3 Stocks Poised for Huge Growth in the Next Few Years

The business outlooks for Algonquin Power & Utilities Corp. (TSX:AQN)(NYSE:AQN), Maple Leaf Foods Inc. (TSX:MFI), and Savaria Corp. (TSX:SIS) are ultra-bright. Investors should invest now to partake of generous gains in the near future.

| More on:

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.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

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

More on Dividend Stocks

dividends can compound over time
Dividend Stocks

Want a 7% Yield? The 3 TSX Stocks to Buy Today

These TSX stocks are offering high yields of over 7%, making them attractive for investors seeking steady passive income.

Read more »

how to save money
Dividend Stocks

The Smartest Dividend Stocks to Buy With $200 Right Now

These smartest dividend stocks can consistently pay and increase their dividends in the coming years, irrespective of the macro uncertainty.

Read more »

Electricity transmission towers with orange glowing wires against night sky
Dividend Stocks

3 Utility Stocks That Are Smart Buys for Canadians in November

These utility stocks benefit from regulated businesses and generate predictable cash flows that support higher dividend payouts.

Read more »

Start line on the highway
Dividend Stocks

Invest $10,000 in This Dividend Stock for $600 in Passive Income

Do you want to generate passive income? Forget the rental unit! This option will save you the mortgage yet still…

Read more »

Senior uses a laptop computer
Dividend Stocks

1 Reliable Dividend Stock for the Ultimate Retirement Income Stream

TD Bank (TSX:TD) shares are way too cheap with way too swollen a yield for retirees to pass up right…

Read more »

A worker drinks out of a mug in an office.
Dividend Stocks

Is Brookfield Infrastructure Partners a Buy for its 4.75% Yield?

Brookfield Infrastructure Partners (BIP) has a 4.75% dividend yield. Is it worth it?

Read more »

TFSA (Tax-Free Savings Account) on wooden blocks and Canadian one hundred dollar bills.
Dividend Stocks

Where to Invest Your $7,000 TFSA Contribution

The TFSA is attractive for investors who want to generate tax-free passive income.

Read more »

The TFSA is a powerful savings vehicle for Canadians who are saving for retirement.
Dividend Stocks

TFSA Investors: 3 Dividend Stocks Worth Holding Forever

These TSX stocks have the potential to grow their dividends over the next decade, making them top investments for TFSA…

Read more »