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With a new trading month already in full swing it is time, once again, to highlight some of my potential stock purchases. The reality of the day is that we’ll continue to see stock prices continue to come down as interest rates rise. No reason to believe interest rates will stop climbing anytime soon (though recent odds are placing rate hikes at a pause). Of course, the silver lining amid any market collapse is that every new dollar put to work today in dividend stocks comes with an automatic higher yield when compared to just a few months ago. With that being said, let’s take a look at my potential stock buys for September 2023.

Like last month, I am considering adding to my small position at UGI Corporation (UGI). With a forward PE of around 7.5 and a yield close to 6%, this stock, might not deliver amazing capital appreciation but can bolster your passive income stream with a relatively high yield. UGI has really crashed in 2023 offering us better buying opportunities and looks quite undervalued at current prices.

Finally, I’m taking a look at Leggett & Platt, Incorporated (LEG). This is another stock that had a rough start to 2023 and is now sporting a yield well north of 6% as a result of a share price decline. With an excessive payout ratio of around 100%, the dividend appears to be on shaky ground going forward and it is very clear that it is not recession and inflation-resistant. Earnings are suffering in 2023 but it may be a good time to nibble on some shares while things look less certain.

What do you think about my stock considerations for September? Clearly, I’m sticking with a lot of similar names for several months in a row now. What are you looking to buy this month? 

More By This Author:

Recent Stock Purchases For August 2023
Dividend Income Update July 2023
Recent Stock Purchases For June/July 2023