The value chain in the auto manufacturing industry is fragmented and involves many players. This fragmentation makes it challenging to select stocks of auto parts manufacturers that are capable of continuing to report growth in their earnings over time. However, there are several excellent companies in this space, which can be useful for investors who want to gain exposure to this growing market area but don’t know where to begin looking. Read on to learn more about four top consumable fuel stocks to buy in October 2022 and why they’re worth considering right now.

Crescent Point Energy (CPG)

Crescent Point Energy (CPG) is one of the top consumable fuel stocks to buy in October 2022. The company is an integrated oil and gas company with operations in North America and Argentina. It’s also one of the largest natural gas producers in the Western Canadian Sedimentary Basin (WCSB) and produces between 70,000 and 75,000 barrels of oil equivalent per day (boe/d). For the next year, analysts expect the company to report earnings of $2.00 per share, representing a modest increase compared to what CPG has delivered in recent years. However, CPG has an excellent track record of growing its earnings and cash flow. Analysts expect its profits to increase by at least 14% per year over the next five years. This is due to the company’s large inventory of developing properties, expected to contribute to production growth. For example, CPG’s large endowment of assets in Canada’s WCSB should allow the company to benefit from the prolific nature of the region’s high-quality natural gas.CPG also has a strong balance sheet, a critical factor for investors to consider. This company has plenty of liquidity and low debt levels, which could help it navigate the current downturn in the industry. It also has the flexibility necessary to make strategic acquisitions, which could help CPG increase its production and earnings over time.

Transportadora de Gas del Sur (TGS)

TGS is one of the top consumable fuel stocks to buy in October 2022. This is a publicly-traded company that is based in Chile and owns a network of natural gas pipelines. It transports natural gas from the Norte del Rio Sur and Austral regions in Chile to various markets, including Argentina, Brazil, and Peru. For the next year, analysts expect TGS to report earnings of $1.78 per share, which is a modest increase compared to what the company has delivered over the past year.TGS is a high-quality stock attractive to investors because it has a strong business model. The company’s core business is its transport of natural gas, which gives it a low-risk business model resilient to the ups and downs in the commodities market. Natural gas is a relatively low-cost fuel source in high demand, especially in the South American region.TGS has a strong balance sheet, a critical factor for investors to consider. This company has a large amount of liquidity and low debt levels, which could help it navigate the current downturn in the industry. It also has the flexibility necessary to make strategic acquisitions that could help TGS increase its market share over time.

Enerplus (ERF)

Enerplus (ERF) is one of the top consumable fuel stocks to buy in October 2022. The company is an integrated oil and gas company with operations in Canada and the United States. It also has a large inventory of undeveloped reserves that could enable the company to grow its production by more than 50% over the next five years. For the next year, analysts expect ERF to report earnings of $1.29 per share, which is a modest increase compared to what the company has delivered in recent years. However, ERF has a strong track record of growing its earnings and cash flow. Analysts expect its profits to increase by at least 15% per year over the next five years. This is due to the company’s large inventory of developing properties, which are expected to contribute to production growth. For example, ERF’s large endowment of assets in Canada’s Alberta oil sands could allow the company to benefit from the prolific nature of the region’s high-quality crude oil.ERF also has a strong balance sheet, a critical factor for investors to consider. This company has plenty of liquidity and low debt levels, which could help it navigate the current downturn in the industry. It also has the flexibility necessary to make strategic acquisitions, which could help ERF increase its production and earnings over time.

ShockWave Medical (SWAV)

ShockWave Medical (SWAV) is one of the top consumable fuel stocks to buy in October 2022. The company designs and manufactures devices for the treatment of chronic pain. Its flagship product is the PainX device, which treats pain at the source using shockwave technology. For the next year, analysts expect SWAV to report earnings of $3.10 per share, representing a modest increase compared to what the company has delivered in recent years.SWAV is a high-quality stock attractive to investors because it has a strong business model. The company’s core business is its design and manufacture of devices for treating chronic pain, which gives it a low-risk business model resilient to the ups and downs in the commodities market. In addition, SWAV has a strong balance sheet, a critical factor for investors to consider. This company has a large amount of liquidity and low debt levels, which could help it navigate the current downturn in the industry. It also has the flexibility necessary to make strategic acquisitions that could help SWAV increase its market share over time.

Conclusion

Investing in stocks is a great way to build wealth over the long term. Stocks are the ownership shares of publicly traded companies, and they provide investors with access to the growing economy. When choosing stocks, selecting companies with strong fundamentals and a competitive edge in their respective industries is important. With the right stocks, investors can build substantial wealth over time and create a source of passive income. Unfortunately, the value chain in the auto manufacturing industry is fragmented and involves many players. This fragmentation makes it challenging to select stocks of auto parts manufacturers that are capable of continuing to report growth in their earnings over time. However, several excellent companies in this space can be useful for investors who want to gain exposure to this growing market area but don’t know where to begin looking.