October 2024 Stock Watch List

As I'm writing this blog post, my parents recently celebrated their 31st wedding anniversary. I'm very blessed to have been raised in a loving home. God willing, I hope to replicate that one day with a family of my own.

On another note, the high temperatures this weekend are expected to reach the low to high 70 degrees Fahrenheit range in Central Wisconsin. Since there are three weeks remaining in the month of September, now would be a good time to look at a few stocks on my watch list for October.

Dividend Stock #1: Amazon (AMZN)

The first stock on my watch list for October is Amazon (AMZN). Interested readers can check out my Seeking Alpha article from July.

AMZN's growth looks to be holding up. The company is broadening its item selection on its e-commerce platform. AMZN is also set to benefit from the vast majority of global IT spending remaining on-premises and gradually transitioning to the cloud. Additionally, the company's free cash flow is immensely improving. Finally, shares could be trading at a substantial discount to fair value from the current $171 share price (as of September 6, 2024).

Dividend Stock #2: Enterprise Products Partners (EPD)

The next stock on my watch list for next month is Enterprise Products Partners (EPD). Curious readers can peruse my July Seeking Alpha article for more info.

EPD's adjusted EBITDA and DCF continues to steadily move higher. The midstream operator is also planning a major growth project, which should sustain this growth. EPD's A-rated balance sheet is the strongest in its industry. The 7%+ distribution yield is well-covered and positioned to keep growing. Sealing the buy case, units of EPD are moderately undervalued from the current $29 unit price (as of September 6, 2024).

Dividend Stock #3: Visa (V)

The third stock on my watch list for October 2024 is Visa (V). Those interested in my in-depth investment thesis can read my co-produced Seeking Alpha article from July.

V has secular trends on its side to keep double-digit annual adjusted diluted EPS growth flowing. The company also enjoys an AA- credit rating from S&P on a stable outlook. Finally, shares could be discounted by a double-digit percentage from the current $279 share price (as of September 6, 2024).

Concluding Thoughts:

Another month. Three more excellent stocks that I plan to own for the long haul. I'm very pleased to deploy capital at an approximately 50/50 split between growth stocks and value stocks.

Discussion:

Are any of AMZN, EPD, and V on your watch list for next month?

If not, what stocks are you watching for October 2024?

Thank you for reading and please feel free to comment below!