Fears about the impact of a government shutdown, a slowing labor market, and elevated stock valuations are weighing on investor sentiment. Given the ongoing uncertainty, investors looking for stable returns can consider adding dividend stocks to their portfolios.
Top Wall Street analysts’ recommendations can help investors pick stocks of dividend-paying companies that have strong fundamentals to support consistent dividend payments.
Here are three dividend-paying stocks, highlighted by Wall Street’s top pros as tracked by TipRanks, a platform that ranks analysts based on their past performance.
First on this week’s dividend list is Brookfield Infrastructure Partners (BIP), a global infrastructure company that owns and operates diversified, long-life assets in the utilities, transport, midstream, and data sectors. BIP paid a dividend of 43 cents per unit on Sept. 29, reflecting a 6% year-over-year increase. At an annualized dividend of $1.72 per unit, BIP stock offers a dividend yield of 5.2%.
Following the recently held Investor Day event, BMO Capital analyst Devin Dodge reiterated a buy rating on Brookfield Infrastructure stock with a price forecast of $42. The 5-star analyst stated that the presentations by management at the event reflected the robust underlying organic growth trends across BIP’s portfolio, which he expects to become more evident in the upcoming quarters.
