Looking for the Next Best Buy-it and Forget-it Stock
I’ve been doing rather well in my Roth IRA for the last year. I’m holding Provident Energy (PVX: chart, web, Y!), which turns a healthy 11% dividend and pays monthly, Duncan Energy Partners (DEP: chart, web, Y!), which recently increased its dividend by 2.5%, and my company stock, which has better than doubled over the last year.
Being in the oil industry, I think it’s safe to say that I’m overweight in oil and gas; which, at this point in time is not such a bad thing. However, down the road, I foresee a major pullback in crude prices, which will not be such a good thing for the industry.
So, I’ve set out to find the next great “buy-it and forget-it” stock.Naturally, I don’t literally mean forget it. I just don’t want to have to watch the stock price every day with a twitchy trigger finger on the sell button.
I want a stock that I’ll hold for 2 or 3 years at a minimum, pays a bit of a dividend, but has tremendous room for growth, not only as an individual company, but I’d like to see a good forecast for growth in the sector too.
Here are a few options I’m looking at, for various different reasons.
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