If you’re looking for opportunities in today’s volatile market, there are plenty. But not every opportunity is created equal. Investors need to be careful and look for high-growth opportunity. While there are plenty that have grown a fair bit already this year, it’s questionable if all of these TSX stocks can remain on a growth path.
Luckily, you’re at the Motley Fool. You already know that we’ve done the research and have solid choices for stocks set to continue growing, if not soaring, over the next few years. So if you want a few TSX stocks that will do well, I recommend Pembina Pipeline Corp. (TSX:PPL)(NYSE:PBA), Cargojet Inc. (TSX:CJT), and NorthWest Healthcare REIT (TSX:NWH.UN).
Pembina Pembina is for the patient investors who wants some passive income. TSX stocks in the energy sector have not been doing well, and Pembina is no exception. But in the next few years that’s set to change. The company has billions in growth projects set to come online. When that happens, oil and gas should flow once more from Canadian oil sands, bringing in revenue, returns, and more dividends.
Meanwhile, you have the company’s whopping 8.92% dividend yield you can lock in right now by investing. This is all supported by decades of long-term contracts beyond the company’s growth projects. So you can be sure your passive income is safe.
Cargojet A company soaring (pardon the pun) this year in share price is Cargojet. The company piggy backed off the growth in e-commerce, with many Canadians turning to e-commerce for their personal as well as business needs. The company has seen a huge growth in revenue. Most recently, revenue grew year over year by 21%! As well, another earnings report is due on November 3, 2020.
Shares in Cargojet are already up 842.55% in the last five years, for a compound annual growth rate (CAGR) of 43.73% during the last decade, which should continue as the company continues to partner with e-commerce giants to keep its growth up. So if you’re looking to buy this stock, I would buy before another earnings jump and hold on for years to come.
NorthWest Healthcare Real estate investment trusts (REITs) are notorious for having to pay 90% of taxable income to shareholders, which usually comes as dividends. However, this year has been difficult as many REITs struggle in this economy. That’s not the case with NorthWest Healthcare, however, as the company invests in healthcare properties ranging from offices to hospitals. These are necessary properties with agreements lasting years if not a decade.
The company is at about 99% occupancy, which is amazing on its own. It’s had revenue come in year over year at 10.8% during the last quarter, a huge jump from 1.4% a few quarters ago. That should only continue as demand for these spaces continues. Earnings come out November 12, so it might be time to buy now before shares continue on its growth path. During the last five years, returns have come in at 93.5, with a dividend yield of 7.03%. So you’ll want to lock this in now!
Bottom line All three of these companies are in industries that will continue to grow for years, if not decades. Investors would do well to buy these in November as earnings come in and hold onto each to bring in solid returns for your portfolio.
The post 3 Top TSX Stocks to Buy in November 2020 appeared first on The Motley Fool Canada.
Fool contributor Amy Legate-Wolfe owns shares of CARGOJET INC., NORTHWEST HEALTHCARE PPTYS REIT UNITS, and PEMBINA PIPELINE CORPORATION. The Motley Fool owns shares of and recommends CARGOJET INC. The Motley Fool recommends NORTHWEST HEALTHCARE PPTYS REIT UNITS and PEMBINA PIPELINE CORPORATION.
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