The rising COVID-19 infections and weak economic conditions imply that a second stock market crash is not far away. Now is the best time to diversify the risk with stocks that offer both safety and growth.
A growing health and wellness company
Jamieson Wellness (TSX:JWEL) is among the very few TSX stocks that were unaffected by the coronavirus-led stock market selloff. Investors should note that its shares have grown consistently and is up over 38% year to date.
Jamieson offers vitamins, minerals, and supplements, which is witnessing steady demand. Growing focus on healthy living and ageing population indicate that the demand for health and wellness products should sustain in the future.
While the company’s domestic business continues to grow at a healthy pace, its international expansion is likely to bolster its growth further.
The company’s resilient business model, international expansion, and sustained demand for its products make Jamieson Wellness stock a top TSX stock to protect and grow your portfolio.
Leading food and drug retailer
Canada’s largest food retailer Loblaw (TSX:L) remains well positioned to beat the volatility in the stock market. The retailer’s extensive food and pharmacy stores continue to generate healthy traffic and, in turn, steady comparable sales growth.
Loblaw’s defensive business model, value offerings, and growing e-commerce penetration make it immune to economic downturns and large market swings.
As the demand for online shopping increases, the retailer is expanding its e-commerce offerings. The company is steadily increasing its home delivery and grocery pickup services. Besides, it is also offering overnight picking slots and increasing labour hours to meet the growing demand.
Shares of Loblaw should continue to chug along and generate steady growth over time, besides adding the much-needed safety to your portfolio.
A growing waste management company
Waste Connections (TSX:WCN)(NYSE:WCN) stock should do pretty well in the coming quarters thanks to the company’s recession-resilient business. The company strategically targets secondary and rural markets to avoid heightened competitive activity and benefit from the early-mover advantage. Its ability to accelerate growth through acquisitions is encouraging.
The company consistently generates strong sales, EBITDA, and earnings and has increased its dividends for nine years in a row.
Waste Connections’s growing market share and route density, ability to grow both organically and inorganically, focus on the niche market, new customer acquisitions, and double-digit dividend growth make it a solid long-term investment for growth and protection.
A leading green energy company
Brookfield Renewable Partners (TSX:BEP.UN)(NYSE:BEP) is Canada’s leading pure-play green energy producer. The renewable energy company’s predictable and growing cash flows continue to drive its stock and investors’ returns higher.
Brookfield Renewable Partners’s long-term power-purchase agreements with creditworthy counterparties make it immune to the economic uncertainties and volatility in demand. Moreover, increasing production capacity and inflation-indexed contracts help it to deliver sustainable growth.
The company has consistently increased its dividends and remains on track to boost shareholders’ return further in the coming years.
With its growing business, strong financial position, robust dividend payments, and strong fundamentals, Brookfield Renewable Partners stock is a must-have in your portfolio.
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Fool contributor Sneha Nahata has no position in any of the stocks mentioned.