More Dividend Divas: 3 Stocks Delivering Reliable and Growing Payouts

Dividend Stocks Overview - The article emphasizes the importance of selecting dividend stocks with a history of reliable and growing payouts for passive income and long-term capital appreciation [1] Enterprise Products (EPD) - Enterprise Products is a master limited partnership (MLP) specializing in midstream energy infrastructure, focusing on the transportation and storage of oil, refined products, and natural gas liquids [12] - In Q1 2024, EPD reported total revenues of $14.76 billion, an increase of 18.6% year-over-year, driven by a 17% rise in net marine terminal volumes [18] - Net income for EPD rose by 5% year-over-year to $1.5 billion, equating to 66 cents per common unit [18] - EPD shares have appreciated over 7% in 2024 and are trading at a forward P/E of 10.6, with a 12-month price target of $33, indicating a potential upside of more than 16% [13] Crown Castle (CCI) - Crown Castle is a real estate investment trust (REIT) that owns and operates over 40,000 cell towers and 90,000 route miles of fiber, playing a crucial role in wireless connectivity [4] - The company has a high payout ratio of 195%, returning a significant portion of its earnings to shareholders, with a current dividend yield of 6% [5] - In Q1 2024, Crown Castle's adjusted funds from operations (AFFO) declined by 9.5% to $749 million, and AFFO per share dropped 10% to $1.72 due to higher interest expenses [14] - CCI shares have decreased nearly 12% year-to-date, with a price-to-book (P/B) ratio of 7.4x, while analysts have a 12-month median price forecast of $110, suggesting an 8% upside potential [15] Truist Financial (TFC) - Truist Financial reported a total revenue decline of 8.8% to $4.87 billion in the most recent quarter, with adjusted net income falling 13.5% year-over-year to $1.22 billion [7] - Adjusted diluted earnings per share (EPS) decreased by 14.3% to 90 cents [7] - Despite the decline, Truist has a consistent history of dividend growth, currently offering a dividend yield of 5.7% [8] - The stock has seen a marginal decline of about 1% since January, trading at an attractive P/B ratio of 0.94x, with a 12-month price target of $43, indicating around 18% upside [8] - Recently, Truist completed the sale of its remaining stake in Truist Insurance for $15.5 billion, which is expected to strengthen its financial position [16]