2 Income Stocks Ready for Prime Time
It's house-cleaning time for some of my favorite income stocks, but there are a couple formidable replacements for a handful that have run their best race for a while, writes Richard C. Young of Intelligence Report.
The merger between Duke Energy (DUK) and Progress Energy closed in early July. Alexander & Baldwin split into two companies—a real estate business and a transportation and logistics company. I am dropping both stocks from the Monster Master List for now, but may come back to one or both in the future.
Entergy and Exelon are two of my less-favored utility names. If you have significant capital gains in a taxable account, you can continue to hold both stocks, but I see more opportunity for you in Southern Company and Clorox.
The first of the two new additions is SO, the nation's second-largest utility. Southern Company serves 4.4 million customers with a power generation capacity of over 43,000 megawatts.
SO's regulated business is spread across Mississippi, Alabama, Florida, and Georgia, and the parent company produces electricity at 73 power plants located across the country.