ABBV

Make money with your newfound cash with these three dividend stocks.

Uncle Sam wants you…to have more money. Last week, the $1.9 trillion stimulus package was signed into law. Most Americans will soon receive $1,400 stimulus checks.

The best thing to do with the extra cash coming your way is to pay any outstanding bills and make sure you have a solid emergency fund. If you've checked off those boxes, though, investing in stocks is a smart way to put your $1,400 to good use. Here are three stocks to buy that'll turn your stimulus check into a money machine.

AbbVie (NYSE:ABBV) is a big drugmaker that pays a dividend-yielding over 4.7%. You won't get that kind of return from parking your stimulus check in a savings account. Even better, AbbVie is a Dividend Aristocrat with an impressive track record of 49 consecutive years of dividend increases. The payments you'll receive in the future will almost certainly be greater than what you'll get now.

AbbVie

Any stock that both Warren Buffett and ARK Investment Management CEO Cathie Wood like is definitely one you'll want to check out. The two successful investors no doubt like AbbVie's dividend, but they probably chose to buy AbbVie just as much for its long-term growth prospects.

It's true that AbbVie's growth will take a hit soon. The company expects a year-over-year revenue decline in 2023 when top-selling drug Humira loses U.S. patent exclusivity. But that should only be a short-lived trough. AbbVie looks for a quick rebound beginning in 2024 with revenue growing in the high single digits throughout the rest of the decade.

The company's lineup includes several fast-rising stars, with newer autoimmune-disease drugs Rinvoq and Skyrizi standing out. AbbVie's pipeline is also loaded with promising immunology, oncology, and neuroscience candidates. With a great dividend and solid growth prospects, your $1,400 should generate attractive total returns over the long run with this pharma stock.

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Brookfield Renewable Partners

Brookfield Renewable Partners (NYSE:BEP) ranks as another outstanding dividend stock that should provide consistent quarterly income. Its dividend currently yields nearly 4.8%.

The company's middle name highlights its business. Brookfield Renewable Partners is one of the top renewable energy providers in the world. It operates hydroelectric, wind, solar, and storage facilities in North America, South America, Europe, and Asia.

Renewable energy is practically guaranteed to enjoy stronger demand. Countries across the world have set aggressive targets to reduce carbon emissions, and the Biden administration has made renewable energy a top focus. It certainly helps that renewable energy sources such as wind and solar are more cost-effective than their fossil fuel rivals.

Brookfield Renewable is set to capitalize on this growth. The company currently has over 19,000 megawatts of capacity. Its development pipeline could boost that total by 23,000 megawatts. Buying shares of this stock with your stimulus check should pay off nicely over the next decade and beyond.

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Enterprise Products Partners

If you're looking for fantastic quarterly income payments, you'll probably love Enterprise Products Partners (NYSE:EPD). The midstream energy company currently pays a distribution that yields a whopping 7.6%.

Enterprise Products Partners' operations are diversified across a wide range of energy services. The company processes, transports, and stores natural gas. It transports and stores natural gas liquids, oil, and other petrochemicals.

The company is also expanding increasingly into renewable energy. Enterprise Products Partners announced a deal earlier this month to buy 100 megawatts of power from a solar project developed by EDF Renewables, a subsidiary of Electricite de France. Its goal is to generate 25% of total power from renewable sources by 2025.

Look for 2021 to potentially be a big year for Enterprise Products Partners. The combination of economic stimulus and widespread availability of COVID-19 vaccines should jump-start travel and boost the company's business. Those $1,400 stimulus checks should help Enterprise Products Partners. And investing your $1,400 in this stock could help stimulate your financial future as well.

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Keith Speights

The old utility power grid is rapidly changing and diversifying. We now have new sources of energy generation.

Solar and wind are the dominant new sources of energy. In the Midwest, where the wind blows almost all the time, large wind turbine farms dot prairies and farm fields.

Residential, commercial and utility-scale solar are now not only affordable but also reliable. And residential solar is increasingly being paired with battery storage.

This is giving many customers their own microgrids. And that can keep them safe from utility blackouts.

Sometimes during the day, customers’ solar panels produce excess energy. Their systems end up dumping it back onto the utility grid.

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From the utilities’ perspective, this looks like another source of electricity. In utility speak, this is an example of a distributed energy resource (DER).

Nonpolluting and Reliable

A DER can be something as simple as a smart thermostat. And in the near future, electric vehicles, with their giant batteries, will act as these energy resources.

Other examples of these include rooftop- and ground-mounted solar systems, wind turbines, microturbines, fuel cells, and biomass generators.

Utilities are starting to realize these resources aren’t a competitive nuisance. They are, in fact, a valuable asset.

In essence, every homeowner with solar power paired with battery storage and/or an EV becomes a small generating station. And when under software control, separate distributed energy resources work together as a virtual power plant. There’s no pollution involved.

The entire system is inherently more reliable because this “power plant” is made up of many small generating sources.

And the probability that they would all fail at the same time is nearly zero. So it’s no surprise that utilities are starting to embrace DERs. Using them as virtual power plants (and paying owners for their use) is an effective cost avoidance tool for utilities.

The real future for utilities is focusing on technology that effectively manages distributed energy resource growth.

Spending money on control software is far less expensive than building a new power plant. And by using these resources, utilities can avoid other infrastructure, like transmission lines and substations.

The key is to provide incentives for utilities to actively use and promote DERs. Additionally, utilities must fairly compensate owners for building them.

Thinking of these resources as grid assets is a complete mindset shift for utilities. Today, when power demand reaches peak levels, utilities generally start-up natural gas-fired peaker plants.

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They take several hours to come online. So utilities start them long before they actually need them. This wastes millions of dollars in resources and energy. And the whole process is polluting and inefficient.

In contrast, utilities can summon distributed energy resources in fractions of a second.

Everybody Wins

Rapid adoption of DERs could soon be underway. Public utility commissions are starting to review and adopt policies that reward utilities for using them.

Control software is still in its infancy but is progressing rapidly. And solar installers need to educate customers regarding the economic benefits of owning distributed energy resources.

With DERs, everybody wins. Utilities have better control over their grids, and grid reliability improves.

Customers have cheaper electricity, and they are paid handsomely for selling extra power to the utility.

What’s not to like about that?

Good investing,
Dave

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