2 Dividend Stocks to Buy on Sale
The term "on sale" seems like an oxymoron when the market is pushing toward all-time highs again. And yet you can find many stocks on the bargain rack today -- you just need to venture into out-of-favor sectors. One of the most downtrodden areas is energy, which is home to Chevron (NYSE: CVX) and Enterprise Products Partners (NYSE: EPD). Both have incredible dividend records that income investors will love, and much, much more. Here's why these two dividends stocks are worth buying while they are on sale today.
Oil prices are painfully low today, thanks largely to the demand decline surrounding the global shutdowns used to slow the spread of COVID-19. That's terrible news for a company like Chevron, one of the world's largest international energy majors, because oil prices are the main driver of top- and bottom-line performance. To put a number on how bad, the company's adjusted earnings came in at a loss of $1.59 per share in the second quarter, or nearly $3 billion. But this company doesn't think in quarters -- it thinks in decades.
Image source: Getty Images
Source Fool.com