Securing the financial future of yourself and your family is one of the most important goals that you might have. This is very understandable and highly respectable, especially considering the high cost of living that is taking a toll on young and old alike — we want to make sure our loved ones are taken care of financially for years to come. To achieve this, buying stocks that are tailored to long-term wealth creation can go a long way.
Please read on as I share three stocks to buy that will help you get started on building your family’s financial security.
AltaGas
Increased energy demand is boosting the fortunes of energy companies in North America. Utility companies are among the steadier and more predictable in this sector, with revenues that are regulated and demand that’s pretty much a given regardless of the state of the economy. I mean, we all need energy to heat our homes and power our appliances, it’s a non-negotiable.
AltaGas (TSX: ALA) has a few things going for it. Firstly, its business is made up of a utilities segment as well as an energy infrastructure segment. The utilities segment is regulated, with growing revenues and earnings that account for 63% of the company’s total earnings. The energy infrastructure segment is the higher growth segment, benefiting from the global growth in liquefied natural gas demand.
AltaGas stock offers investors a current dividend yield of 2.94%, a business that’s both secure and growing, and a future that’s pretty predictable with plenty of growth. These are all things that will help reach the goal of financial wealth and stability. Also, the stock has an attractive valuation, trading at 18 times earnings.
Telus
The second stock that I would buy is Telus (TSX: T). Telus is one of Canada’s top telecom companies with a strong history of both growth and providing dividend income. In fact, in the last 20 years, Telus has grown its annual dividend per share by 730% to the current $1.66. Also, its stock price has increased 68% to $42.88.
Telus is currently experiencing industry-leading customer growth as it continues to expand its fibre network. The company’s goal is to bring affordable internet and differentiated services, including artificial intelligence (AI) energy management at home, Telus Health, security and entertainment solutions.
These services are Telus’s path to leading revenue and earnings growth today and in the future. For example, Telus Health saw its revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) grow very nicely, up 16% and 29% respectively.
Finally, Telus will continue to enhance its traditional telecom business by participating in Canada’s sovereign AI push. To this end, Telus announced the launch of Canada’s first sovereign AI factory. This makes sense, as telecom companies like Telus are carriers, originators, storers, and deliverers of data, so their position is strong.
A strong present and an even stronger future make Telus a prime addition to your portfolio.
BlackBerry
Lastly, BlackBerry (TSX: BB) is a higher-risk/higher-reward stock that I think can very likely contribute massively to your family’s financial future. In BlackBerry, we have the leader in connected car software. QNX operating systems include BlackBerry’s embedded software systems. These systems are connecting cars and introducing machine-to-machine connectivity to medical devices, industrial applications, and robotics.
The latest quarter for BlackBerry was a clear winner: revenue increased 3% to $129.6 million, and earnings per share (EPS) came in at $0.04 versus break-even in the same period last year and versus expectations that were calling for EPS of $0.01.
This resulted in management increasing guidance, and it reminded us of the potentially massive market that is at BlackBerry’s fingertips right now. The connected car/embedded systems market is in its infancy, but it is on the cusp of major growth. Investing in BlackBerry stock will give you and your family’s portfolio exposure to potentially life-altering returns.
