2 Top Energy Stocks to Buy Before the Dip is Over
In 2022 ExxonMobil (NYSE: XOM) reported adjusted earnings per share of $14.06, more than double the $5.38 in earned in 2021. It's fair to say that the energy sector has recovered since the deep downturn in 2020, when ExxonMobil's earnings dipped into the red.
If you are looking for a cheap energy stock, however, ExxonMobil probably isn't a good choice. However, midstream giants Enterprise Products Partners (NYSE: EPD) and Enbridge (NYSE: ENB) might be. Here's why.
Given ExxonMobil's strong earnings upturn, it probably won't surprise you to find that the stock price has jumped nearly 60% since the start of 2020, before the pandemic. From its low point in mid-March 2020, the stock is up over 200%. If you were hoping to benefit from the energy rebound, you have probably missed the best part of the ride with ExxonMobil. But Enterprise's and Enbridge's stock prices are still just slightly below where they were at the start of 2020, off by around 6% and 2%, respectively.
Source Fool.com
