Millennials: Here Are the Best Stocks to Buy and Hold Today

Millennials should look to add promising stocks like Waterloo Brewing Ltd. (TSX:WBR) and others in the early spring.

| More on:

Millennials grew into the largest demographic in North American by the end of the 2010s. This new group of investors will continue to see their influence on markets grow in the years ahead. Today, I want to look at the best TSX stocks to buy and hold for this demographic. These stocks should offer a chance at long-term growth considering the time horizon for millennial investors. Let’s jump in.

Millennials should target this stock as the recovery hikes fuel demand

Oil and gas prices were surging entering the last days of winter. However, a surge in COVID-19 cases across Europe and in other parts of the developed world have sparked fears that this downturn will be extended through the spring of 2021. These prices had enjoyed growth on the back of expectations that demand would see an increase as the global economy recovered. Millennials may want to look at companies that offer fuel alternatives looking ahead.

Westport Fuel Systems (TSX:WPRT)(NASDAQ:WPRT) is a Vancouver-based company that engineers, manufactures, and supplies alternative fuel systems and components for use in transportation applications around the world. Its shares have climbed 58% in 2021 as of early afternoon trading on March 23. The stock has soared over 880% year over year.

Revenue fell 17% in 2020 to $252 million. The COVID-19 pandemic had a negative impact on consumer demand, but Westport did see some activity from growth in HPDI sales. This is a top TSX stock that millennials should consider targeting in late March.

This top stock is thriving in a growing industry

Over two years ago, I’d discussed the impact millennials have had on the alcohol industry. This demographic has moved toward wine and spirits, dealing damage to the market share of beer in North America. However, smaller brewers have gained huge traction over the past decade. Moreover, alcohol consumption has jumped during the COVID-19 pandemic.

Waterloo Brewing (TSX:WBR) is engaged in the production, distribution, and sale of alcohol-based products. Some of its top brands include Waterloo Craft Lager, Waterloo Dark, and Waterloo IPA. Its shares have climbed 196% from the prior year. In 2020, its net revenue rose 12% to $60.3 million. Gross profit margin improved to 29.6% from 29.1% in 2019. EBITDA came in at $12 million excluding one-time costs — up 19% year over year. This is an alcohol stock worth targeting for millennials.

One oil and gas stock for millennials to snatch up today

The oil and gas space have encountered turbulence, but millennial investors should not turn their backs on it entirely. AltaGas (TSX:ALA) is a Calgary-based company that operates as a diversified energy infrastructure firm. Its shares have increased 12% in 2021 so far. The stock is up 126% from the prior year.

Normalized EBITDA rose to $1.31 billion in 2020 compared to $1.30 billion in 2019. Shares of AltaGas possess an attractive P/E ratio of 12. It offers a monthly dividend of $0.083 per share. That represents a solid 4.7% yield. Millennials should look to snatch up this top energy stock today.

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 Ambrose O'Callaghan has no position in any of the stocks mentioned. The Motley Fool recommends ALTAGAS LTD.

More on Investing

think thought consider
Tech Stocks

Is CGI Stock a Buy Even With No Dividend Yield?

CGI stock may not have a dividend to speak of. But does that necessarily mean you should ignore this top…

Read more »

A robotic hand interacting with a visual AI touchscreen display.
Tech Stocks

Why Now Is the Time to Invest in Canadian AI Stocks

Are you looking for one of the most solid Canadian AI stocks out there? This one is probably your best…

Read more »

The letters AI glowing on a circuit board processor.
Tech Stocks

Why AI Stocks Should Be in Every Canadian Investor’s Portfolio

AI stocks continue to be one of the best options out there for long-term investing, especially when considering Canadian options.

Read more »

stock research, analyze data
Bank Stocks

Canadian Bank Stocks: Buy, Sell, or Hold?

There are opportunities and risks on the horizon for the Canadian banks.

Read more »

Young Boy with Jet Pack Dreams of Flying
Stock Market

Is Air Canada Stock a Good Buy After Its Q3 Results

Down almost 60% from all-time highs, Air Canada is an undervalued TSX stock that remains an enticing investment in November…

Read more »

cloud computing
Investing

Where to Invest $10,000 in November

Given their solid underlying businesses and healthy growth prospects, I expect these two defensive stocks to outperform uncertain outlook.

Read more »

coins jump into piggy bank
Retirement

Here’s the Average RRSP Balance at Age 44 for Canadians

Holding stocks like Alimentation Couche-Tard (TSX:ATD) in an RRSP is a good way to build your wealth.

Read more »

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 »