These 3 High-Yield Dividend Stocks Just Became More Attractive Buys

Core Viewpoint - Income investors have a significant opportunity to acquire high-yield dividend stocks that are currently undervalued due to recent market fluctuations [1] Group 1: Brookfield Renewable - Brookfield Renewable reported funds from operations (FFO) of $339 million, or $0.51 per unit, reflecting a 6% year-over-year increase, and is on track for at least 10% FFO per unit growth for full-year 2024 [2] - The company owns operational capacity of 32,500 megawatts across various renewable energy sources and has a development pipeline that will increase this capacity nearly sixfold [3] - Brookfield Renewable offers a forward distribution yield of approximately 5.9% and plans to increase its distribution by 5% to 9% annually [4] Group 2: ExxonMobil - ExxonMobil exceeded Wall Street earnings estimates in its Q2 results, but its share price declined slightly due to broader market conditions [5] - The acquisition of Pioneer has significantly impacted ExxonMobil, leading to record production levels from its Permian and Guyana assets, marking the highest quarterly oil production since the merger of Exxon and Mobil in 1999 [6] - The company anticipates structural cost savings of around $5 billion by 2027 and is expanding into low-carbon businesses, including carbon capture and storage [7] - ExxonMobil has a forward dividend yield of nearly 3.3% and has increased its dividend for 41 consecutive years [8] Group 3: Enbridge - Enbridge's Q2 results did not meet consensus earnings estimates, but the company grew its distributable cash flow by 3% year over year to $2.9 billion [9] - The company raised its full-year adjusted EBITDA outlook to between $17.7 billion and $18.3 billion, up from a previous range of $16.6 billion to $17.2 billion, due to acquisitions of three U.S. gas utilities [10] - Enbridge's cash flow is largely stable, with around 98% coming from cost-of-service or contractual agreements, making it resilient to commodity price volatility [11] - The company offers a forward dividend yield exceeding 7% and has increased its dividend for 29 consecutive years [11]