and pressure management products.

What will drive Savaria’s continuing growth is the aging population and the desire of people to age at home. Hence, over the long term, the company can consistently post double-digit growth rates.

Bottom line

Investors will get a big lift from the three stocks. The companies are like blue-chip stocks that preserve capital, provide capital gains, and regularly pay dividends.

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Fool contributor Christopher Liew has no position in any of the stocks mentioned. Savaria is a recommendation of Hidden Gems Canada.

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