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Top Wall Street analysts are pounding the table on these 3 dividend stocks
JPMJP MORGAN CHASE(JPM) CNBC·2024-07-14 10:37

Core Insights - Dividend-paying stocks can enhance portfolio returns and provide stability in volatile markets [1] - Wall Street analysts recommend attractive dividend stocks with growth potential to support higher dividends [1] Group 1: Northern Oil and Gas (NOG) - NOG paid a dividend of 40 cents per share for Q1 2024, an 18% year-over-year increase, with a dividend yield of 4.1% [2] - The company announced a 510millionacquisitionofa20510 million acquisition of a 20% stake in Uinta Basin assets from XCL Resources, in partnership with SM Energy [2][3] - RBC Capital analyst Scott Hanold reiterated a buy rating on NOG with a price target of 46, citing potential for further expansion and increased earnings estimates by 11% to 12% for 2025 [3] Group 2: JPMorgan Chase (JPM) - JPM announced a 9% increase in its dividend to 1.25pershareforQ32024,markingthesecondhikethisyear[5]Thebanksboardauthorizeda1.25 per share for Q3 2024, marking the second hike this year [5] - The bank's board authorized a 30 billion share repurchase program to enhance shareholder returns [5] - RBC Capital analyst Gerard Cassidy reaffirmed a buy rating on JPM with a price target of 211,highlightingitsstrongmanagementanddiversifiedbusinessmodel[6][7]Group3:Walmart(WMT)Walmartincreaseditsdividendby9211, highlighting its strong management and diversified business model [6][7] Group 3: Walmart (WMT) - Walmart increased its dividend by 9% to 83 cents per share, marking its 51st consecutive annual hike [8] - In Q1, Walmart returned 2.73 billion to shareholders through dividends and share repurchases, with a payout ratio of 37.5% [8] - Jefferies analyst Corey Tarlowe reiterated a buy rating on WMT with a price target of $77, emphasizing the potential of AI and automation to significantly boost operating income by fiscal year 2029 [9]