Freddie Mac (FREPRT NYSE 45.00 Buy) is involved in mortgage purchasing, credit guarantee, and portfolio investment activities in the United States. It purchases: single family / multi family mortgages, mortgage related securities from lenders, whole loans, non securitized mortgage loans, and issues mortgage related securities in the secondary market. The company guarantees the payment of principal and interest on: mortgage related securities, single / multi class structured securities, mortgage participation certificates issued by the company and securities related to tax exempt family housing revenue bonds. Freddie Mac was founded in 1970 and is based out of Mc Lean, Virginia.

FREPRT has a Moody's rating of Aa3 and a S&P rating of AA-. It pays a dividend of $3.21 or 6.36%.

Bottom Line: With the recent sell off in everything mortgage related; this, is an excellent opportunity to get into FREPRT over the long term. Look for shares to move to the 52 week high of 57.01.

Consolidated Edison (EDPRA NYSE 90.50 Buy) provides electric, gas, and steam utility service to Southern New York (including New York City and Westchester County), Northern New Jersey, and Eastern Pennsylvania. The company also provides energy efficiency services, which include: the design / installation of light retrofits, high efficiency heating, ventilation / air conditioning equipment and other energy savings technologies to governments / commercial customers in the Northeastern United States. The company was founded in 1884 and is headquartered out of New York City.

EDPRA has Moody's rating of A3 and a S&P rating of BBB+. It pays a dividend of $5.00 or 5.52%.

Bottom Line: Look for shares of EDPRA to go to the 52 week high of 94.55 over the long term.

Bank of America (BACPRD NYSE 22.35 Buy) provides banking and non banking financial services in U.S. and overseas. It has three divisions. One, Global Consumer / Small Business Banking, offers: savings accounts, money market accounts, certificates of deposit (CD's), IRA's, regular / interest checking, consumer / business cards, debit cards, merchant services, mortgage products, insurance, and lines of credit. A second division, Global / Corporate Investment Banking, handles: loans, commitment facilities, and real estate lending. The third unit, Global Wealth / Investments, offers wealth management / retail brokerage services such as: asset management, mutual funds, and liquidity strategies. The company was founded in 1874 and is based out of Charlotte, North Carolina.

BACPRD has a Moody's rating of A1 and a S&P rating of A. It pays a dividend of $1.55 or 6.94%.

Bottom Line: With the recent sell off in the credit markets this is an outstanding opportunity to get involved in the preferred stock of a highly rated company. Look for share of BACPRD to go to the 52 week high of 27.11 over the long term. 

All preferred stocks are rated through Moody's as well as Standard and Poor's (S&P)