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The Zacks Analyst Blog Highlights Magellan Midstream Partners, Trinity Capital, Runway Growth Finance and Postal Realty Trust
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For Immediate Release
Chicago, IL – September 26, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Magellan Midstream Partners , Trinity Capital (TRIN - Free Report) , Runway Growth Finance Corp. (RWAY - Free Report) and Postal Realty Trust (PSTL - Free Report) .
Here are highlights from Monday’s Analyst Blog:
4 Safe Picks as a Hawkish Fed Spurs Sell-off on Wall Street
September traditionally has been one of the worst periods to have money in the stock market. This September is also in no way different, with the major bourses taking a beating last week. The S&P 500 and the Nasdaq, in particular, registered their biggest weekly percentage drop since March, per Dow Jones Market Data.
The broader S&P 500 and the tech-laden Nasdaq notched their third successive weekly decline, while the 30-stock Dow ended in the red for the fourth consecutive trading day on Sep 22, witnessing its longest daily declining streak since June.
Stocks sold off in recent times spurred by an aggressive monetary policy from the Federal Reserve. The Fed has shown intent to increase interest rates further this year, and limit cuts next year. Needless to say, that rate hike doesn't bode well for economic growth as it hampers consumer spending and raises the cost of borrowing.
The Fed, in its recent policy meeting, said that it expects another 25-basis point interest rate hike by the end of this year. What's more, interest rates are estimated to stay higher for longer, with only two rate cuts expected next year, two less than what was earlier projected.
The central bank has taken a hawkish stance to tame elevated inflation. The Fed's favored inflation gauge, the core personal consumption expenditures index came in at 4.2% in July, which is way higher than the central bank's desired target of 2% (read more: Fed Anticipates Higher Rates for Longer: 5 Big Winners).
Similarly, consumer and wholesale prices are still running hot. The consumer price index jumped 3.7% in August from a year ago, while the producer price index advanced 1.6% last month over the past 12-month period. The uptick in oil prices worldwide perked up price pressures (read more: 3 Inflation-Proof Consumer Staples Stocks Worth a Watch Now).
Nonetheless, with the stock market finishing a tumultuous week amid a hawkish Fed outlook, it's now judicious for investors to place bets on safe stocks like Magellan Midstream Partners, Trinity Capital, Runway Growth Finance Corp. and Postal Realty Trust to counter market upheavals and earn a steady income.
These stocks have a low beta (ranges from 0 to 1), making them unperturbed to market vagaries. These stocks also provide dividends, meaning they have a solid business model that helps them counter market volatility. They have a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here.
Magellan Midstream Partners is a master limited partnership that owns and operates a diversified portfolio of energy infrastructure assets. The company has a beta of 0.9.
MMP has a dividend yield of 6.1%. The Zacks Consensus Estimate for its current-year earnings has moved up 1.2% over the past 60 days. The company's expected earnings growth rate for the current year is 11.7%.
Trinity Capital is an internally managed business development company. The company has a beta of 0.62.
TRIN has a dividend yield of 13.2%. The Zacks Consensus Estimate for its current-year earnings has moved up 2.3% over the past 60 days. The company's expected earnings growth rate for the current year is 2.3%.
Runway Growth Finance is an externally managed business development company. The company has a beta of 0.74.
RWAY has a dividend yield of 12.4%. The Zacks Consensus Estimate for its current-year earnings has moved up 3.9% over the past 60 days. The company's expected earnings growth rate for the current year is 29.5%.
Postal Realty Trust is a real estate investment trust. The company has a beta of 0.64.
PSTL has a dividend yield of 6.9%. The Zacks Consensus Estimate for its current-year earnings has moved up 4% over the past 60 days. The company's expected earnings growth rate for the current year is nearly 3%.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Magellan Midstream Partners, Trinity Capital, Runway Growth Finance and Postal Realty Trust
For Immediate Release
Chicago, IL – September 26, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Magellan Midstream Partners , Trinity Capital (TRIN - Free Report) , Runway Growth Finance Corp. (RWAY - Free Report) and Postal Realty Trust (PSTL - Free Report) .
Here are highlights from Monday’s Analyst Blog:
4 Safe Picks as a Hawkish Fed Spurs Sell-off on Wall Street
September traditionally has been one of the worst periods to have money in the stock market. This September is also in no way different, with the major bourses taking a beating last week. The S&P 500 and the Nasdaq, in particular, registered their biggest weekly percentage drop since March, per Dow Jones Market Data.
The broader S&P 500 and the tech-laden Nasdaq notched their third successive weekly decline, while the 30-stock Dow ended in the red for the fourth consecutive trading day on Sep 22, witnessing its longest daily declining streak since June.
Stocks sold off in recent times spurred by an aggressive monetary policy from the Federal Reserve. The Fed has shown intent to increase interest rates further this year, and limit cuts next year. Needless to say, that rate hike doesn't bode well for economic growth as it hampers consumer spending and raises the cost of borrowing.
The Fed, in its recent policy meeting, said that it expects another 25-basis point interest rate hike by the end of this year. What's more, interest rates are estimated to stay higher for longer, with only two rate cuts expected next year, two less than what was earlier projected.
The central bank has taken a hawkish stance to tame elevated inflation. The Fed's favored inflation gauge, the core personal consumption expenditures index came in at 4.2% in July, which is way higher than the central bank's desired target of 2% (read more: Fed Anticipates Higher Rates for Longer: 5 Big Winners).
Similarly, consumer and wholesale prices are still running hot. The consumer price index jumped 3.7% in August from a year ago, while the producer price index advanced 1.6% last month over the past 12-month period. The uptick in oil prices worldwide perked up price pressures (read more: 3 Inflation-Proof Consumer Staples Stocks Worth a Watch Now).
Nonetheless, with the stock market finishing a tumultuous week amid a hawkish Fed outlook, it's now judicious for investors to place bets on safe stocks like Magellan Midstream Partners, Trinity Capital, Runway Growth Finance Corp. and Postal Realty Trust to counter market upheavals and earn a steady income.
These stocks have a low beta (ranges from 0 to 1), making them unperturbed to market vagaries. These stocks also provide dividends, meaning they have a solid business model that helps them counter market volatility. They have a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here.
Magellan Midstream Partners is a master limited partnership that owns and operates a diversified portfolio of energy infrastructure assets. The company has a beta of 0.9.
MMP has a dividend yield of 6.1%. The Zacks Consensus Estimate for its current-year earnings has moved up 1.2% over the past 60 days. The company's expected earnings growth rate for the current year is 11.7%.
Trinity Capital is an internally managed business development company. The company has a beta of 0.62.
TRIN has a dividend yield of 13.2%. The Zacks Consensus Estimate for its current-year earnings has moved up 2.3% over the past 60 days. The company's expected earnings growth rate for the current year is 2.3%.
Runway Growth Finance is an externally managed business development company. The company has a beta of 0.74.
RWAY has a dividend yield of 12.4%. The Zacks Consensus Estimate for its current-year earnings has moved up 3.9% over the past 60 days. The company's expected earnings growth rate for the current year is 29.5%.
Postal Realty Trust is a real estate investment trust. The company has a beta of 0.64.
PSTL has a dividend yield of 6.9%. The Zacks Consensus Estimate for its current-year earnings has moved up 4% over the past 60 days. The company's expected earnings growth rate for the current year is nearly 3%.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.